12 U.S.C. § 5461: Findings and purposes

The proper functioning of the financial markets is dependent upon safe and efficient arrangements for the clearing and settlement of payment, securities, and other financial transactions. Financial market utilities that conduct or support multilateral payment, clearing, or settlement activities may reduce risks for their participants and the broader financial system, but such utilities may also concentrate and create new risks and thus must be well designed and operated in a safe and sound manner. Payment, clearing, and settlement activities conducted by financial institutions also present important risks to the participating financial institutions and to the financial system. to provide consistency; to promote robust risk management and safety and soundness; to reduce systemic risks; and to support the stability of the broader financial system. management of risks by systemically important financial market utilities; and conduct of systemically important payment, clearing, and settlement activities by financial institutions; providing the Board of Governors an enhanced role in the supervision of risk management standards for systemically important financial market utilities; strengthening the liquidity of systemically important financial market utilities; and providing the Board of Governors an enhanced role in the supervision of risk management standards for systemically important payment, clearing, and settlement activities by financial institutions.