FSA reviews of credit risk management by central counterparties
July 11, 2011
The consultation paper seeks views on the process and scope of review the FSA undertakes when assessing the adequacy of the counterparty credit risk management framework within a central counterparty.
The FSA assesses both applications and existing services against the UK standards for central counterparties in Part 18 of the Financial Services and Markets Act and the Recognition Requirements. The consulatation provides further information as to the way in which the FSA assesses compliance with the Recognition Requirements