REGULATORY, SUPERVISORY AND OVERSIGHT RESPONSIBILITIES

11/11/2019 - 11/15/2019 at Ebene, Mauritius

Financial market infrastructures (FMIs) facilitate the clearing, settlement, and recording of monetary and other financial transactions and are critical for the effective conduct of monetary policy. They enable improved risk management and can strengthen the markets they serve. However, if not properly managed, they can pose significant risks to the financial system and be a potential source of contagion, particularly in periods of market stress. Because of their critical importance for financial stability, risk management standards have been promulgated for the operations of FMIs and oversight responsibilities for regulators, supervisors and overseers of these systems. These are the CPSS-IOSCO Principles for Financial Market Infrastructures (PFMI) published in 2012 by the Committee on Payment and Settlement Systems (CPSS) of the Bank for International Settlements and the Technical Committee for the International Organization of Securities Commissions (IOSCO).