{
  "title": "Spain: Oversight and Supervision of Financial Market Infrastructures Technical Note",
  "publication": "IMF Staff Country Reports, June 11, 2012",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/spain-oversight-and-supervision-of-financial-market-infrastructures-technical-note-25984",
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  "summary": "This technical note focuses on financial market infrastructures (FMIs) in Spain. The way Spanish authorities supervise and oversee FMIs is an essential issue in promoting and maintaining domestic financial stability.",
  "publishDate": "2012-06-11",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Overview and scope",
      "content": "- Focus: financial market infrastructures (FMIs) in Spain.\n- Central concern: the way Spanish authorities supervise and oversee FMIs as essential to promoting and maintaining domestic financial stability.\n- Note on systemic scope: systemically important payments systems are European or international based, while several domestic FMIs exist."
    },
    {
      "heading": "Key factual findings",
      "content": "- Domestic infrastructures:\n  - Four domestic securities settlement systems.\n  - Three domestic central counterparties.\n- Legal framework:\n  - Authorities’ responsibilities with respect to FMIs are clearly defined in the law.\n- Identified transparency gap:\n  - Further transparency on Banco de España’s (BdE) responsibilities with respect to FMIs other than payments systems is recommended."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subjects: Banking; Central counterparty clearing house; Clearing and settlement systems; Financial institutions; Financial markets; Payment systems; PFM information systems; Public financial management (PFM); Securities.\n- Keywords: Central counterparty clearing house; Clearing and settlement systems; CR; Europe; Global; ISCR; market condition; market liquidity condition; oversight responsibility; oversight team; payment system; Payment systems; PFM information systems; registry system; repo market closing; Securities; settlement system.\n\n---\n\n Content in this bundle\n\n- cr12144\n  - cr12144 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr12144 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/spain-oversight-and-supervision-of-financial-market-infrastructures-technical-note-25984"
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    "Published: June 11, 2012",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475504316.002",
    "Focus: financial market infrastructures (FMIs) in Spain.",
    "Central concern: the way Spanish authorities supervise and oversee FMIs as essential to promoting and maintaining domestic financial stability.",
    "Note on systemic scope: systemically important payments systems are European or international based, while several domestic FMIs exist.",
    "Domestic infrastructures:",
    "Legal framework:",
    "Identified transparency gap:",
    "Subjects: Banking; Central counterparty clearing house; Clearing and settlement systems; Financial institutions; Financial markets; Payment systems; PFM information systems; Public financial management (PFM); Securities.",
    "Keywords: Central counterparty clearing house; Clearing and settlement systems; CR; Europe; Global; ISCR; market condition; market liquidity condition; oversight responsibility; oversight team; payment system; Payment systems; PFM information systems; registry system; repo market closing; Securities; settlement system.",
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