Submissions on Oversight of Overseas Facilities

In its media release of 24 October 2008, the Reserve Bank proposed a modification to the Financial Stability Standard for Central Counterparties to establish a framework for the regulation of overseas central counterparties. In particular, the Reserve Bank proposed to explicitly take into account an overseas facility's compliance with its home regime in assessing whether it was contributing to the overall stability of the Australian financial system. Respondents were asked to consider both the proposed framework and the wording of the variation to the Standard to give effect to the new regime. The following submissions have been received.

Received by 21 November 2008

Received after 21 November 2008

Confidential Submissions

One additional organisation provided a submission, but requested that its views remain confidential. A confidential attachment has also been removed from the submission from Henry Davis York.