People's Republic of China Financial Sector Assessment Program : Systemic Oversight of Financial Market Infrastructures
China's landscape for Financial Market Infrastructures (FMIs) is one of the largest and most complex in the world. It consists of a range of payment, clearing and settlement systems, including several interbank payment systems, securities sett...
| Main Authors: | , |
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2018
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/873761529936049065/China-Financial-Sector-Assessment-Program-technical-note-systemic-oversight-of-financial-market-infrastructures http://hdl.handle.net/10986/30062 |
| Summary: | China's landscape for Financial
Market Infrastructures (FMIs) is one of the largest and most
complex in the world. It consists of a range of payment,
clearing and settlement systems, including several interbank
payment systems, securities settlement systems and central
counterparties (CCPs). Many of the systems have high volumes
by international comparison and are systemically important
at a national level. Disruptions, both operational and
financial, in one of these FMIs may significantly impact the
functioning of the Chinese economy. The landscape is subject
to changes, following international developments, such as
the establishment of a cross-border interbank payment system
(CIPS) and a CCP for over-the-counter derivatives. The
development of new, innovative products, for example, in the
area of internet payments, is changing the landscape further. |
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