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03913nmm a2200745 u 4500 |
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EB002214837 |
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EBX01000000000000001351798 |
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00000000000000.0 |
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240607 ||| eng |
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|a 9798400262586
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| 245 |
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|a Belgium
|b Financial Sector Assessment Program-Detailed Assessment of Observance-Assessment of the CPSS–IOSCO Principles for Financial Market Infrastructures Euroclear Bank
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2023
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| 300 |
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|a 243 pages
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| 651 |
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4 |
|a Belgium
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| 653 |
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|a Banks
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| 653 |
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|a Finance
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| 653 |
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|a Central securities depositories
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| 653 |
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|a Securities
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Mortgages
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| 653 |
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|a Collateral
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| 653 |
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|a International organization
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| 653 |
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|a Financial markets
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| 653 |
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|a International institutions
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| 653 |
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|a Capital and Ownership Structure
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| 653 |
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|a Credit risk
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| 653 |
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|a Financial risk management
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| 653 |
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|a Goodwill
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| 653 |
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|a International Economics
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| 653 |
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|a Financial Risk and Risk Management
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| 653 |
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|a Financing Policy
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| 653 |
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|a International Agreements and Observance
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| 653 |
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|a Depository Institutions
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| 653 |
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|a International Organizations
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| 653 |
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|a Monetary economics
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| 653 |
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|a Financial institutions
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| 653 |
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|a Value of Firms
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| 653 |
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|a General Financial Markets: Government Policy and Regulation
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| 653 |
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|a International agencies
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| 653 |
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|a Micro Finance Institutions
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| 653 |
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|a Financial Institutions and Services: Government Policy and Regulation
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a Loans
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| 653 |
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|a Financial instruments
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| 653 |
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|a Banks and banking; State supervision
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| 653 |
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|a Operational risk
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Investments: General
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| 653 |
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|a Financial regulation and supervision
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| 653 |
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|a Financial services industry
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| 653 |
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|a Monetary policy
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| 653 |
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|a Investment & securities
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Financial services law & regulation
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| 653 |
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|a Finance: General
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| 710 |
2 |
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|a International Monetary Fund
|b Monetary and Capital Markets Department
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| 041 |
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|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Staff Country Reports
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| 028 |
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|a 10.5089/9798400262586.002
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| 856 |
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|u https://elibrary.imf.org/view/journals/002/2023/394/002.2023.issue-394-en.xml?cid=542179-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a This paper on Belgium focuses on detailed assessment of observance of the International Organization of Securities Commissions (CPSS-IOSCO) principles for financial market infrastructures. While improvements have been made since the onboarding of the current Chief Information Security Officer, in particular to Euroclear’s cyber posture, there remain critical deficiencies in the management of key operational risk elements, which will require substantial efforts to address. Beyond relying on direct participant disclosure, Euroclear Bank (EB) should develop capacity for increasing the transparency with respect to the business of its direct participants’ clients. EB should also improve the breadth and rigor of its business continuity and default management testing by conducting simulation exercises based on well-defined scenarios. The report suggests that the National Bank of Belgium (NBB)—as the National Resolution Authority—should ensure that the resolution plan for EB is fully operationalized. Action to seize frozen assets at Euroclear because of international sanctions imposed following the Russian invasion of Ukraine could have unintended consequences for EB and the Euroclear Group more broadly
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