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of <h1>Custodian must meet board-mandated governance, risk, technical capacity and wind-down requirements to protect stakeholders and system stability</h1> A custodian must fulfill obligations and discharge responsibilities as specified by the regulatory board to ensure an appropriate governance structure and processes, robust risk management policies and procedures, scalable infrastructure with adequate technical capacity, and a framework for orderly winding down, together with any additional measures the board may mandate. These requirements are ongoing and subject to the board's specifications from time to time, imposing proactive operational, risk and contingency standards on custodial entities to protect stakeholders and maintain systemic stability.
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