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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 March 30, 2011 Federal Reserve seeks comment on proposed rule related to supervision of designated financial market utilities For immediate release Share The Federal Reserve Board on Wednesday requested comment on a proposed rule that implements two provisions of Title VIII of the DoddFrank Wall Street Reform and Consumer Protection Act related to the supervision of financial market utilities (FMUs) designated as systemically important by the Financial Stability Oversight Council. FMUs, such as payment systems, central securities depositories, and central counterparties, provide the essential infrastructure to clear and settle payments and other financial transactions. First, the proposed rule establishes risk-management standards governing the operations related to the payment, clearing, and settlement activities of designated financial market utilities, except those registered as a clearing agency with the Securities and Exchange Commission or as a derivatives clearing organization with the Commodity Futures Trading Commission. The proposed riskmanagement standards are based on the existing international standards that the Board has incorporated previously into its Policy on Payment System Risk. Second, the proposed rule establishes requirements and procedures for advance notice of material changes to the rules, procedures, or operations of a designated financial market utility for which the Board is the primary supervisor under Title VIII of the Dodd-Frank Act. Comments on the proposal must be submitted within 45 days from the date of publication in the Federal Register, which is expected shortly. Federal Register notice: 113 KB PDF | HTML Comments: Submit | View Last Update: March 30, 2011 BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Economic Research Data Consumers & Communities 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