Tuesday October 1 2013
News Source: Global Exchanges
Focus: General - Global Exchanges
Type: General
Country: European Union
Link: http://www.ecb.europa.eu/press/pr/date/2013/html/pr130927_1.en.html
The European Central Bank (ECB) has published a new “Framework for the assessment of securities settlement systems and links to determine their eligibility for use in Eurosystem credit operations”.
The Eurosystem settles its credit operations based on adequate collateral using securities settlement systems (SSSs) and links between SSSs operated by central securities depositories (CSDs) and international central securities depositories (ICSDs). The new streamlined user assessment framework introduces considerable procedural simplifications, while continuing to ensure a high level of protection for the Eurosystem against losses in the conduct of its credit operations.
The document describing the new approach and the assessment questionnaires replaces the framework that has been in place since 1998.
Click on the above link for more details.