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Article: Revised Payments System Risk policy.(Federal Reserve Board)
- Article from:
- Federal Reserve Bulletin
- Article date:
- January 1, 2005
CopyrightCOPYRIGHT 2005 Board of Governors of the Federal Reserve System. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Federal Reserve Board announced on November 26, 2004, the approval of proposed revisions to its Policy on Payments System Risk (PSR Policy) addressing risk management in payments and securities settlement systems.
The revisions update the policy in light of current industry and supervisory risk-management approaches as well as new international risk-management standards for payments and securities settlement systems. In addition they provide further clarification regarding the policy's objectives, scope, and application.
The key revisions include an expansion of the policy's scope to include those Federal Reserve Bank payments and securities ...