Media Release Number 2012-37: At its 16 November meeting, the Payments System Board approved the determination of new Financial Stability Standards (FSSs) for central counterparties and securities settlement facilities. The new FSSs aim to align the Australian regime for regulation of clearing and settlement facilities with new international standards, the Principles for Financial Market Infrastructures (the Principles), which have been developed by the Committee on Payment and Settlement Systems of the Bank for International Settlements and the Technical Committee of the International Organization of Securities Commissions. Both ASIC, through an update to its regulatory guidance, and the Bank propose to implement the Principles within their respective regulatory frameworks to ensure that financial market infrastructure providers operating in Australia conduct their affairs in accordance with international best practice.