An FMI that links to other FMIs identifies, monitors and manages link risks before entering the link and on an ongoing basis, and designs links so each FMI can observe all principles. Links have a sound legal basis in all relevant jurisdictions. Linked depositories manage mutual credit and liquidity risk, fully collateralise credit extensions within limits and prohibit provisional transfers or at least retransfer before finality; an investor depository links only if its participants' rights are well protected and manages added risk from any intermediary; a CCP identifies spill-over from the default of a linked CCP, covers exposures to the other CCP daily without reducing its ability to meet obligations to its own participants; and a trade repository assesses the operational risks of its links.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.