Publication: Republic of Korea Financial Sector Assessment Program : Detailed Assessment of Observance - Assessment of Observance of CPSS-IOSCO Principles for Financial Market Infrastructures--BOK-WIRE+ and KRX CCP
International Monetary Fund
This report contains the assessments of the Bank of Korea (BOK)-wire+ and Korea exchange (KRX) central counterparty (CCP) based on the committee on payment and settlement systems (CPSS) - International Organization of Securities Commissions (IOSCO) principles for financial market infrastructures (PFMI). The assessment was undertaken in the context of the international monetary fund's (IMF's) financial sector assessment program (FSAP) to the Republic of Korea in April and July 2013. The objective of the assessment has been to identify potential risks related to the FMIs that may affect financial stability. The scope of the assessment includes two main FMIs as well as the authorities in Korea responsible for regulation, supervision, and oversight of FMIs. The BOK-wire+ and the KRX CCP are assessed against all relevant principles of the PFMI. The authorities, being the BOK, the financial services committee (FSC), and the financial supervisory service (FSS), are assessed using the responsibilities for authorities of FMIs. This report provides introduction; methodology and information used for the assessment; overview of the payment, clearing, and settlement landscape; and key findings follow up for the BOK-wire+; key findings and follow-up for the KRX-CCP; key findings and follow up for authorities; recommendations for the BOK-wire+; recommendations for the KRX-CCP; and recommendations for authorities.
“International Monetary Fund; World Bank. 2014. Republic of Korea Financial Sector Assessment Program : Detailed Assessment of Observance - Assessment of Observance of CPSS-IOSCO Principles for Financial Market Infrastructures--BOK-WIRE+ and KRX CCP. © World Bank, Washington, DC. http://openknowledge.worldbank.org/handle/10986/20582 License: CC BY 3.0 IGO.”