Centrale banken en effectentoezichthouders
Centrale banken en effectentoezichthouders publiceren aanbevelingen voor Centrale Tegenpartijen
Een Centrale tegenpartij plaatst zich tussen de tegenpartijen van een financiële transactie, door als koper op te treden voor de verkopende partij en tevens als verkoper op te treden voor de kopende partij.
Een goed opgezette Centrale tegenpartij met geschikte risicomanagement regels vermindert het risico voor spelers op financiële markten en draagt zo bij aan de financiële stabiliteit, vertrouwen en de goede werking van de financiële markten.
Het persbericht en de aanbevelingen zelf zijn te vinden op de website van IOSCO.
Het originele bericht vindt u hieronder.
Central banks and securities regulators releaserecommendations for central counterparties
The Committee on Payment and Settlement Systems (CPSS) and the Technical Committee of the International Organization of Securities Commissions (IOSCO) today released a report entitled Recommendations for Central Counterparties. The report is available on the BIS website (www.bis.org) and the IOSCO website (www.iosco.org).
The report was prepared by the Task Force on Securities Settlement Systems, which was jointly established by the CPSS and the Technical Committee of IOSCO. It sets out comprehensive standards for risk management of a central counterparty (CCP). A CCP interposes itself between counterparties in financial transactions, becoming the buyer to the seller and the seller to the buyer.
A well designed CCP with appropriate risk management arrangements reduces the risks faced by its participants and contributes to the goal of financial stability. A CCP, however, also concentrates risks and responsibilities for risk management. Therefore, the effectiveness of a CCPs risk control and the adequacy of its financial resources are critical aspects of the infrastructure of the markets it serves. In light of the interest by financial markets in developing CCPs and expanding the scope of their services, the Task Force has developed a set of recommendations for CCPs' risk management.
In March 2004, the CPSS and the Technical Committee of IOSCO released a consultative report for public comment. More than 40 comments were received from central bankers and securities regulators, as well as operators of and participants in CCPs. The Task Force benefited greatly from this input.
This report has 15 headline recommendations and accompanying explanatory text. The recommendations cover the major types of risks CCPs face. The report sets out the intended scope of application of these recommendations and their relationship with the Task Force report Recommendations for Securities Settlement Systems (RSSS). The report also includes a methodology for assessing implementation of the recommendations, which identifies key issues and key questions and provides guidance on assignment of an assessment category.
The CPSS and the Technical Committee of IOSCO encourage CCPs to conduct a self-assessment of their observance of the recommendations and to utilise the answers to the key questions as a basis for their public disclosure. National authorities responsible for the regulation and oversight of the CCPs are also expected to assess whether the CCPs in their jurisdiction have implemented the recommendations and to develop plans for implementation where necessary.