Chile Financial Sector Assessment Program : Detailed Assessment Report of DCV, Deposito Central de Valores S.A.
The Central Bank of Chile (Banco Central de Chile, BCCh) and Chile’s Ministry of Finance, requested the World Bank to undertake a stand-alone Review of Standards and Codes (ROSC) module of the Principles for Financial Market Infrastructures (PFMI)...
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| Format: | Report |
| Language: | English en_US |
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World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/329381480930564875/Chile-Financial-sector-assessment-program-assessment-of-observance-of-the-CPSS-IOSCO-principles-for-financial-market-infrastructures http://hdl.handle.net/10986/25719 |
| Summary: | The Central Bank of Chile (Banco Central
de Chile, BCCh) and Chile’s Ministry of Finance, requested
the World Bank to undertake a stand-alone Review of
Standards and Codes (ROSC) module of the Principles for
Financial Market Infrastructures (PFMI) of the Committee on
Payments and Market Infrastructures (CPMI) and the
International Organization of Securities Commission (IOSCO).
A total of five financial market infrastructures (FMIs) were
assessed as part of this ROSC, although one of these
operates both as a central counterparty (CCP) and as a
securities settlement system (SSS) for different segments of
the exchange-traded securities market, and as a result a
total of six FMI assessments were produced by the team. In
addition, the Responsibilities of Authorities for FMIs were
assessed. Other sources of information included the
applicable laws and regulations, as well as each FMI’s main
policies and internal documents (e.g. detailed policies, and
processes and procedures for certain key areas) which were
shared by the FMIs with the assessors, and other information
available at each FMI’s website (e.g. statistics). The World
Bank Group (WBG) and local teams also met with a number of
users of these FMIs, including two large commercial banks
and two brokers-dealers that are not part of local bank-lead
conglomerates. This assessment report covers the
Responsibilities of central banks, market regulators, and
other relevant authorities for the above-mentioned financial
market infrastructures. In addition, it has the detailed
assessment report of Depósito Central de Valores S.A. (DCV). |
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