The European Central Bank (ECB) has published its updated version of the Eurosystem oversight policy framework document for financial market infrastructures (FMIs). The document updates and replaces the earlier version of the Eurosystem oversight policy framework of July 2011 in view of significant regulatory and institutional changes and market developments that have affected the oversight function since then.
The revised Eurosystem oversight policy framework continues to follow the structure of the report, Central bank oversight of payment and settlement systems, that the Committee on Payment and Settlement Systems issued in 2005. The document includes amendments to reflect a number of developments that had an impact on the ECB’s oversight function, including the International Organisation of Securities Commissions and the Committee on Payments and Market Infrastructures Principles for FMIs, the Regulation on over-the-counter derivatives, central counterparties and trade repositories, the Regulation of the ECB on oversight requirements for systemically important payment systems and TARGET2-Securities.
View ECB updates Eurosystem oversight policy framework, 15 July 2016