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Cover IMF Survey
Growth, dollar top Group of Seven agenda
International Monetary Fund. External Relations Dept.

The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen to podcasts given by top IMF economists on important issues in the global economy. www.imf.org/external/pubs/ft/survey/so/home.aspx

Keywords:
SV; IMF Concludes; euro adoption; central bank governor; IMF's Board; market attention; market mechanism; Exchange rates; Debt burden; Collective action clauses; Exchange rate flexibility; Structural policies; Middle East; Global
Cover IMF Staff Country Reports
Jersey: Crown Dependency of the United Kingdom: Assessment of the Supervision and Regulation of the Financial Sector Volume II—Detailed Assessment of Observance of Standards and Cod
International Monetary Fund
This report reviews the assessment of Jersey’s compliance with the Basel core principles for effective banking supervision based on the Core Principles. It provides a detailed assessment of the antimoney laundering and combating the financing of terrorism regime of Jersey and reviews its laws and regulations, supervisory and regulatory systems, Jersey’s compliance with the International Association of Insurance Supervisors (IAIS) insurance core principles, and benchmarks the state of insurance supervision. It also analyzes the objectives and principles of securities regulation and provides a detailed assessment of trust and company service providers in Jersey.
Keywords:
ISCR; CR; insurance supervisor; trust company business; corporate governance; holding company; beneficial owner; business plan; credit risk; risk assessment; senior management; Codes of practice; Insurance; Insurance companies; Anti-money laundering and combating the financing of terrorism (AML/CFT); Legal support in revenue administration; Europe; Global
Cover IMF Staff Country Reports
United Kingdom: Observance by CREST of the CPSS-IOSCO Recommendations for Securities Settlement Systems Detailed Assessment of Observance
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; settlement bank; U.S. dollar; central bank; settlement system; business case; credit risk; Securities; Securities settlement systems; Central securities depositories; Legal support in revenue administration; Payment systems; Global; Europe
Cover IMF Staff Country Reports
Isle of Man: Financial Sector Assessment Program Update: Technical Note: Stress Testing: Banking and Insurance
International Monetary Fund
This technical note presents stress testing of banking and insurance on the Isle of Man (IOM). The stress tests for the IOM Financial Sector Assessment Program Update have been designed to yield as comprehensive and detailed a picture as possible within the constraints of the approach and available data. Stress tests have been performed both by individual institutions based on the parameters and scenarios agreed between the authorities and IMF staff, and, at an aggregate level and in many instances, by the authorities themselves.
Keywords:
ISCR; CR; bank; risk; solvency; asset; banking sector; market risk shock; interest rate risk test; liquidity risk; market-risk shock; risk weight; market risk stress tests; persistency risk; applicable asset risk weight; price Risk; market-risk stress test finding; asset price test; stress test finding; Stress testing; Insurance companies; Market risk; Commercial banks; Europe; Global
Cover IMF Staff Country Reports
Jersey: Financial Sector Assessment Program Update: Detailed Assessment of Observance of AML/CFT
International Monetary Fund
Jersey has put in place a comprehensive and robust Antimoney Laundering/Combating the Financing of Terrorism (AML/CFT) legal framework with a high level of compliance with almost all aspects of the Financial Action Task Force recommendations. The paper discusses a Detailed Assessment of Observance of AML/CFT report on Jersey. Both money laundering and financing of terrorism are criminalized largely in line with the international standard, and Jersey has implemented the provisions effectively.
Keywords:
ISCR; CR; offence; word; one-off transaction; customer due diligence measure; legal adviser; customer's beneficial owners; compliance officer; drug trafficking; Anti-money laundering and combating the financing of terrorism (AML/CFT); Money laundering; Terrorism financing; Legal support in revenue administration; Terrorism; Europe
Cover IMF Staff Country Reports
Jersey: Financial Sector Assessment Program Update: Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision
International Monetary Fund
Jersey’s macroeconomic performance is generally satisfactory. Unemployment is low, and the trend growth rate and inflation have been satisfactorily examined. A Detailed Assessment of the Observance of the Basel Core Principles for Effective Banking Supervision Report on Jersey was also done. The legal system, which is broadly based on common law with French and Norman elements, is highly developed. The authorities have substantially adequate powers to direct, intervene in, and close a troubled financial institution.
Keywords:
ISCR; CR; JFSC staff; risk management; holding company; business model; The JFSC bank; Banking code; Market risk; Internal audit; Credit risk; Financial statements; Middle East; Global
Cover IMF Staff Country Reports
Isle of Man: Financial Sector Assessment Program Update: Financial System Stability Assessment
International Monetary Fund
This paper presents the Financial System Stability Assessment Report on the Isle of Man (IOM). Financial sector regulation and supervision are generally of a high standard, and supervisory efforts are concentrated in those areas most relevant to the activities of financial institutions on the IOM. The Financial Supervision Commission (FSC) faces a conundrum because the major banks are subsidiaries of large international financial groups, to which they provide financing. The FSC is reconsidering to balance prudential requirements for liquidity and exposure to related parties against business needs that entail high exposures to the parent.
Keywords:
ISCR; CR; firm; bank; deposit; market; parent bank; coverage ratio; IOM authority; return on equity; risk shock; Insurance companies; Insurance; Loans; Commercial banks; Global
Cover IMF Staff Country Reports
Isle of Man: Financial Sector Assessment Program Update—Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision
International Monetary Fund
This paper presents a Detailed Assessment of the Isle of Man’s (IOM) Observance of the Basel Core Principles for the Effective Banking Supervision Report. The recent global financial markets turmoil has had a significant impact on the Manx financial system. The IOM has a deposit protection scheme, which has been amended shortly after the time of the assessment. The Financial Supervision Commission has adequate powers to ensure compliance with its regulations and other orders, and it uses these powers when the occasion demands.
Keywords:
ISCR; CR; risk management; parent bank; FSC dispose; guidance note; interest rate; risk profile; credit risk; banking system; bank auditor; FSC supervisor; country risk; Market risk; Legal support in revenue administration; Basel Core Principles; Operational risk; Global
Cover IMF Staff Country Reports
Cayman Islands: Assessment of the Supervision and Regulation of the Financial Sector—Volume II—Detailed Assessment of Observance of Standards and Codes
International Monetary Fund
This paper reviews key findings of the detailed assessment of the Observance of Standards and Codes in the Financial Sector of the Cayman Islands. Banks in the Cayman Islands operate within a well-defined prudential regulatory framework, generally in accordance with Basel standards, that is, largely modeled after the framework currently in use in the United Kingdom. The two-tiered required minimum risk capital standards are significantly above those required by the Basel Capital Accord and are applied in practice based primarily on the perceived differences in risk related to bank ownership.
Keywords:
ISCR; CR; mutual fund; internal audit; senior management; banking sector; board of directors; capital base; managing director; amount of money; country risk; interest rate; due diligence; parent company; Anti-money laundering and combating the financing of terrorism (AML/CFT); Money laundering; Insurance; Mutual funds; Insurance companies; Caribbean
Cover IMF Staff Country Reports
Bermuda: Assessment of the Supervision and Regulation of the Financial Sector—Volume II—Detailed Assessment of Observance of Standards and Codes
International Monetary Fund
This paper presents key findings of the Detailed As