Central Banking

ESCB, CESR publish settlement safety guidelines

The European System of Central Banks and the Committee of European Securities Regulators on Tuesday published recommendations for securities settlement systems and central counterparties in Europe.

The aim of the guidelines was, the authorities said, to increase the "safeness, soundness and efficiency" of these systems. The proposals are based on various draft regulations published by the Committee on Payment and Settlement Systems and the Technical Committee of the International Organization of

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