Reducing systemic risk in payment and securities settlement systems
Journal of Financial Regulation and Compliance
ISSN: 1358-1988
Article publication date: 1 February 1998
Abstract
The past decade, with its unprecedented surge in financial activity and financial crises, has been one of increased awareness on the part of both regulatory authorities and market participants of the potential of payment systems for propagating and amplifying financial shocks, especially in a cross‐border context. This has led the European Commission to propose, on 30th May 1996, a Directive aimed at reducing systemic risk. (This has been the subject of an earlier contribution by the same author, pub‐lished in Vol 5, No 1 of the Journal.) In the meanwhile, the European Parliament has delivered its opinion and the Council has adopted a common position. This paper examines the contents of this common position.
Citation
Vereecken, M. (1998), "Reducing systemic risk in payment and securities settlement systems", Journal of Financial Regulation and Compliance, Vol. 6 No. 2, pp. 107-134. https://doi.org/10.1108/eb024963
Publisher
:MCB UP Ltd
Copyright © 1998, MCB UP Limited