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Payments Wholesale banking Regulation & Compliance Sibos
Giovannini clearing and settlement report

Giovannini clearing and settlement report

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This report by the Giovannini Group of financial experts outlines a three-year plan for the removal of barriers to an integrated European system for cross-border clearing and settlement.

Building on its first report in 2001, the Giovannini Group returns to the 15 barriers it identified at the time as hindering the creation of an EU-wide settlement regimen. The Group suggests a sequence of actions and timeframes to remove the barriers, allocating responsibility for each action between the private sector and national governments.
The second part of the report deals with public policy considerations in the integration/consolidation of clearing and settlement providers in the EU and examines several models of integration in this context, with an emphasis on cost effectiveness, fair competition and systemic risk.

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