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Settlement Finality in the European Union by M. Vereecken & A. Nijenhuis
The EU Directive and Its Implementation in Selected Jurisdictions
Since the 1990, Lamfalussy Report, which highlighted the risk involved in payment and securities settlement systems, a much clearer understanding of the relevant risks has developed among the international banking community resulting, inter alia, in the recognition of the need for a cross-border legal framework, which ensures the finality of the settlement and reinforces the netting and collateral arrangements, which are implemented by most (cross-border) payment and securities settlement systems. This recognition has led to the adoption of the Settlement Finality Directive (the Directive), whose objective is to reduce systemic risk inherent in payment and securities settlement systems. As recital 9 of the Directive states, the reduction of systemic risk requires, in particular, the finality of settlement and the enforceability of collateral security. |
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| Author(s) : | Format : Paperback Book |
| ISBN-10 : 9041124012 | ISBN-13 : 9789041124012 |
| RRP : £70.00 | Best available price : £ / $ |
| Prices as of : BST check live prices | |
Product Details:
Series Title : Law of Business & Finance S.
Country Publication : Netherlands
Publication Date : 01/12/2003
Publisher : Aspen Publishers Inc.,U.S.
Page Length : 384mm
Page Size : 250mm