The CFTC, Federal Reserve, and SEC published a final report on principles for payment systems and central counterparties to strengthen risk management protocol. According to the regulators, the principles are designed to fortify the infrastructure supporting global financial markets, reducing the impact of financial shocks.
The report standardizes central securities depositories, securities settlement statements, and trade repositories, the regulators said. William C. Dudley, president of the Federal Reserve Bank of New York, said the standards will make the financial systems “more resilient to financial crises and, in particular, to participant defaults.”
