United States : Publication of Financial Sector Assessment Program Documentation: Detailed Assessment of Observance of the Fed wire Securities Service's Observance of the CPSS-IOSCO Recommendations for Securities Settlement Systems

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United States : Publication of Financial Sector Assessment Program Documentation: Detailed Assessment of Observance of the Fed wire Securities Service's Observance of the CPSS-IOSCO Recommendations for Securities Settlement Systems
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Volume/Issue:
2010/127
Series:
IMF Staff Country Reports
Author(s):
International Monetary Fund
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
May 2010
DOI:
http://dx.doi.org/10.5089/9781455206698.002
ISBN:
9781455206698
ISSN:
1934-7685
Page:
37
This paper discusses key findings of the Detailed Assessment of Observance of the Fedwire Securities Service's (FSS) Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commissions (CPSS-IOSCO) Recommendations for Securities Settlement Systems for the United States. The paper discusses that laws, regulations, rules, procedures, and contractual provisions governing the operations and activities of the FSS are public and readily accessible to system participants. The assessment recommends that securities settlement systems should have a well-founded, clear, and transparent legal basis in the relevant jurisdictions.
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