tailieunhanh - Can Africa Claim the 21st Century?
FMIs play a critical role in the financial system and the broader economy. For the purposes of this report, the term FMI refers to systemically important payment systems, CSDs, SSSs, CCPs, and TRs. 2 These infrastructures facilitate the clearing, settlement, and recording of monetary and other financial transactions, such as payments, securities, and derivatives contracts (including derivatives contracts for commodities). While safe and efficient FMIs contribute to maintaining and promoting financial stability and economic growth, FMIs also concentrate risk. If not properly managed, FMIs can be sources of financial shocks, such as liquidity dislocations and credit losses, or a.
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