New Principles for Financial Market Infrastructures - Part 1
Monetary review, 1st Quarter 2013
Danmarks Nationalbank is responsible for overseeing that the Danish payment
and settlement systems are safe and efficient and that they observe
international standards. In April 2012, CPSS-IOSCO published new international
standards in the form of principles for financial market infrastructures, i.e.
payment systems, securities settlement systems, central securities depositories,
central counterparties and trade repositories. The new principles tighten the
requirements regarding inter alia governance, integrated risk management and
stress testing. The article describes the contents of the new principles and the
implementation of them into Danmarks Nationalbank's oversight.