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Law > Business and Financial

You are looking at 1 - 5 of 5 items for :

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Cover IMF Staff Country Reports
Belgium: Financial Sector Assessment Program-Technical Note on Regulation and Supervision of Less Significant Institutions
International Monetary Fund. Monetary and Capital Markets Department
This paper focuses on the technical note on regulation and supervision of less significant institutions in Belgium. The financial sector assessment program (FSAP) undertook a targeted review of Belgium’s Less Significant Institutions (LSI) and third-country branches (TCBs) banking regulation and supervision. The National Bank of Belgium (NBB) and Financial Services and Markets Authority have well-established processes for prudential, product and conduct supervision of LSIs. While NBB’s overall supervisory approach is adequate, the regulatory framework for corporate governance could be enhanced. Internal decision-making processes and the underpinning of certain decision proposal could in some specific instances be enhanced. With regard to NBB’s internal supervisory processes, some fine-tuning and continued attention could be useful. The NBB should continue to ensure adequate staffing for LSI and TCB supervision and continue to carefully consider how to address any supervisory Information Technology risk concerns. Banks’ internal capital target could usefully be added to the NBB’s internal monitoring. A structured approach for conduct risk and consumer protection information sharing with the FSMA and the Ministry of Economic Affairs should be put in place.
Keywords:
Belgium LSI sector; credit institution; market development; LSI sector; NBB governance Manual; Belgium's Less Significant Institutions; Financial Sector Assessment Program; External balance assessment (EBA); Bank supervision; Bank legislation; Global
Cover IMF Staff Country Reports
South Africa: Financial Sector Assessment Program-Technical Note on Banking Regulation and Supervision
International Monetary Fund. Monetary and Capital Markets Department
The implementation of a twin peaks model represents a significant change to the South African financial supervisory architecture. The Prudential Authority (PA), operating within the administration of the South African Reserve Bank (SARB), is responsible for promoting and enhancing the safety and soundness of financial institutions that provide financial products and securities services. A separate authority, the Financial Sector Conduct Authority2 (FSCA), is responsible for market conduct regulation and supervision. The introduction of the twin peaks architecture was motivated by a need to increase the robustness of the financial sector regulatory and supervisory system, reinforce financial stability, improve protection of customers, and enhance cooperation among the regulators.
Keywords:
IMF-World Bank Financial Sector Assessment Program; WB staff; staff team of the International Monetary Fund; FSAP's finding; bank supervision department; H. liquidity risk; Bank supervision; Corporate governance; External audit; Auditing; Africa; Global
Cover Departmental Papers
Strengthening Bank Regulation and Supervision: National Progress and Gaps
Ljubica Dordevic
,
Caio Ferreira
,
Moses Kitonga
, and
Katharine Seal
The paper employs two complementary strategies. First, it is pursues textual analysis (text mining) of the assessment reports to identify successes and challenges the authorities are facing. Second, it analyzes the grades in the Basel Core Principles assessments, including their evolution and association with bank fragility.
Keywords:
Bank Supervision; Bank Regulation; Basel Accords; Basel Core Principles; Global Financial Crisis; Prudential Requirements; credit risk; liquidity standard; bank capital adequacy; Basel III capital; liquidity risk; liquidity shock; risk assessment; liquidity reserve; liquidity reform; capital conservation buffer; liquidity strain; COVID-19; Corporate governance; Global
Cover IMF Staff Country Reports
Switzerland: Financial Sector Assessment Program: Technical Note: An Assessment of Insurance Core Principles for the Reinsurance Industry
International Monetary Fund
This technical note discusses key findings of the assessment of Insurance Core Principles (ICP) for the reinsurance industry for Switzerland. It reveals that the Swiss reinsurance market is dominated by three large players with a strong international presence. The reinsurance industry comprises 20 professional reinsurers and 50 reinsurance captives with gross premiums written totaling SwF 37.4 billion for 2005. Swiss Re, European Re, and Converium have consistently maintained more than 75 percent market share. More than 95 percent of reinsurance premiums came from foreign business.
Keywords:
ISCR; CR; conglomerate supervision; FOPI official; FOPI staff; supervisory authority; risk management; FOPI's power; corporate governance; insurance group; Insurance companies; Insurance; Corporate governance; Solvency; Insurance supervision; Global
Cover Policy Papers
Financial Sector Regulation - Issues and Gaps
International Monetary Fund
This paper addresses issues in financial sector regulation from two perspectives. First, it reports on the state of implementation of financial regulatory standards across banking, insurance, and securities sectors in a select group of Fund member countries. Second, it raises issues relating to the design of these three sector standards, arising from the implementation experience and the evolving structure of financial systems. In this regard, the paper identifies a few emerging regulatory risks and some cross-sectoral issues that may warrant further guidance by standard setters.
Keywords:
PP; country authorities; due diligence; regulatory standard; balance sheet; banking sector; country circumstances; market country; member country