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You are looking at 1 - 7 of 7 items for :

  • Financial services industry; Law and legislation x
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Cover IMF Staff Country Reports
IMF Executive Board Approves US$ 151.03 Million under the ECF Arrangement for Benin
International Monetary Fund. African Dept.

Significant fiscal slippages in late 2015 and early 2016, compounded by negative spillovers from Nigeria, led to a deterioration of the macroeconomic situation. The election in March 2016 of a new president who campaigned for a clear break with past policies offers an opportunity to implement sensible policies to promote inclusive and sustainable growth and reduce poverty. The authorities have launched an ambitious reform agenda and reaffirmed their commitment to preserving macroeconomic stability and medium-term debt sustainability.

Keywords:
ISCR; CR; authority; financing; authorities' intention; Benin's economy; debt; Fiscal space; Infrastructure; Poverty reduction; Private investment; West Africa
Cover IMF Staff Country Reports
IMF Executive Board Concludes 2018 Article IV Consultation with Iceland
International Monetary Fund. European Dept.

2018 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Iceland

Keywords:
ISCR; CR; competition authority; staff appraisal; baseline rojections; increase government investment; IMF staff projection; executive board assessment; households' spending pattern; Consumer price indexes; Gross fixed investment; Current account surpluses
Cover IMF Staff Country Reports
Spain: Financial Sector Assessment Program: Technical Note: Supervision of Insurance: Alternative Models for an Independent Agency
International Monetary Fund
This report is the summary of a technical note on Supervision of Insurance of Spain and Alternative Models for an Independent Agency. It reviews the organizational alternatives for insurance supervision and discusses the advantages and disadvantages of alternative institutional arrangements. It presents various alternatives for an independent insurance supervisory agency for Spain.
Keywords:
ISCR; CR; agency; securities; securities supervision; financial markets authority; central bank; insurance supervision; prudential supervision; supervision of insurance; supervisory agency; Insurance supervision; Insurance; Western Europe
Cover IMF Staff Country Reports
Panama: Assessment of Financial Sector Supervision and Regulation, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Supervision, and Securities Regulation
International Monetary Fund
This paper discusses key findings of the Assessment of Financial Sector Supervision and Regulation for Panama. The assessment of bank supervision showed a high degree of compliance with the Basel Core Principles (BCP) reflecting generally satisfactory implementation combined with an adequate legal and regulatory foundation. The supervisory and regulatory frameworks for capital markets and insurance sectors are underdeveloped. The securities law and regulations are generally effective; however, resources for securities markets oversight are insufficient, and independence is affected by unfilled positions, including a commissioner’s post.
Keywords:
ISCR; CR; bank; Comision Nacional de Valores; securities; banking system assets; firm; license bank; bank secrecy law; CNV staff; asset forfeiture; CFT obligation; Panamanian-headquartered bank; well-developed banking system; return on assets; Anti-money laundering and combating the financing of terrorism (AML/CFT); Commercial banks; Insurance; Central America
Cover IMF Staff Country Reports
Jamaica: 2016 Article IV Consultation, Eleventh and Twelfth Reviews Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Jamaica
International Monetary Fund. Western Hemisphere Dept.
This paper aims to discuss the economic reform program in Jamaica that focuses on reducing macroeconomic vulnerabilities, fostering growth, creating conditions for financial deepening and inclusion, reallocating public resources to maximize economic returns, and improving competitiveness. After three years of difficult economic reforms, inflation is at historical lows, current account deficit has more than halved, net international reserves have doubled, and access to domestic and international financial markets has been restored, supported by upgrades in credit ratings and historically high business confidence indicators. Comprehensive reforms in tax policy and administration have been and continue to be undertaken, while strict adherence to fiscal discipline have helped place debt on a downward trajectory.
Keywords:
ISCR; CR; reform; government; reform agenda; private sector; government of Jamaica; phased personal income tax reform; IMF definition; government's commitment; Public sector; Global; Caribbean
Cover IMF Staff Country Reports
Israel: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency; Banking Supervision; Securities Supervision; and Payments Systems
International Monetary Fund
The recent government administrations and the Bank of Israel (BOI) are determined to obtain and preserve a stable currency and macroeconomic environment, in addition to deepening the financial sector. The BOI plays a key role in liquidity management and absorbing liquidity shocks owing to the uneven development of financial markets. The paper summarizes assessment of Israel's observance of financial sector supervision standards and codes. Israel has relatively well-developed, capable, and transparent financial sector supervision and monetary policy formulation. Insurance and pension reform should be completed.
Keywords:
ISCR; CR; central bank; monetary policy; exchange rate; credit risk; interest rate; mutual fund; securities law; banking sector; Israeli bank; Bank supervision; Insurance; Payment systems; Securities; Global
Cover IMF Staff Country Reports
Kingdom of the Netherlands-Netherlands: Publication of Financial Sector Assessment Program Documentation: Detailed Assessment of Observance on IOSCO Principles and Objectives of Securities Regulation
International Monetary Fund
The Netherlands Authority for Financial Markets (AFM) has developed a robust supervisory framework, which exhibits high levels of implementation of the International Organization of Securities Commissions Principles. The AFM’s efforts are complemented by The NetherlandsCentral bank's (DNB) program of prudential supervision, which is reasonable and credible. Gaps in the legal framework for issuers, and on management of collective investment schemes, in the case of the DNB, have imposed limitations. Their ability to react in a swift manner to emerging risks in the financial sector is limited.
Keywords:
ISCR; CR; management company; audit firm; open-end fund; insider trading; equity capital; Auditing; Securities; Compliance audit; Legal support in revenue administration; Europe