2  See Committee of Payment and Settlement Systems, “Principle for Financial Market Infrastructures”, April 2012. http://www.bis.org/publ/cpss101.htm. 3  See Payments Risk Committee, “Recommendations for Supporting Clearing Member Due Diligence of Central Counterparties”, 5 February 2013. BIS central bankers’ speeches  3  financial market infrastructures provides an opportunity to identify possible inconsistencies at a global level4. Conclusion Let me conclude [Slide 8].
The report seems to link these risks mainly to the lack of a strong separation of regular retail banking from such activities as prime broking and custody and collateral management services. It goes as far as stating that “in this respect, the Volcker rule, Vickers and European legislation did not go far enough”.