United Kingdom: Financial Sector Assessment Program-Supervision and Systemic Risk Management of Financial Market Infrastructures-Technical Note
IMF Staff Country Reports, June 17, 2016
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- United Kingdom: Financial Sector Assessment Program-Supervision and Systemic Risk Management of Financial Market Infrastructures-Technical Note
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Bibliographic details
- Published: June 17, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484393468.002
Objective
- Main objective: analyze the supervision and systemic risk management of financial market infrastructures (FMIs) in the United Kingdom.
Scope and focus areas
- Supervision of FMIs, including:
- the regulatory framework;
- supervisory practices;
- available resources;
- transparency;
- adoption of international standards;
- coordination and cooperation mechanisms among authorities, both domestically and cross-border.
- Identification and management of interdependencies among FMIs, clearing members, and markets.
- Other mechanisms for monitoring system-wide risks that may exacerbate a crisis and impact financial stability in the United Kingdom and worldwide.
- Recovery and resolution of FMIs as relatively new instruments to sustain critical operations and services.
Key subject areas and keywords
- Subject: Banking; Central counterparty clearing house; Financial markets; Financial regulation and supervision; Payment systems; PFM information systems; Principles for Financial Market Infrastructures; Public financial management (PFM); Real time gross settlement systems.
- Keywords: BoE monitor; BoE work stream; BoE's perspective; Central counterparty clearing house; CR; Europe; Global; ISCR; payment system; Payment systems; PFM information systems; Principles for Financial Market Infrastructures; Real time gross settlement systems; U.K. FMIs.
Summary of analytical emphasis (as presented)
- Assess how supervision and systemic risk management frameworks and practices for FMIs operate in the United Kingdom.
- Evaluate transparency, resources, and adherence to international standards for FMI supervision.
- Examine domestic and cross-border coordination and cooperation among authorities overseeing FMIs.
- Identify interdependencies among FMIs, clearing members, and markets, and assess mechanisms for monitoring system-wide risks.
- Consider the role of recovery and resolution frameworks for FMIs in sustaining critical operations and services.
International Monetary Fund. Monetary and Capital Markets Department "United Kingdom: Financial Sector Assessment Program-Supervision and Systemic Risk Management of Financial Market Infrastructures-Technical Note", IMF Staff Country Reports 2016, 156 (2016).