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Securities Settlement Systems in Latin-America World Bank Global Survey 2010 ACSDA 3rd. Leadership Forum Buenos Aires, 9 November 2011 Corina Arteche Serra PSDG - The World Bank
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The World Bank – Global Survey 2010 Answers received from 132 Central Banks, representing 139 countries Topic Covered: i. Legal and Regulatory Framework ii. Large-Value Funds Transfer Systems iii. Retail Payment Systems iv. Foreign Exchange Settlement Systems v. Cross-border Payments and International Remittances vi. Securities Settlement Systems vii. Payment System Oversight and Cooperation viii. Planned and On-going Reforms to the National Payments System New Annex 1 Survey on innovations in retail payments. Annex 1 is divided into 5 key areas i. Type of Products ii. Design Features of the Products iii. Legal and Regulatory Framework iv. Statistics v. Planned Reforms/New Products 2
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Securities Settlement Systems 3
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Securities Settlement Systems: Legal and Regulatory Framework Global Survey 2010 4 Total: 56 LAC: 6
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Securities Settlement Systems: General Features Global Survey 2010 5 Total: 119 LAC: 17
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General features of Securities Clearing and Settlement Systems Global Survey 2010 6 Total: 119 LAC: 17
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Central Securities Depositories 7
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CSD: General features Global Survey 2010 8 Total: 149 LAC: 22
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CSD: Risk Management Features Global Survey 2010 9 Total: 149 LAC: 22
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CSD: Business Continuity Global Survey 2010 10 Total: 149 LAC: 22
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Central Counterparties 11
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CCP: General Features Global Survey 2010 12 Total: 56 LAC: 6
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CCP: Management risk features Global Survey 2010 13 Total: 56 LAC: 6
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CCP: Business Continuity Global Survey 2010 14 Total: 56 LAC: 6
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The Global Survey shows increased compliance with some of the international standards however some improvements are still necessary. Legal and Regulatory Framework: custody arrangements, multilateral netting arrangements and bankruptcy procedures Cooperation arrangements between the Central bank and the Security Regulator SSS and funds transfer (payment) systems are not adequately integrated Risk control mechanisms for CSD and CCP Conclusions 15
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Thank you Corina Arteche carteche@worldbank.org Payment Systems Development Group The World Bank www.worldbank.org/paymentsystems PPP Goals 16
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