Print       Share

Payment Systems

Compliance with international standards

The Committee of Payment and Settlement Systems (CPSS) developed the Core Principles for Systemically Important Payment Systems and the CPSS and International Organization of Securities Commissions (IOSCO) jointly developed the Recommendations for Securities Settlement Systems, as the internationally recognized risk-management standards for systemically important payment systems and securities settlement systems.

In April 2012, the CPSS and IOSCO issued the Principles for Financial Market Infrastructures to replace the CPSIPS and RSSS. The report harmonizes and, where appropriate, strengthens the existing international standards for systemically important payment systems, central securities depositories, securities settlement systems, and central counterparties. The report also incorporates new standards and additional guidance for trade repositories, which have emerged as an important category of financial market infrastructures. The Financial Sector Assessment Program conducted on RENTAS in 2012 was based on these principles.