Managing Risk Overview

Policies and Procedures

In support of the overarching documents discussed within the Risk Management Framework tab above are various underlying policies and procedures. These supporting policies and procedures identify and describe the specific metrics, triggering thresholds, mitigation processes, and escalation requirements particular to the applicable risk management topic they cover.

• Filed Policy Documents - The Clearing Agencies

  The Clearing Agency Risk Management Framework compliments the DTCC Corporate Risk Management Policy and Risk Tolerance Statements. This overarching document applies exclusively to NSCC, FICC and DTC, and has been filed with and approved by the SEC. Other policy documents exclusive to NSCC, FICC and DTC have also been filed with and approved by the SEC:

  • Clearing Agency Liquidity Risk Management Framework
  • Clearing Agency Operational Risk Management Framework
  • Clearing Agency Model Risk Management Framework
  • Clearing Agency Securities Valuation Framework
  • Clearing Agency Stress Testing Framework
  • Clearing Agency Investment Policy
  • Clearing Agency Policy on Capital Requirements
  • Clearing Agency Capital Replenishment Plan

  The Clearing Agency Risk Management Framework and the other filed policy documents are collectively referred to as “the Clearing Agency Risk Frameworks”.

• Policy Review and Approval

  The DTCC Corporate Risk Management Policy, Risk Tolerance Statements and the several Clearing Agency Risk Frameworks identified above are reviewed and approved by the Board and/or Board Risk Committee, annually.

  Underlying policies and procedures identified by management as necessary to support compliance with the annual approval requirements of the Covered Clearing Agency Standards are also reviewed and approved by the Board and/or Board Risk Committee, annually.