UK:
Bank Of England Publishes Annual Report On Supervision Of Financial Market Infrastructures
30 March 2015
Shearman & Sterling LLP
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On March 11, 2015, the Bank of England published its annual
report on the supervision of Financial Market Infrastructures which
sets out the way in which the BoE has exercised its
responsibilities in relation to recognized payment systems, CCPs
and securities settlement systems over the past year. The report
discusses the progress that has been achieved on issues including:
(i) credit and liquidity risk; (ii) recovery and resolution; (iii)
operational risk management; (iv) governance; and (v) disclosure.
The report lists the forward-looking priorities that the bank
intends to focus on in the next year, such as: (i) assessing the UK
CCPs' stress-testing practices; (ii) evaluating proposals on
CCP recovery and resolution that may extend to other types of FMI;
(iii) addressing the root causes of excess operational risk; and
(iv) improving resilience against cyber-attacks.
The report is available at: http://www.bankofengland.co.uk/publications/Documents/fmi/annualreport2015.pdf.
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