Offshore Financial Centers - The Assessment Program - A Progress Report

Policy Papers ◽  
2006 ◽  
Vol 2006 (58) ◽  
Author(s):  
Keyword(s):  
Financial System ◽  
Financial Sector ◽  
Progress Report ◽  
Second Phase ◽  
Executive Directors ◽  
Assessment Program ◽  
International Financial System ◽  
Standard Component ◽  
Financial Center ◽  
Sector Work

This paper updates Executive Directors on the progress since February 2005 in implementing the second phase of the offshore financial center (OFC) program as agreed in November 2003 (see PIN No. 03/138 at http://www.imf.org). At that time, Directors recognized that OFCs could pose prudential and financial integrity risks to the international financial system. In this context, Directors agreed that the monitoring of OFCs' activities and their compliance with supervisory and integrity standards should become a standard component of the financial sector work of the Fund. They also requested periodic updates on the progress with implementation of the program. Earlier updates were provided in March 2004 (Offshore Financial Centers—The Assessment Program—An Update) and February 2005 (Offshore Financial Centers—The Assessment Program—A Progress Report). With the completion of the first round of assessments, staff have begun implementing the second phase of the program.

Standards and Codes - Implementing the Fund's Medium-Term Strategy and the Recommendations of the 2005 Review of the Initiative

Policy Papers ◽  
2006 ◽  
Vol 2006 (36) ◽  
Author(s):  
Keyword(s):  
World Bank ◽  
Technical Assistance ◽  
Financial Sector ◽  
Executive Directors ◽  
Medium Term ◽  
Assessment Program ◽  
Use Of Resources

This paper informs Executive Directors of the operational changes that are being made to the Fund’s work on Standards and Codes, to implement the Fund’s Medium-Term Strategy (MTS) and the recommendations of the 2005 IMF-World Bank review of the Standards and Codes Initiative. The changes aim at improving (i) the country coverage and prioritization of Reports on the Observance of Standards and Codes (ROSCs) to make more efficient use of resources, (ii) the integration of ROSCs with Fund surveillance and technical assistance, for a better use of ROSC findings and greater support of reform efforts, and (iii) the clarity and timeliness of ROSCs. The paper focuses on the actions that are being taken and does not elaborate on the rationales for the corresponding recommendations, which were discussed by Directors in the context of the MTS and 2005 Review. The actions being taken are summarized in Table 1. Many of the actions do not apply to ROSCs carried out under the aegis of the Financial Sector Assessment Program (FSAP), which are typically subject to a separate set of procedures under the FSAP, or to financial sector ROSCs of Offshore Financial Centers, which are conducted separately. According to the proposals in the MTS, the next review of the Standards and Codes Initiative would take place in 2010.

Financial Surveillance Strategy - Progress Report

Policy Papers ◽  
2013 ◽  
Vol 2013 (15) ◽  
Author(s):  
Keyword(s):  
Financial Sector ◽  
Progress Report ◽  
Surveillance Strategy ◽  
Work Program ◽  
Assessment Program ◽  
One Year ◽  
The One

This note provides background to the informal Board briefing on the one-year progress in implementation of the FSS. The Board will have the opportunity to review progress in implementing the FSS in the context of the 2014 TSR and the 2014 review of the Financial Sector Assessment Program (FSAP), as well as through periodic reports to the International Monetary and Financial Committee and the semi-annual work program.

scholarly journals Republic of Kosovo

2020 ◽  
Vol 20 (217) ◽  
Author(s):  
Keyword(s):  
Balance Sheet ◽  
Financial System ◽  
Financial Sector ◽  
Assessment Program ◽  
Financial Soundness ◽  
The Imf

The FSSR mission team conducted a diagnostic review of CBK governance and of the financial system, undertook a stocktaking of the implementation of recommendations from the 2012 Financial Sector Assessment Program (FSAP) and MCM TA, and proposed a TA Roadmap to support the efforts of the authorities to address key gaps and vulnerabilities. The IMF Statistics Department (STA) supported the mission with an assessment of the compilation of financial soundness indicators (FSIs), monetary and financial statistics, and balance sheet matrices (Annex I).

Ex Post Assessments of Members with a Longer-Term Program Engagement—Revised Guidance Note

Policy Papers ◽  
2010 ◽  
Vol 2010 (15) ◽  
Author(s):  
Keyword(s):  
Financial System ◽  
Financial Sector ◽  
Global Level ◽  
Consultation Process ◽  
International Financial System ◽  
Country Level ◽  
Guidance Note ◽  
Ex Post ◽  
Program Engagement ◽  
Analytical Tools

Financial sector issues and policies are central to the Fund’s surveillance mission, as the recent crisis has amply demonstrated, and the institution has placed a high priority on enhancing the coverage and depth of analysis of financial sector issues in surveillance. Achieving this goal requires far-reaching operational and resource adjustments, which are already underway. However, these alone may not be enough. Changes in the Fund’s mandate and modalities of surveillance may also be needed. A key goal of these changes should be to strengthen multilateral surveillance. New analytical tools and effective forms of engagement at the global level are crucial for financial surveillance, given an increasingly interconnected and globalized international financial system. At the same time, financial surveillance at the country level should also be strengthened and become a central part of the Article IV consultation process.

scholarly journals Luxembourg

2017 ◽  
Vol 17 (256) ◽  
Author(s):  
Keyword(s):  
Financial System ◽  
Institutional Arrangement ◽  
Financial Sector ◽  
Technical Note ◽  
Investment Fund ◽  
Macroprudential Policy ◽  
Assessment Program ◽  
Systemic Risks ◽  
Fund Industry ◽  
Made In

This Technical Note discusses the findings and recommendations made in the 2017 Financial Sector Assessment Program for Luxembourg in areas of macroprudential framework and policies. Luxembourg has a large financial system that contributes a significant share of GDP and is globally interconnected. The institutional arrangement is broadly appropriate for effective macroprudential policy, but some areas should be strengthened. The monitoring and analysis of systemic risks by the Banque Centrale du Luxembourg is appropriate and performed on a timely basis. The authorities are encouraged to continue to increase efforts to monitor risks related to the investment fund industry.

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