Central Banking

New rules in pipeline for financial plumbing

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The Committee on Payment and Settlement Systems (CPSS) and the technical committee of the International Organisation of Securities Commissions (IOSCO) on Tuesday launched an examination of its existing standards for payments systems, settlement systems and central counterparties (CCP).

The two groups will work together to update principles that have not been amended since they were first set in the early 2000s.

"Some of the principles are almost ten years old- they were mostly written before 9/1

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