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The Law and Practice of International Banking, 2nd Edition by Proctor, Charles (1st March 2015)

Part E Guarantees and Security, 35 Financial Collateral Arrangements

From: The Law and Practice of International Banking (2nd Edition)

Charles Proctor

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 15 October 2019

Subject(s):
Regulation of banks — Credit — Security interest — Security issuer

When a charge is taken over cash or securities transferred or held in a recognized clearing and settlement system, the security position of the charge is in some respects reinforced. The European Commission has been concerned with managing systemic risk in such settlement systems. This chapter examines the two key measures to support the stability of such systems: firstly, the Directive on Settlement finality in Payment and Securities Systems; and, secondly, the Directive on financial collateral arrangement.

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