Regulatory Alerts2014-07-31
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Reserve Bank of Australia and Reserve Bank of New Zealand Memorandum of Understanding on Cross-Border Clearing Organisations
The Reserve Bank of Australia and the Reserve Bank of New Zealand established a Memorandum of Understanding to facilitate cooperation and information exchange regarding the supervision of cross-border clearing organisations. The framework mandates regular consultations, event-triggered notifications for material risks, and formal information sharing requests to ensure regulatory compliance and financial stability. It further defines strict confidentiality protocols, permissible uses of shared non-public information, and procedures for handling emergency situations and termination of the agreement.
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