September 24, 2019 / 5:32 AM / 2 months ago

Australia's cbank makes recommendations for ASX's clearing & settlement facilities

SYDNEY, Sept 24 (Reuters) - Australia’s central bank said on Tuesday that ASX’s clearing and settlement (CS) facilities “observed” or “broadly observed” all relevant requirements, though those relating to general business risks were “partly observed”.

The facilities will need to place a high priority on addressing recommendations relating to general business risk, the Reserve Bank of Australia (RBA) said in a statement, following its annual assessment.

It has also made a number of other recommendations for the ASX CS facilities, it added.

The RBA is responsible for the supervision of Australian-licensed clearing and settlement facilities, focusing on reduction of systemic risk. It sets standards that these facilities are required to meet. (Reporting by Swati Pandey; Editing by Richard Borsuk)

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