Submissions on New Financial Stability Standards

In August 2012 the Reserve Bank of Australia initiated a public consultation on a proposal to revoke the existing Financial Stability Standards (FSSs) and determine new FSSs for both central counterparties and securities settlement facilities. The proposed FSSs aim to align the Australian regime for regulation of licensed clearing and settlement (CS) facilities with new international standards, while upholding the standards to which licensed CS facilities are held under the current FSSs. The proposed FSSs also implement key elements of the Council of Financial Regulators' framework for ensuring that Australian regulators have appropriate influence over cross-border CS facilities. Views on the proposed FSSs were sought from interested parties by 19 October 2012.

Received by 19 October 2012

Received after 19 October 2012