Spain: Financial Sector Assessment Program-Technical Note on Regulation, Supervision, Oversight, and Crisis Management of Financial Market Infrastructures

Spain: Financial Sector Assessment Program-Technical Note on Regulation, Supervision, Oversight, and Crisis Management of Financial Market Infrastructures
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Volume/Issue: Volume 2024 Issue 262
Publication date: August 2024
ISBN: 9798400285882
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Investments and Securities-General , Public Finance , commission Delegated Regulation , infrastructure regulation , markets authority , financial instruments regulation , resolution regulation , Central counterparty clearing house , Central securities depositories , Stress testing , PFM information systems , Securities , Europe

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Summary

The FSAP’s focus was on selected topics in relation to the regulation, oversight and supervision of two Financial Market Infrastructures (FMIs) in Spain, Bolsas y Mercados Españoles Clearing (BMEC), a central counterparty (CCP), and Iberclear (IC) a central securities depository (CSD). Within this scope, this technical note focuses on: (i) the responsibilities of the Spanish authorities in the supervision and oversight of BMEC and IC with respect to compliance with the Principles for Financial Market Infrastructures (PFMIs) of the Committee on Payments and Markets Infrastructures and the International Organization of Securities Commissions (CPMI-IOSCO); (ii) the supervision of margining practices of BMEC; and (iii) the supervision of recovery procedures of BMEC and IC.