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Brazil : Financial Sector Assessment Program
Technical Note on Supervision and Oversight of Financial Market Infrastructures

Series:Country Report No. 18/342
ISBN 9781484387535
Code: #1BRAEA2018006

Publication year: 2018

Cdn: $23.50; US: $18.00
Language: English
49 pages
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Brazilian FMIs are among the top twenty worldwide. All together there are sixteen financial market infrastructures (FMIs) operating in the Brazilian payment system (SPB), out of which nine3 are systemically important and four belong to the top twenty FMIs in the world. FMIs play an essential role in the Brazilian financial system and are highly relevant in terms of domestic financial stability. In terms of value of transactions, STR (Reserves Transfer System - Sistema de Transferência de Reservas), the Brazilian Real Time Gross Settlement system (RTGS) is the backbone of the SPB, and belongs to the top ten large value payment systems worldwide. SELIC is among the top ten central securities depository/securities settlement systems (CSD/SSSs), CETIP among the top twenty SSSs, and BM&FBOVESPA Clearinghouse, the largest central counterparty (CCP) in Latin America, belongs to the top ten. These infrastructures facilitate the clearing, settlement, and recording of monetary and other financial transactions, such as payments, securities, and derivatives contracts (including derivatives contracts for commodities). Brazilian post-trading services are integrated. The entities providing securities settlement services also provide other post-trade processing, acting both as a clearing house, and a CSD or as a trade repository (TR).
Brazil : Financial Sector Assessment Program
Cdn: $23.50; US: $18.00
International Monetary Fund (IMF) BookID: 123925 Added: 2018.12.2