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Cover -- Contents -- Glossary -- Executive Summary -- I. Introduction -- II. Selected Features of the Banking Supervision Department -- A. Overall Framework -- B. Supervisory Stance and Risk Appetite -- C. Operational Independence -- III. Stability and Competition Objectives -- A. The Relationship between Stability and Competition -- B. The Current Policy Debate -- C. The Mission's Evaluation -- D. Supervisory Authority for Credit Institutions -- IV. Evaluation of the Supervisory Approach -- A. Engagement Model and Approach to Banking Supervision -- B. Findings and Recommendations -- Table

Cover -- CONTENTS -- Glossary -- EXECUTIVE SUMMARY -- BACKGROUND -- STRUCTURE OF THE BANKING SYSTEM -- POTENTIAL FINANCIAL STABILITY ISSUES IN BANK FUNDING -- POLICY RECOMMENDATIONS -- FIGURES -- 1. Interest Rates, 2009-2016 -- 2. Structure of Bank Liabilities as of September 2015 -- 3. Short-Term Interest Rates as of June 2016 -- 4. Covered Bonds Outstanding, 2006-2014 -- 5. Spreads of German Government Bonds as of June 2016 -- TABLES -- 1. Main Recommendations -- 2. Structure of the Banking System, September 2015

Cover -- Contents -- Glossary -- EXECUTIVE SUMMARY -- INTRODUCTION -- STATUS OF IMPLEMENTATION OF THE IMF 2015 ROSC RECOMMENDATIONS -- A. The Observed Principles without Recommendations -- B. The Observed Principles with Recommendations -- C. The Largely Observed Principles -- D. The Partly Observed Principles -- FINANCIAL STABILITY OF THE INSURANCE SECTOR -- A. Market Structure and Activity -- B. Risks and Challenges -- C. Stress Testing -- D. Interlinkages and Spill-overs to the Financial Sector -- FIGURES -- 1. EU Comparison of Unit Linked Business proxied by Gross

Cover Page -- Title Page -- Copyright Page -- Contents -- Appendices -- Tables -- Figures -- Boxes -- Glossary -- Executive Summary -- 1. Summary of Recommendations -- Introduction -- 1. Testing Program under the 2014 FSAP Update -- Solvency Risk -- A. Methodologies -- 2. Macro-financial Scenarios (Key Variables) -- 1. Modeling Approaches and Assumptions in the TD and BU STs -- 2. Insurance Stress Testing by the FSB -- B. Results for the Banking Sector -- 3. Bank-Scenario-based Stress Test Results -- 4. Bank-Top Down Stress Test System-wide Capital Shortfall -- 5. Top Down Capital Ratio Distribution -- 2. Results of Global Market Shocks -- 3. Sensitivity Analyses-Large Exposure Impacts -- 4. Sensitivity Analyses-Interest Rate Hike Impacts on Household Debt -- 5. Sensitivity Analyses-Market Risks on Trading Book -- 6. Sensitivity Analyses-Market Risks on the Trading Book -- 7. Sensitivity Analyses-Interest Rate Risks on the Banking Book -- C. Results for the Insurance Sector -- 6. Insurance-CAR Coverage Ratios -- 7. Insurance-Return on Equity -- 8. Insurance-Reduction in available capital -- 8. Insurance-Effect on Available and Required Capital -- D. Aggregating Banking and Insurance Stresses -- Liquidity Risk -- 9. Bank-Liquidity Stress Test -- Contagion Risk -- 10. Financial System Spillover Coefficients -- Recommendations -- I. Risk Assessment Matrix (RAM) -- II. Macro-financial Scenarios -- III. Stress Test Matrix (STeM) for the Banking Sector -- IV. Stress Test Matrix (STeM) for the Insurance Sector -- Footnotes

This paper discusses the results of the Financial System Stability Assessment on the United States made under the Financial Sector Assessment Program. It is found that welcome steps have been taken in strengthening the financial system. The Financial Stability Oversight Council now provides a useful forum for coordination, the regulatory perimeter has expanded, information sharing among agencies has improved, supervisory stress testing is leading changes in risk measurement and management, and new resolution powers have been established. However, new pockets of vulnerabilities have emerged, pa

The financial stability assessment under the Financial Sector Assessment Program (FSAP) forKorea was carried out in close collaboration with the authorities. The assessment included top- down (TD) and bottom-up (BU) stress testing of Korea's commercial banks and certain non-bank depository institutions (NBDIs); and evaluation of the potential contagion across banks (stemming both from funding pressures and potential defaults). The FSAP team did not have access to confidential supervisory data for the stress tests and the contagion analyses.2 The practice of withholding information in the conte

The National Bank of Georgia (NBG) has a broad mandate to safeguard financial stability inGeorgia and has applied several measures that can be considered macroprudential. For instance, the NBG adjusted risk weights for foreign-currency (FX) loans to unhedged borrowers in a countercyclical manner in recent years. Going forward, it plans to introduce the Basel III countercyclical capital buffer regime for the banking system in 2015, which will require that it sets or releases the buffer on a regular basis, based on assessments of cyclical risks.Policymakers should consider establishing a full-fl

This paper discusses key findings of the Report on the Observance of Standards and Codes for Hong Kong Special Administrative Region (HKSAR). HKSAR has a very high level of compliance with the Basel Core Principles for Effective Banking Supervision. The Hong Kong Monetary Authority (HKMA) complements its high supervisory standards with a sustained commitment to the international regulatory reform agenda where it is an early adopter of many standards. The banking system is characterized by the dominant presence of institutions with foreign ownership, including the systemic banks, which puts a p

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

EXECUTIVE SUMMARYBarbados has a relatively well-developed financial system, including a large offshore sector.1 The onshore system is dominated by large, regionally active banks. Banking services to the population are also provided by the credit union sector. The system also includes a mature but concentrated insurance sector with extensive international affiliates, and other non-bank financial institutions provide credit and other instruments for savers. The offshore sector is financially segregated from the domestic economy and is dominated by international banks mainly conducting treasury a

Cover -- CONTENTS -- GLOSSARY -- EXECUTIVE SUMMARY -- INTRODUCTION -- FINANCIAL SECTOR STRUCTURE AND PERFORMANCE -- A. The Banking Sector and Financial Stability -- B. The Nonbanking Sector and Financial Stability -- RISKS AND RESILIENCE OF THE BANKING SECTOR -- A. Financial Sector Vulnerabilities -- B. Banking Sector Resilience -- C. Credit Risk -- D. Liquidity Risk -- E. Interbank Contagion Risk -- FINANCIAL SECTOR SUPERVISION AND REGULATORY FRAMEWORK -- CRISIS MANAGEMENT AND SAFETY NETS -- A. Crisis Preparedness -- B. Responding to a Crisis -- C. Deposit Insurance System -- DEVELOPMENT AND MARKET STRUCTURE -- ANTI-MONEY LAUNDERING -- FIGURES -- 1. Banking Systems Balance Sheet -- 2. Comparative Indicators of Banking System Soundness -- 3. Comparison of Microfinancial Buffers, 2009 vs. 2013 -- 4. Estimated Banks' Capital Needs if the Exchange Rate Depreciates Sharply -- 5. Large Concentration Exposures -- 6. Supervisory Structure -- TABLES -- 1. Selected Economic and Financial Indicators, 2011-2019 -- 2. Structure of the Banking System -- 3. Financial Soundness Indicators, 2010-2013 -- 4. End-2012 Banks' Income Statements -- 5. Number of Microfinance Institutions Not Meeting the Regulatory Norms -- 6. Risk Assessment Matrix -- 7. Solvency and Liqudity Stress Tests -- 8. Key Recommendations (Extended) -- APPENDICES -- I. The Central Bank: Autonomy and Monetary Policy Tools -- II. De-dollarization: Preconditions, Operational Aspects, and Risks -- III. The Resolution of the Banque Congolaise -- IV. Observance of the Basel Core Principles -- V. Stress Test Matrix.

This paper discusses findings of the Detailed Assessment of Observance of the Insurance Core Principles on Denmark. Insurance regulation in Denmark has a good level of compliance with the Insurance Core Principles. A particular strength of the Danish Financial Supervisory Authority's approach is its close focus on key risks in the sector and its readiness to require action by companies to address vulnerabilities. Regular, even daily monitoring of market risk sensitivities is carried out on life insurers' balance sheets. In nonlife insurance, regular testing of a number of key performance ratio

EXECUTIVE SUMMARYDespite the global and domestic shocks of 2008?2009, the banking sector remains sound. Salvadoran banks were not directly exposed to the global financial crisis. However, the parent banks of several major Salvadoran banks were hit hard and directed subsidiaries to conserve risk capital. The higher risk aversion and recession in the United States, combined with uncertainty about the 2009 elections, led to a sharp economic downturn, and a decline in both credit demand and supply. Banks nonperforming loans increased and profitability declined. Even so, capitalization remained hig

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country