Spain: Financial Sector Assessment Program-Technical Note on Regulation, Supervision, Oversight, and Crisis Management of Financial Market Infrastructures
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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.
Series:
Country Report No. 2024/262
Subject:
Central counterparty clearing house Central securities depositories Financial institutions Financial markets Securities
Frequency:
regular
English
Publication Date:
August 1, 2024
ISBN/ISSN:
9798400285882/1934-7685
Stock No:
1ESPEA2024007
Format:
Paper
Pages:
59
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