Securities settlement system and Senior: Difference between pages

Revision as of 10:44, 7 January 2018

A claim which enjoys a ranking ahead of others in a liquidation.

Senior claims, therefore, carry a relatively lower degree of credit risk.

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-(SSS).
+A claim which enjoys a ranking ahead of others in a liquidation.
-A system which permits the transfer of securities: either  free of payment, such as  free delivery (for example in the case of pledge), or against payment.
+Senior claims, therefore, carry a relatively lower degree of [[credit risk]].
-Settlement of securities occurs on securities deposit accounts held with a Central Securities Depository (private CSDs or a central bank acting as a CSD) or with a central bank (safe custody operational accounts).
-In the latter case, the central bank acts as the intermediate custodian of the securities.  The final custodian is normally a CSD.
-Settlement of cash occurs in an interbank funds transfer system (IFTS), through a settlement agent.
 == See also ==
-* [[Central securities depository]]
+* [[Junior]]
-* [[Custodian]]
+* [[Senior debt]]
-* [[Interbank Funds Transfer System]]
+* [[Tranche]]
-[[Category:Cash_management]]
+[[Category:Corporate_finance]]
-[[Category:Financial_products_and_markets]]
+[[Category:Long_term_funding]]
-[[Category:Liquidity_management]]
+[[Category:Compliance_and_audit]]
+[[Category:Manage_risks]]
+[[Category:Treasury_operations_infrastructure]]