BoE releases annual report on supervision of FMIs

The BoE has published its 2022 annual report on its supervision of financial market infrastructure firms (FMIs). FMIs provide services, such as payments, and networks that facilitate financial transactions. The BoE’s supervision of FMIs is vital to its objective to protect and enhance financial stability in the United Kingdom. The annual report sets out how the BoE has continued to supervise UK FMIs effectively and outlines its key future deliverables in four key areas:

1. delivering robust supervision in challenging times;
2. developing and implementing a clear forward agenda on central counterparty (CCP) resilience and recovery;
3. shaping the UK’s response to innovation in payments; and
4. setting the BoE’s policy on the recognition and supervision of overseas CCPs and central securities depositories wanting to provide services to the UK.