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Fed to beef up standards for systemically important FMUs
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Banking, Financial Stability
Wednesday, January 15, 2014
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The Federal Reserve asked for public feedback on a proposal to revise risk-management standards for systemically important financial market utilities — firms that operate systems to transfer, clear and settle transactions between institutions and entities. The Fed adopted a Dodd-Frank final rule implementing certain risk-management standards for systemically important FMUs in July 2012. As planned, the agency is now seeking to amend its requirements in light of benchmarks established by international standard setters shortly before that rule was finalized. Read on to learn about the Fed’s new proposals.
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