Update to the Level 1 online tracker (information as of January 2020)

The CPMI and IOSCO have put in place, for the Level 1 assessment programme, an online tracker that shows the jurisdictions' self-reported progress on the implementation of the Principles for financial market infrastructures (PFMI) for all financial market infrastructure (FMI) types  (link to evolution of Level 1 assessments ratings). 

This information is complemented through the Level 2 reports, which assess the completeness and consistency of the implementation measures taken by the jurisdictions against the PFMI (link to L2 reports).

Level 1 self-assessments

Jurisdictions are asked to self-assess their progress on adopting the legislation, regulations and policies that would allow them to implement the 24 Principles for FMIs and four of the five Responsibilities for authorities (A, B, C and E) within the regulatory framework that applies to FMIs. They rate their level of implementation using a four-point scale:

1: draft implementation measures are not published
2: draft implementation measures are published
3: final implementation measures are published but are not yet in force
4: final implementation measures are in force
NA: no implementation measures are needed

See Annex A of the Fifth update to Level 1 assessment report for more detailed ratings guidance.

Self-reported responses for the Principles

The table summarises self-reported responses for the Principles. Jurisdictions and ratings in blue have not achieved a rating of 4 (the link for each jurisdiction provides detailed information on the status of implementation and a link to relevant implementation measures).   

Jurisdiction1 Payment systems Central securities depositories & securities settlement systems Central counterparties Trade repositories
Argentina 4 3/4 3 4
Australia 4 4 4 4
Belgium EUR2 EU3 EU EU
Brazil 4 4 4 4
Canada 4 4 4 4
Chile 4 4 4 3
China 4 4 4 4
European Union (EU) /
Eurosystem (EUR)
4
4 4 4 4
France EUR EU EU EU
Germany EUR EU EU EU
Hong Kong SAR 4 4 4 4
India 4 4 4 4
Indonesia 4 4/4 4 NA
Italy EUR EU EU EU
Japan 4 4 4 4
Korea 4 4 4 4
Mexico 4 4 4 4
Netherlands EUR EU EU EU
Russia 4 4 4 4
Saudi Arabia 4 4 4 4
Singapore 4 4 4 4
South Africa 4 4 4 4
Spain EUR EU EU EU
Sweden 4 EU EU EU
Switzerland 4 4 4 4
Turkey 4 4 4 4
United Kingdom 4 EU EU EU
United States 4 4 4 1/4

1 FMIs within an FMI type which are under different authorities' jurisdictions and whose implementation status varies depending on the jurisdiction receive a split rating.   2 Rating is the same as for the Eurosystem.   Rating is the same as for the EU.   4 Member states of the European Union whose currency is the euro. EU rating is given to central counterparties and trade repositories, and EUR to payment systems and central securities depositories/securities settlement systems.


Implementation of Principles for financial market infrastructures

* The black circles represent Hong Kong SAR and Singapore.
The boundaries and names shown and the designations used in this map do not imply endorsement or acceptance by the BIS.


Implementation of Principles for financial market infrastructures except trade repositories

The black circles represent Hong Kong SAR and Singapore.
The boundaries and names shown and the designations used in this map do not imply endorsement or acceptance by the BIS.

Self-reported responses for the Responsibilities

The table summarises self-reported responses for four Responsibilities. Jurisdictions and ratings in blue have not achieved a rating of 4 (the link for each jurisdiction provides detailed information on the status of implementation and a link to relevant implementation measures).

Jurisdiction Payment systems Central securities depositories & securities settlement systems Central counterparties Trade repositories
Argentina 4 4 4 4
Australia 4 4 4 4
Belgium EUR1 4 NA EU2
Brazil 4 4 4 4
Canada 4 4 4 4
Chile 4 4 4 3
China 4 4 4 4
European Union (EU) /
Eurosystem (EUR)
3
4 NA NA 4
France EUR 4 4 EU
Germany EUR 4 4 EU
Hong Kong SAR 4 4 4 4
India 4 4 4 4
Indonesia 4 4 4 NA
Italy EUR 4 4 EU
Japan 4 4 4 4
Korea 4 4 4 4
Mexico 4 4 4 4
Netherlands EUR 4 4 EU
Russia 4 4 4 4
Saudi Arabia 4 4 4 4
Singapore 4 4 4 4
South Africa 4 4 4 4
Spain EUR 4 4 EU
Sweden 4 4 4 EU
Switzerland 4 4 4 4
Turkey 4 4 4 4
United Kingdom 4 4 4 EU
United States 4 4 4 4

1 Rating is the same as for the Eurosystem.    2 Rating is the same as for the EU.     3 Member states of the European Union whose currency is the euro. EU rating is given to central counterparties and trade repositories, and EUR to payment systems and central securities depositories/securities settlement systems.