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Europe > Gibraltar

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  • Type: Journal Issue x
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Cover IMF Staff Country Reports
Gibraltar: Detailed Assessment Report of Observance of the Basel Core Principles
International Monetary Fund
Gibraltar’s Detailed Assessment Report of the Observance of the Basel Core Principles is examined. The principal risks are reputational risk, both for the Gibraltar authorities and for the banks, as the bulk of the assets managed are off the balance sheet with the investment risk carried by the client. Credit risk is largely limited to residential mortgage lending and is heightened by the rapid rise in prices both in Southern Spain and in Gibraltar itself.
Keywords:
ISCR; CR; EU bank accounting directive; banking group; FSC staff; applicant bank; bank management; bank policy; framework description; FSC practice; risk assessment; supervision framework; parent bank; banks in Gibraltar; EU institution; Basel Core Principles; Bank supervision; Capital adequacy requirements; Credit; Global
Cover IMF Staff Country Reports
Gibraltar: Detailed Assessment Report of Observance of the Insurance Core Principles
International Monetary Fund
This paper examines Gibraltar’s Detailed Assessment Report of the Observance of the Insurance Core Principles. Foreign establishments operating in Gibraltar are all European Union (EU)-based and therefore covered by EU directives, including the directive on freedom of establishment. A key reason for the growth in this sector is the ability of firms licensed in Gibraltar to passport their services to EU member states. The domestic insurance market is, however, quite small with a population in the region of 30,000.
Keywords:
ISCR; CR; supervisory authority; guidance note; EU insurer; insurance manager; corporate governance; Gibraltar insurer; IAIS insurance core principle; Insurance companies; Insurance; Virtual currencies; Internal controls