FEDERAL RESERVE SYSTEM [Docket No. R-0987] Policy Statement on Privately Operated Multilateral Settlement Systems AGENCY: Board of Governors of the Federal Reserve System. ACTION: Policy statement. SUMMARY: As part of its payment system risk reduction program, the Board of Governors is adopting a policy statement on Privately Operated Multilateral Settlement Systems, which integrates its existing policies on Privately Operated Large-Dollar Multilateral Netting Systems and Private Small-Dollar Clearing and Settlement Systems into one comprehensive policy. EFFECTIVE DATE: January 4, 1999. FOR FURTHER INFORMATION CONTACT: Jeffrey C. Marquardt, Assistant Director (202/452-2360) or Paul Bettge, Assistant Director (202/452-3174); Oliver Ireland, Associate General Counsel (202/452-3625); for the hearing impaired only, Telecommunications Device for the Deaf, Diane Jenkins (202/452-3544).
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Summary and policy statement (54 KB PDF)
1998 Banking and consumer regulatory policy