The Monetary Authority (MA) has released a consultation paper that offers guidance to authorized institutions (AIs) on maintaining access to critical financial market infrastructure (FMI) services during resolution scenarios. The paper highlights the significance of continuity of access (CoA) in executing the preferred resolution strategy and sustaining the essential financial functions of AIs. It outlines the expectations for AIs in identifying providers of critical FMI services, evaluating the necessary requirements and conditions for maintaining CoA, creating measures and contingency plans, establishing governance frameworks, and implementing the MA’s resolution planning approach. It is aligned with the Financial Stability Board’s guidance on CoA to FMIs.
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