Sweden: Financial Sector Assessment Program Update: Detailed Assessment of Observance on CPPS Core Principles for Systemically Important Payment (RIX)
IMF Staff Country Reports, September 16, 2011
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- Sweden: Financial Sector Assessment Program Update: Detailed Assessment of Observance on CPPS Core Principles for Systemically Important Payment (RIX)
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Bibliographic details
- Published: September 16, 2011
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781463903565.002
Overview
- The Riksbank (RB) conducted a formal self-assessment of the RIX system's observance of the Core Principles in the context of the IMF Financial Sector Assessment Program (FSAP).
- The assessment describes the role of Riksbank-Funds Transfer System (RIX) in maintaining the stability of the Swedish financial system.
System description
- Riksbank’s Funds Transfer System (RIX) provides facilities for real-time gross settlement (RTGS) in central bank money of Swedish kronor (SEK) payment transactions.
Key findings
- The assessment identifies opportunities for further improvements in the legal basis.
- The assessment identifies opportunities for more clearly defining and publicly disclosing RIX's major policies.
Policy recommendations (as implied by assessment findings)
- Strengthen the legal basis underpinning RIX to enhance clarity and robustness.
- Clearly define major RIX policies and ensure they are publicly disclosed to enhance transparency and promote stability.