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The Regulation of Central Securities Depositories and the Linkages between CSDs and Large-Value Payment Systems

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Author Info
Freedman, C.
Abstract

This paper first describes the Bank of Canada’s approach to the design of large-value clearing and settlement systems. It then examines the way the Bank has operated under the Payment Clearing and Settlement Act, passed by Parliament in July 1996. Through this act, the Bank was assigned responsibility for the regulatory oversight of clearing and settlement systems that have the potential to cause systemic risk. The main section of the paper looks at how considerations of safety and costs have been balanced in the development of the Debt Clearing Services (DCS) of the Canadian Depository for Securities (CDS). The final section explores the various linkages between the DCS and the Large Value Transfer System (LVTS).

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File URL: http://www.bankofcanada.ca/en/res/tr/1999/tr87.pdf
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Publisher Info
Paper provided by Bank of Canada in its series Technical Reports with number 87.

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Length: 27 pages
Date of creation: 1999
Date of revision:
Handle: RePEc:bca:bocatr:87

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Postal: 234 Wellington Street, Ottawa, Ontario, K1A 0G9, Canada
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Web page: http://www.bank-banque-canada.ca/

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Postal: Publications Distribution, Bank of Canada, 234 Wellington Street, Ottawa, Ontario, K1A 0G9, Canada
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Related research
Keywords: Payments; clearing and settlements systems implementation;

Find related papers by JEL classification:
G20 - Financial Economics - - Financial Institutions and Services - - - General

Cited by:
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  1. Kim McPhail, 2003. "Managing Operational Risk in Payment, Clearing, and Settlement Systems," Working Papers 03-2, Bank of Canada. [Downloadable!]
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This page was last updated on 2009-12-2.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.