Current status of Level 1 assessments (as of January 2019)

In July 2018, the CPMI and IOSCO put in place an online tracker that shows self-reported progress on the implementation of the Principles for financial market infrastructures for all financial market infrastructure (FMI) types for the Level 1 assessment programme. The online tracker does not require the publication of Level 1 assessment reports. It lets jurisdictions update their information more quickly (link to evolution of Level 1 assessments ratings).

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 2
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 4/2 2 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 1 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


Implementation of Principles for financial market infrastructures except trade repositories


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 2
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 1 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.