Clearing houses pass PSB agenda
Thin pickings made the media list prepped for Friday's meeting of the Payments System Board.Assessment of LCH.Clearnet Ltd's SwapClear Service was the standout; the RBA making its way through all the clearers under a process of "formal assessments of clearing and settlement facilities licensed to operate in Australia, including overseas facilities."The PSB said "the bank's 2014/15 assessment of the SwapClear service will be published once the bank has fulfilled its obligation to make its findings available to overseas counterparts with a supervisory interest in LCH.Clearnet Ltd, and after the assessment has been provided formally to the Assistant Treasurer and the Australian Securities and Investments Commission."A corresponding assessment is underway by the RBA of itself - no joke."Assessment of the Reserve Bank Information and Transfer System" ( RITS) is nearly done."The board discussed the bank's annual assessment of Australia's real-time gross settlement system against the relevant international standards. The bank aims to publish this assessment in the coming week."