JoPACC's Commitment

Through its Risk Management Framework, JoPACC is committed to leverage the PFMIs to minimize the risks arising across its financial market infrastructures, all while increasing safety and efficiency. More specifically, JoPACC is devoted to the following:
 

• Utilize the PFMIs as a guiding framework on the safe and efficient operation and management of payment systems
• Conduct annual self-assessments against the PFMIs, to document JoPACC’s adherence to the relevant principles and the progress it makes over the years
• Identify gaps between JoPACC’s current practices and those stipulated in the PFMIs and assess said gaps to formulate action plans based on criticality and priority
• Abide by the “Disclosure Principle” by publishing summary reports of its assessments against the PFMIs, its access criteria, governance arrangements, and operating rules to increase transparency and enable participants to better quantify their risks
• Maintain a viable recovery or orderly wind-down plan to reduce the disruption caused by shocks or times of market stress