The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Advanced Search About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Economic Research Data Consumers & Communities Board of Governors of the Federal Reserve System The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. Home > News & Events > Press Releases Press Release January 10, 2014 Federal Reserve Board requests comment on proposed revisions to Regulation HH and Payment System Risk policy For immediate release Share The Federal Reserve Board on Friday requested comment on proposed revisions to the Regulation HH risk-management standards for certain financial market utilities that have been designated as systemically important by the Financial Stability Oversight Council, including those for which the Board is the Supervisory Agency pursuant to Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Board also requested comment on related revisions to part I of the Federal Reserve Policy on Payment System Risk (PSR policy), which is applicable to financial market infrastructures (FMIs) more generally, including those operated by the Federal Reserve Banks. Both sets of revisions are based on and generally consistent with the April 2012 Principles for Financial Market Infrastructures (PFMI) developed jointly by the international standard-setting bodies, the Committee on Payment and Settlement Systems and the Technical Committee of the International Organization of Securities Commissions. Revisions include establishing separate standards to address credit risk and liquidity risk, a new standard on general business risk, and heightened requirements on transparency and disclosure. The Board believes that the implementation of risk-management standards based on the PFMI can help promote the safety and efficiency of FMIs and U.S. financial institutions that use FMIs, as well as foster greater financial stability during times of stress. Comments on both proposals must be submitted by March 31, 2014. Federal Register notice for Regulation HH: HTML | PDF Federal Register notice for part I of the Policy on Payment System Risk: HTML | PDF Board Votes Regulation HH risk-management standards Federal Reserve Policy on Payment System Risk (PSR policy) Comments: Submit | View Last Update: January 10, 2014 BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Economic Research Data Consumers & Communities Financial Stability TOOLS AND INFORMATION STAY CONNECTED Contact Publications Freedom of Information (FOIA) Office of Inspector General Budget & Performance | Audit No FEAR Act Español Website Policies | Privacy Program Accessibility BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM 20th Street and Constitution Avenue N.W., Washington, DC 20551