United States: Publication of Financial Sector Assessment Program Documentation: Technical Note on Selected Issues on Oversight of Payment
IMF Staff Country Reports, May 14, 2010
Source details
- Canonical URL
- United States: Publication of Financial Sector Assessment Program Documentation: Technical Note on Selected Issues on Oversight of Payment
Other formats
Bibliographic details
- Published: May 14, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455206636.002
Overview
- This technical note reviews the United States Federal Reserve’s oversight of payment, clearing, and settlement systems.
- As is typical for central banks, the Federal Reserve plays multiple and important roles in payment and settlement systems.
- The Federal Reserve also exercises supervisory and regulatory responsibility over certain private-sector payment and settlement systems that have bank charters subject to Federal Reserve supervision or that fall under relevant supervisory provisions for bank service companies.
- Subject areas: Banking; Clearing and settlement systems; Financial markets; Financial sector policy and analysis; Payment systems; Securities settlement systems; Systemic risk.
Key findings and emphases
- Review focus: oversight of payment, clearing, and settlement systems by the Federal Reserve.
- Emphasis on the multiplicity of roles played by the Federal Reserve in payment and settlement systems.
- Emphasis on the Federal Reserve’s supervisory and regulatory responsibilities for private-sector payment and settlement systems when those systems have bank charters subject to Federal Reserve supervision or fall under supervisory provisions for bank service companies.
Scope and topical coverage
- Topics and keywords included: Clearing and settlement systems; CR; financial market utility; ISCR; Payment and; payment system expert; Payment systems; payments oversight function; payments role; policy function; RTGS payment system; securities settlement risk; Securities settlement systems; settlement; settlement activity; settlement infrastructure; settlement service; settlement system; Systemic risk.