United States: Publication of Financial Sector Assessment Program Documentation: Detailed Assessment of Observance of the National Securities Clearing Corporation’s Observance of the CPSS-IOSCO Recommendations for Central Counterparties
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Summary:
This paper discusses key findings of the Detailed Assessment of Observance of the National Securities Clearing Corporation’s (NSCC) Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commissions (CPSS–IOSCO) Recommendations for Central Counterparties (CCP) for the United States. The assessment recommends that a CCP should have a well-founded, clear, and transparent legal basis in the relevant jurisdictions. A CCP should require participants to have sufficient financial resources and robust operational capacity to meet obligations arising from participation in the CCP.
Series:
Country Report No. 2010/129
Subject:
Banking Central counterparty clearing house Credit default swap Financial institutions Financial markets Financial regulation and supervision Legal support in revenue administration Money Operational risk Revenue administration Securities
English
Publication Date:
May 15, 2010
ISBN/ISSN:
9781455206711/1934-7685
Stock No:
1USAEA2010011
Pages:
31
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