## Spain: Oversight and Supervision of Financial Market Infrastructures Technical Note

_IMF Staff Country Reports, June 11, 2012_

## Source details

**Canonical URL:** [Spain: Oversight and Supervision of Financial Market Infrastructures Technical Note](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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## Bibliographic details
- Published: June 11, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475504316.002

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### Overview and scope
- 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.

### Key factual findings
- Domestic infrastructures:
  - Four domestic securities settlement systems.
  - Three domestic central counterparties.
- Legal framework:
  - Authorities’ responsibilities with respect to FMIs are clearly defined in the law.
- Identified transparency gap:
  - Further transparency on Banco de España’s (BdE) responsibilities with respect to FMIs other than payments systems is recommended.

### Subject areas and keywords
- 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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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/spain-oversight-and-supervision-of-financial-market-infrastructures-technical-note-25984_