IMF Staff Country Reports

France: Financial Sector Assessment Program—Detailed Assessment of Observance of CPSS/IOSCO Recommendations for Securities Settlement Systems and for Central Counterparties

July 1, 2013

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France: Financial Sector Assessment Program—Detailed Assessment of Observance of CPSS/IOSCO Recommendations for Securities Settlement Systems and for Central Counterparties, (USA: International Monetary Fund, 2013) accessed September 27, 2024

Summary

This paper discusses key findings of the Detailed Assessment of LCH.Clearnet SA Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commission (CPSS–IOSCO) Recommendations for Central Counterparties. The findings reveal that LCH.Clearnet SA displays a high level of observance of the CPSS/IOSCO recommendations. It has a sound, coherent, and transparent legal basis. It has developed an adequate risk-management framework to address financial and operational risks. LCH.Clearnet SA governance arrangements and composition of Boards and management are well defined and adequately staffed.

Subject: Banking, Central counterparty clearing house, Credit default swap, Currencies, Financial markets, Financial regulation and supervision, Legal support in revenue administration, Money, Operational risk, Revenue administration

Keywords: Banque Centrale de Compensation, British pound, Central bank, Central counterparty clearing house, Commercial bank, CR, Credit default swap, Currencies, Event of default, Global, Holding company, Initial margin, ISCR, Legal support in revenue administration, Margin call, Operational risk, Participation requirement, Risk management, U.S. dollar

Publication Details

  • Pages:

    60

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2013/183

  • Stock No:

    1FRAEA2013005

  • ISBN:

    9781484339701

  • ISSN:

    1934-7685