CPSS, IOSCO seek comments on disclosure standards


The Committee on Payment and Settlement Systems and the International Organisation of Securities Commissions have published, for public comment, a consultative document on the public quantitative disclosure standards for central counterparties.
They explained in a statement posted on the IOSCO website that to ensure that the risks related to the use of central counterparties could be properly understood, “CCPs need to make relevant information publicly available, as stated in the CPSS-IOSCO Principles for financial market infrastructures, published in April 2012.”
The CPSS and IOSCO had published a disclosure framework in December 2012, primarily covering qualitative data that needed relatively infrequent updating, to provide guidance on what should be disclosed by a CCP and other financial market infrastructures.
The statement explained that to complement the disclosure framework, the consultative document sets out guidance on the quantitative data that a CCP should disclose more frequently.
It read in part, “Taken together with the disclosure framework, the proposed disclosures in this consultative document are intended to support the objectives of enabling stakeholders, including authorities, participants (direct, indirect and prospective) and the public, to:
“Compare CCP risk controls, including financial condition and financial resources to withstand potential losses; have a clear, accurate and full understanding of …

Source: The Punch – Nigeria’s Most Widely Read Newspaper


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