An FMI manages its liquidity risk from participants, settlement banks, nostro agents, custodians and liquidity providers, and keeps enough liquid resources in every relevant currency to settle same-day and, where appropriate, intraday and multiday obligations with high confidence under stress, including the default of the participant and affiliates generating the largest obligation. A CCP with a more complex risk profile or systemic in several jurisdictions considers resources for two defaults. Qualifying resources are cash, committed lines, swaps and repos and readily convertible collateral; a provider's capacity is checked by due diligence and access procedures are tested; emergency central bank credit is not assumed; resources are sized through stress testing; and rules enable timely settlement after a default.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.