Newsflashes
2 Feb. 2010 – IOSCO Review of Standards for Payment, Clearing and Settlement SystemsThe International Organisation of Securities Commissions (IOSCO) has launched a comprehensive review of its standards for financial market infrastructures for payments systems, securities settlement systems and central counterparties. The review will be led by representatives of the central banks and of securities regulators members of IOSCO. The International Monetary Fund and the World Bank also participate. The review is part of the Financial Stability’s Board work to reduce the risks that arise from interconnectedness in the financial system. In parallel, IOSCO is already working on guidance for the application of the 2004 Recommendations for Central Counterparties to over-the-counter derivatives (OTC). It will issue a consultation document in the next few months. For the press release, click here. |