UID:
edoccha_9958123716902883
Format:
1 online resource (39 p.)
ISBN:
1-4983-9740-9
,
1-4983-6094-7
,
1-4983-9170-2
Series Statement:
IMF Staff Country Reports
Content:
This Technical Note on Oversight and Supervision of Financial Market Infrastructures has been prepared in the context of the Financial Sector Assessment Program for the People’s Republic of China–Hong Kong Special Administrative Region (HKSAR). Nine financial market infrastructures (FMIs) operate in HKSAR; the effectiveness of their supervision and oversight is critical in maintaining financial stability. In order to support their objective of consolidating Hong Kong’s position as an international financial center, the Hong Kong authorities have fostered the development of sophisticated and multicurrency FMIs. The risks associated with domestic and overseas linkages appear to be adequately managed. Extensive domestic and overseas system linkages have been implemented making HKSAR a regional settlement hub. The legal framework should be amended to explicitly prohibit a domestic clearing house from operating in HKSAR without being recognized as such. The respective legal framework and policy mandate determines the actions of the Hong Kong Monetary Authority and the Securities and Futures Commission as the two regulatory, oversight and supervision authorities for FMIs in HKSAR.
Note:
Description based upon print version of record.
,
Cover; CONTENTS; GLOSSARY; SUMMARY; TABLES; 1. Main Recommendations and Suggestions on Oversight and Supervision of Financial Market Infrastructures; INTRODUCTION; BOX; 1. Responsibilities of Central Banks, Market Regulators, and Other Relevant Authorities for Financial Market Infrastructures; OVERVIEW OF FINANCIAL MARKET INFRASTRUCTURES; FIGURES; 1. Overview of Current Financial Market Infrastructures; ASSESSMENT OF FINANCIAL MARKET INFRASTRUCTURES OVERSIGHT/SUPERVISION; A. Financial Market Infrastructures Supervision and Oversight Framework
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B. Regulatory, Supervisory, and Oversight Powers and ResourcesC. Disclosure of Policies with Respect to Financial Market Infrastructures; D. Application of the Principles for Financial Market Infrastructures; E. Cooperation with Other Authorities; 2. Overview of Payment Systems; APPENDICES; I. Overview of Financial Market Infrastructures; 3. Overview of Central Securities Depositories, Securities Settlement Systems and Central Counterparties for Financial Instruments,; 4. Comparative Real Time Gross Settlement Turnover Figures
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5. Comparative Securities Settlement System/Central Securities DepositoryII. Comparative Financial Market Infrastructure Turnover Figures; 6. Comparative Central Counterparty Turnover Figures; III. Overview of Financial Market Infrastructure Links; 2. Overview of Main Financial Market Infrastructure Links; IV. Overview of Financial Market Infrastructure Oversight and Supervision
,
English
Additional Edition:
ISBN 1-4983-0031-6
Language:
English
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