Policy on Payment System Risk — 2014-01-16 [2014-00681]

The Board of Governors of the Federal Reserve System (Board) is proposing to revise part I of its Federal Reserve Policy on Payment System Risk (PSR policy), which sets forth the Board's views, and related principles and minimum standards, regarding the management of risk in payment, clearing, and settlement systems. These revisions are proposed in light of the Principles for Financial Market Infrastructures (PFMI), the international risk-management standards for financial market infrastructures (FMIs) published in 2012.\1\ These revisions are also proposed in light of the enhanced supervisory framework for designated financial market utilities as set forth in Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 ("Dodd-Frank Act" or "Act").