United States: Publication of Financial Sector Assessment Program Documentation: Detailed Assessment of Observance of the Fed wire Securities Service’s Observance of the CPSS-IOSCO Recommendations for Securities Settlement Systems
May 14, 2010
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This paper discusses key findings of the Detailed Assessment of Observance of the Fedwire Securities Service’s (FSS) Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commissions (CPSS–IOSCO) Recommendations for Securities Settlement Systems for the United States. The paper discusses that laws, regulations, rules, procedures, and contractual provisions governing the operations and activities of the FSS are public and readily accessible to system participants. The assessment recommends that securities settlement systems should have a well-founded, clear, and transparent legal basis in the relevant jurisdictions.
Subject: Banking, Collateral, Credit, Financial institutions, Financial markets, Legal support in revenue administration, Money, Revenue administration, Securities, Securities settlement systems
Keywords: Collateral, CR, Credit, daylight overdraft, discount window, Fedwire securities application, FRB staff, Global, intraday credit, ISCR, Legal support in revenue administration, net debit cap, PSR policy, Securities, securities account, securities intermediary, securities lending, Securities settlement systems, securities transfer, security interest
Pages:
37
Volume:
2010
DOI:
Issue:
127
Series:
Country Report No. 2010/127
Stock No:
1USAEA2010009
ISBN:
9781455206698
ISSN:
1934-7685
