## United States: Publication of Financial Sector Assessment Program Documentation: Reports on Observance and Codes

_IMF Staff Country Reports, July 30, 2010_

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## Bibliographic details
- Published: July 30, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455206773.002

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### Summary of scope and assessments
- The report gives a summary of the detailed assessment report on the implementation of the Basel Core Principles for Effective Banking in the United States and its recommendations.
- Coverage includes:
  - securities and futures market regulatory framework,
  - insurance regulation,
  - Fixed Income Clearing Corporation - Government Securities Division (FICC-GSD) system,
  - Depository Trust Company (DTC) assessed against the Recommendations for Securities Settlement Systems (RSSS),
  - National Securities Clearing Corporation (NSCC) assessed against the Recommendation for Central Counterparties (RCCP),
  - Fedwire Securities Service (FSS) assessed against the Committee on Payment and Settlement Systems - International Organization of Securities Commission (CPSS-IOSCO) RSSSs.
- The U.S. authorities welcomed the Financial Sector Assessment Program (FSAP) and independent reviews, and appreciated significant undertaking associated with reviews in the wake of the crisis.

### Key findings and thematic areas
- Banking:
  - Implementation assessment of the Basel Core Principles for Effective Banking in the United States.
- Market infrastructure and payments:
  - Assessment of FICC-GSD system operations and business continuity arrangements.
  - Assessment of DTC against RSSS.
  - Assessment of NSCC against RCCP, including NSCC business continuity arrangement.
  - Assessment of FSS against CPSS-IOSCO RSSSs; includes FSS participation requirements.
- Insurance:
  - Assessment of insurance regulation and Insurance companies.
- Governance and crisis-related measures:
  - Observations on governance arrangements, default procedure, business continuity arrangement.
- Cross-cutting subjects identified:
  - Banking, Central counterparty clearing house, Financial crises, Financial institutions, Financial markets, Insurance, Insurance companies, Securities.

### Keywords and technical terms preserved
- authority; business continuity arrangement; Central counterparty clearing house; CR; default procedure; FICC-GSD business continuity arrangement; Fixed Income Clearing Corporation-Government Securities Division; FSS participation requirements; fund; Global; governance arrangement; Insurance; Insurance companies; ISCR; NSCC business continuity arrangement; Securities.

### Publication metadata and distribution
- Publication date: July 30, 2010
- Pages: 98
- Volume: 2010
- Issue: 250
- Series: Country Report No. 2010/250
- DOI: https://doi.org/10.5089/9781455206773.002
- Stock No: 1USAEA2010017
- ISBN: 9781455206773
- ISSN: 1934-7685

*International Monetary Fund. "United States: Publication of Financial Sector Assessment Program Documentation: Reports on Observance and Codes", IMF Staff Country Reports 2010, 250 (2010).*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/united-states-publication-of-financial-sector-assessment-program-documentation-reports-on-24108_