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Argentina: Detailed Assessment of Compliance of Basel Core Principles for Effective Banking Supervision
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2012: Issue 268
Language:
English
Publication Date:
14 Sep 2012
DOI:
https://doi.org/10.5089/9781475510607.002
ISBN:
9781475510607
ISSN:
1934-7685
Pages:
114
Keywords:
ISCR; CR; central bank; financial system; foreign currency; BCRA regulation; interest rate; credit risk; internal audit; foreign exchange; private sector; country risk; Market risk; Operational risk; Credit risk; Loans; Internal controls; Global; Africa
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This paper is a detailed assessment of compliance of the Basel Core Principles for effective banking supervision adopted by the Argentinean government. The financial sector in Argentina is dominated by the banking sector, with financial conglomerates managing about 85 percent of banking assets, 78 percent of investment funds, and 32 percent of insurance business. The Executive Board identifies the need for strengthening political and financial independence of the Central Bank of Argentina (BCRA). They also recommend a suitable legal framework for banking supervision and powers to enforce compliance with laws and regulations.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund