Federal Reserve Board seeks comments on proposed revisions to Payments System Risk policy

The Federal Reserve Board is requesting comments on proposed revisions to Part II of its Policy Statement on Payments System Risk (PSR Policy), which addresses risk management in payments and securities settlement systems.

The proposed revisions update the policy in light of current industry and supervisory risk management approaches and new international risk management standards for payments and securities settlement systems. In addition, they provide further clarification regarding the policy's objectives, scope, and application.

The key revisions include an expansion of the policy's scope to include those Federal Reserve Bank payments and securities settlement systems that meet the policy's application criteria, revised general risk management expectations for systems subject to the policy, and the incorporation of both the Core Principles for Systemically Important Payment Systems and the Recommendations for Securities Settlement Systems.

Read the Federal Reserve Board notice (PDF)

Source: Zeichner Risk Assessment Newsletter. To subscribe to this weekly newsletter, click here.

•Date: 27th April 2004 •Region: N.America•Type: Article •Topic: Financial sector
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