Front Matter Page
© 2010 International Monetary Fund
October 2010
IMF Country Report No. 10/319
This Detailed Assessment of the Basel Core Principles for Effective Banking Supervision on San Marino was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed in March 2010. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of San Marino or the Executive Board of the IMF.
The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information.
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Washington, D.C.
Front Matter Page
Financial Sector Assessment Program
San Marino
Basel Core Principles for Effective Banking Supervision
Detailed Assessment of Observance
March 2010
International Monetary Fund
Monetary and Capital Markets Department
Contents
Acronyms
I. Summary, Key Findings, and Recommendations
A. Introduction
B. Information and Methodology Used for Assessment
C. Institutional and Macroprudential Setting, Market Structure—Overview
D. Preconditions for Effective Supervision
E. Main Findings
F. Recommended Action Plan and Authorities’ Response
G. Authorities’ Response to the Assessment
II. Detailed Findings
Tables
1. Summary Compliance with the Basel Core Principles
2. Recommended Action Plan to Improve Compliance with the Basel Core Principles
3. Detailed Assessment of Compliance with the Basel Core Principles
4. Balance Sheet of the Banking System
5. Income Statement
Acronyms
| AML/CFT |
Anti-Money Laundering/Combating the Financing of Terrorism |
| BCP |
Basel Core Principles for Effective Banking Supervision |
| CBSM |
Central Bank of San Marino |
| CCS |
Committee for Credit and Savings |
| CDD |
Customer Due Diligence |
| DGCB |
Director General of the CBSM |
| FIA |
Financial Intelligence Agency |
| FSAP |
Financial Sector Assessment Program |
| GCCB |
Governing Council of the CBSM |
| GGCSM |
Grand and General Council |
| IFRS |
International Financial Reporting Standards |
| MoU |
Memorandum of Understanding |
| PEP |
Politically Exposed Person |
| SCCB |
Supervision Committee of the Central Bank |
| STR |
Suspicious Transaction Report |