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Business and Economics > Insurance

You are looking at 1 - 10 of 22 items for :

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Cover Technical Assistance Reports
Papua New Guinea: Technical Assistance Report-Financial Sector Stability Review
International Monetary Fund. Monetary and Capital Markets Department
The main objective of the FSSR diagnostic mission was to help the PNG authorities build a roadmap of technical assistance (TA) to address identified financial sector needs and gaps, with a view to strengthen resilience of financial institutions and to enhance the policy framework. The PNG FSSR diagnostic covered six areas: (i) macroprudential policy; (ii) regulation and supervision of banks and other deposit-taking financial institutions; (iii) regulation and supervision of insurance companies and pension funds; (iv) financial safety net and crisis preparedness framework; (v) financial market infrastructure; and (vi) financial sector statistics.
Keywords:
Financial sector stability; IMF MCM; Macro-financial risk; PNG FSSR TA roadmap.; IMF's Monetary; FSSF phase; FSSR recommendation; payment system oversight function department; IMF executive directors; BPNG's management; investment strategy; bridge bank authority; Macroprudential policy; Insurance; Payment systems; Global
Cover IMF Staff Country Reports
Trinidad and Tobago: Technical Assistance Report-Strengthening Cybersecurity in Financial Institutions
International Monetary Fund. Monetary and Capital Markets Department
This technical note evaluates strengthening cybersecurity in financial institutions of Trinidad and Tobago. The deliverables included a capacity-building seminar on regulation of cyber risk. The Central Bank of Trinidad and Tobago identified the need for filling regulatory gaps and desires to issue a focused guideline on cybersecurity covering governance, risk management, incident reporting, and cyber hygiene, and intends to develop a draft guideline for consultation with its regulated institutions in the first quarter of 2023. Supervisory arrangements for Information and Communication Technology/cyber risks need further improvements and resource constraints within Financial Institutions Supervision Department need to be addressed urgently. The Identity and Access Management project has been formally set up and is now in Phase 1, which is considered preparatory. The governance of the project, the high-level roadmap, and the deliverables for Phase 1 are generally in line with good practices. It is recommended to establish regular cybersecurity meetings and reporting regime at the Board level with the participation of the Head of IT Security.
Keywords:
cybersecurity governance; Cybersecurity governance assessment; cybersecurity policy; control environment; pension firm; Cyber risk; Pensions; Insurance; Payment systems; Financial sector; Global
Cover IMF Staff Country Reports
Israel: Report on the Observance of Standards and Codes
International Monetary Fund
Israel’s Report on Standards and Codes for the financial sector is presented. The authorities take a proactive approach to supervision and correcting incipient problems, and regulations are generally up to date. The assessment of implementation of the Basel Core Principles for Effective Banking Supervision has been conducted in November 2011 within the framework of the Financial Sector Assessment Program Update for Israel. The Bank of Israel and specifically its Banking Supervision Department headed by the Supervisor of Banks is responsible for prudential oversight of banks.
Keywords:
ISCR; CR; central bank; clearing house; credit risk; risk assessment; active market; capital base; internal auditor; risk management; interbank market; insider trading; Insurance companies; Payment systems; Insurance; Legal support in revenue administration; Bank supervision; Global
Cover IMF Staff Country Reports
Republic of Tajikistan: Financial System Stability Assessment, including Reports on Observance of Standards and Codes on the following topics, Banking Supervision, and Monetary and Financial Policy Transparency
International Monetary Fund
The Republic of Tajikistan’s Financial System Stability Assessment and reports on the Observance of Standards and Codes are examined. The Tajik financial system is small despite recent rapid growth. Overall, banks remain well capitalized and liquid, but the brisk expansion of their loan portfolios is rapidly eroding capital buffers in a context where governance and supervision of the financial system raise concerns. The governance, regulatory, and supervisory frameworks for the financial sector should be strengthened. The key areas for the banking sector include licensing, remedial actions, and disclosure of significant shareholders and beneficial ownership.
Keywords:
ISCR; CR; balance sheet; monetary policy; financial system; interest rate; foreign currency; joint stock; NBT bank supervisor; bank lending; credit risk; negative equity; liquidity management; Tajik bank; transparency practice; exchange rate; broad money; NBT guideline; Loans; Commercial banks; Payment systems; Credit risk; Insurance; Global
Cover IMF Staff Country Reports
Republic of Moldova: Financial System Stability Assessment: Update
International Monetary Fund
This paper discusses key findings of the Financial System Stability Assessment (FSSA) on Moldova. The assessment reveals that vulnerabilities of the financial sector appear to be manageable. Stress tests on likely scenarios do not indicate major vulnerabilities for the banking system as a whole. Since the 2004 Financial Sector Assessment Program, the National Bank of Moldova (NBM) has made progress in identifying bank owners, an issue then flagged as a major vulnerability, but other financial supervisors have been considerably less successful in this respect.
Keywords:
ISCR; CR; NBM; bank; interest rate; market; NBM Law; NBM certificate; transmission mechanism; NBM supervisor; payment system infrastructure; settlement bank; Core principle; NBM's bank; bank supervisor; NBM regulation; system infrastructure; Commercial banks; Payment systems; Insurance; Nonperforming loans; Western Europe; Global
Cover IMF Staff Country Reports
Australia: Financial Sector Assessment Program: Detailed Assessment of Observance of Standards and Codes
International Monetary Fund
This assessment of the current state of Australia’s implementation of the Basel Core Principles for Effective Banking Supervision has been completed as part of a Financial Sector Assessment Program (FSAP) undertaken in December 2005 by the International Monetary Fund. The assessment team reviewed the legal framework for banking supervision. The team had the benefit of working with a comprehensive self-assessment completed by the Australian authorities, enjoyed excellent cooperation with its counterparts, and received all the information it required. The financial system is relatively large and diversified.
Keywords:
ISCR; CR; central bank; risk management; financial system; internal audit; monetary policy; business plan; banking group; Insurance companies; Insurance; Payment systems; Capital adequacy requirements; Global
Cover IMF Staff Country Reports
Spain: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Supervision, Securities Supervision, Payment Systems, Securities Settlement Systems, and Financial Policy Transparency
International Monetary Fund
The Financial System Stability Assessment found the financial sector to be vibrant, resilient, highly competitive, and well supervised and regulated. Stress tests showed credit institutions and insurers to be highly resilient to a variety of shocks. It also found a high degree of observance of the principles dealing with effective supervision by the three regulatory authorities—the Bank of Spain, National Securities Market Commission, and the Directorate General of Insurance and Pension Funds. The Committee on Payment and Settlement Systems Core Principles assessed that all principles are observed by the Real-Time Gross Settlement System.
Keywords:
ISCR; CR; Bolsas y Mercados Españoles; credit institution; risk assessment; risk management; executive authorities; supervisory authority; financial market; interest rate; board of directors; central bank; credit risk; financial system; internal audit; corporate governance; monetary policy; short position; Credit; Insurance companies; Insurance; Payment systems; Securities; Europe; Global
Cover Central America
Central America
Structural Foundations for Regional Financial Integration
International Monetary Fund

Abstract

Intraregional financial activity in Central America has grown substantially in the past decade, contributing to efficiency and economic development. At the same time, the expansion of activities by regional conglomerates has increased the challenges to supervisory authorities of containing the risks of contagion. Prepared as part of the Central America Financial Sector Regional Project by an IMF and World Bank staff team, this book outlines trends in the region's financial sector integration, supervisory responses, development of the insurance sector, payment and securities settlement arrangements, and worker remittances. It addresses the many common policy challenges facing Central American countries--Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama--in financial sector reform. The book offers key policy recommendations.

Keywords:
BOOK; remittance; bank; remittance flow; payment system; financial institution; foreign currency; remittance securitization transaction; remittance cost; insolvency proceeding; Payment systems; Insurance; Insurance companies; Securities; Remittances; Central America; Global
Cover IMF Staff Country Reports
Morocco: Financial System Stability Assessment
International Monetary Fund
The Financial System Stability Assessment of Morocco reviews the reform program that is aimed at establishing a modern, market-oriented financial system that optimizes the mobilization of savings and the allocation of financial resources. It reviews the modernization of the banking sector and the development of competition within the sector, development of financial markets, and removal of constraints on financial system activity. It also provides reports on the Observance of Standards and Codes on Insurance Regulation, Securities Regulation, Payment Systems, and Monetary and Financial Policy Transparency.
Keywords:
ISCR; CR; central bank; government; government support; business sector; reform agenda; government entity; banking system; authorities' priority; Commercial banks; Insurance companies; Payment systems; Securities; Insurance; Maghreb; Global
Cover IMF Staff Country Reports
People's Republic of China—Hong Kong Special Administrative Region: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Securities Regulation, Insurance Supervision, Payment Systems, Securities Settlement Systems, Monetary and Financial Policy Transparency, Corporate Governance, and Anti-Money Laundering and Combating the Finance of Terrorism
International Monetary Fund
This paper evaluates key findings of the Financial System Stability Assessment for Hong Kong Special Administrative Region (SAR), including Reports on the Observance of Standards and Codes on Banking Supervision, Securities Regulation, Insurance Supervision, Payment Systems, Securities Settlement Systems, Monetary and Financial Policy Transparency, and Corporate Governance. Overall, the financial system in Hong Kong SAR is resilient, sound, and overseen by a comprehensive supervisory framework. The banking system is sufficiently well capitalized and profitable to be able to withstand the more likely macroeconomic shocks, although some pressures on bank profits are emerging.
Keywords:
ISCR; CR; central bank; financial system; monetary policy; corporate governance; U.S. dollar; Hong Kong dollar; banking sector; beneficial owner; HKSAR government; exchange rate; clearing house; Securities; Insurance; Anti-money laundering and combating the financing of terrorism (AML/CFT); Payment systems; Global