New Chart Details Regulatory Authority Relationships
CHICAGO - The Federal Reserve Bank of Chicago has created a detailed information graphic outlining the relationship of U.S. regulatory authorities to the wide network of payment, clearing and settlement systems.
The graphic was developed to help explain the complex relationship among U.S. regulators and the systems that provide payment, clearing and settlement services, explained Rajeev Ranjan, a policy specialist in the Bank’s Financial Markets Group who created the graphic.
“By doing this we hope to help people understand the interconnectedness of the regulators with the financial markets infrastructure (FMI),” said Ranjan.
The diagram also provides information regarding selected products traded on the exchanges and trading venues depicted. In addition, it features some information-sharing and cross-margining arrangements among the FMI. The diagram also shows the key payment systems in the U.S. (Fedwire and CHIPS) and the trade repository for credit default swaps. The graphic will be updated to reflect current relationships.
The chart can be viewed at http://chicagofed.org/digital_assets/others/markets/FMI_Graphic.pdf