The Bank of England has published its annual report on the supervision of financial market infrastructures (FMIs).  The report outlines the Bank's role in supervising FMIs, sets out how it has worked to meet its financial stability objective through FMI supervision, and reviews progress against the priorities discussed in the previous annual report. The report also outlines the Bank’s priorities for UK FMIs in 2016. These include: (i) operational and cyber resilience; (ii)  CCP recovery; (iii)  board effectiveness of FMIs; (iv) ring-fencing of UK banking groups; and (v) supervision under CSDR.