(4)In April 2012, the Core Principles for Systemically Important Payment Systems were replaced by the CPSS and the Technical Committee of the International Organization of Securities Commission's (IOSCO) principles for financial market infrastructures (hereinafter the ‘CPSS-IOSCO principles’) 2 , which harmonise and strengthen existing international oversight standards for, inter alia, SIPS.
Recital 4
- 2 Available on the BIS's website at www.bis.org/publ/cpss101a.pdf ↩