Denmark; Financial Sector Assessment Program: Detailed Assessment of Observance of the Basel Core Principles

This paper discusses key findings of the Detailed Assessment of Observance of the Basel Core Principles for Denmark. The assessment reveals that the basic legal framework is contained in the Financial Business Act (FBA), and in executive orders and explanatory guidelines issued pursuant to the FBA. These provide powers for the Danish Financial Supervisory Authority to supervise all financial institutions. Legal protection for supervisors is currently not provided for in specific legislation but general legislative arrangements ensure that staff is protected against lawsuits while discharging their duties in good faith.

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Year of publication:	2007-03-23
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Bank supervision \| Basel Core Principles \| Bonds \| Commercial banks \| Financial institutions \| Financial Sector Assessment Program \| banking \| banking supervision \| banking supervisors \| capital adequacy \| foreign banks \| supervisory authorities \| consolidated supervision \| internal controls \| prudential regulation \| supervisory authority \| connected lending \| money laundering \| banking license \| internal control \| accounting standards \| bank management \| share capital \| risk profile \| capital requirement \| financial supervision \| licensing process \| banking sector \| risk management \| external auditor \| internal audit \| foreign exchange \| secrecy laws \| life insurance \| holding company \| share information \| foreign branches \| international standards \| capital adequacy ratio \| bankers \| international accounting standards \| international accounting standard \| good faith \| electronic money \| bank lending \| suspicious transactions \| payment systems \| internal control procedures \| banking institutions \| bank holding \| regulatory requirements \| international cooperation \| securities regulation \| banks ? asset \| internal procedures \| accounting standard \| bank holding companies \| market participants \| bank takes \| beneficial owners \| legal obligations \| licensing authority \| economic crimes \| unusual transactions \| reporting requirements \| banking activities \| supervisory process \| reporting obligations \| financial soundness \| problem bank \| judicial authorities \| bank branches \| integrated supervision \| criminal elements \| credit policy \| information exchange \| bank subsidiaries \| supervisory approach \| banking system \| anti money laundering \| risk management systems \| capital base \| supervisory practice \| financial strength \| securities activities \| banking institution \| mortgage banking \| mortgage bank \| collateralized mortgage \| bank of england \| audit function \| internal review \| bank capital \| enforcement powers \| deposit insurance \| insurance business \| bank exposures \| customer identification \| supervisory responsibilities \| bank groups \| bank for international settlements \| private banking \| financial intelligence unit \| banking legislation \| competent authorities \| supervisory agency \| return on equity \| internal rules \| specialized bank

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 07/118 4 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011243017