This note provides a set of high-level recommendations that can guide national regulatory and supervisory responses to the COVID-19 (coronavirus) pandemic and offers an overview of measures taken across jurisdictions to date. The banking sector plays a critical role in mitigating the...

This technical note discusses the current status of banking supervision and regulation in Montenegro in the context of select Basel Core Principles (BCP). This note has been prepared as part of a Financial Sector Assessment Program (FSAP) update conducted jointly by the International Monetary...

The experiences of past financial crises have strengthened the Russian bank resolution framework. The resolution framework has been effective in preserving financial stability. The effectiveness of bank resolution could be improved. Introduction of the full range of resolution powers and...

Banks will want to influence the bank regulator to favor their interests, and they typically have the means to do so. It is shown that such ""regulatory capture"" in banking does not imply ineffectual regulation; a ""captured"" regulator may impose very tight, costly prudential requirements to...

This paper examines the reasons for this, specifically focusing on regulations or market practices that can accentuate economic cycles. Although recognizing various practical limitations, new policy responses are identified that could help to mitigate procyclicality. Although economic cycles are...

In this paper we construct indices of transparency of monetary and financial policies, based on self-evaluations carried out by 135 IMF member countries in 1999, and use them to identify transparency patterns across different policies and country groups. We find that across all countries,...

This paper presents Mongolia’s Financial System Stability Assessment, including reports on the Observance of Standards and Code. The Mongolian financial system is developing and performing well, in line with the economy as a whole, but faces a number of challenges. There are signs that the...

Liechtenstein has a GDP of US$5.2 billion, of which 40 percent comes from industry and 30 percent from financial services. Currently, 15 banks operate in Liechtenstein (one additional bank is in the process of being wound down without loss to the depositors). The market is highly concentrated...

This paper presents an assessment of Financial Sector Supervision and Regulation for Bermuda. The Bermudian authorities have made impressive progress in developing and implementing a risk-focused approach to supervision across the range of their sectoral supervisory responsibilities. Full...