Fed Publishes FMU Risk Management Rules
The Federal Reserve Board has published its final rules on risk management for clearing houses and payment systems in the US financial system.
Designated as Financial Market Utilities (FMUs), the organizations will be subject to risk management requirements that closely resemble those originally proposed by the International Organization of Securities Commissions (IOSCO) and the Committee on Payment and Settlement Systems (CPSS). The final rule is designated as Regulation HH.
The new standards
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