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...

This paper reviews Financial Sector Regulation and Supervision for Turks and Caicos Islands (TCI). The TCI has a structure for financial supervision that encompasses banking, insurance, mutual funds, investment brokers, trusts, trustees, companies’ registration, and company service providers....

This report provides an assessment of the British Virgin Islands’s (BVI) compliance with the Basel Core Principle for effective banking supervision. The BVI has the preconditions for effective banking supervision. It has specific legislation governing international cooperation and mutual legal...

The British Virgin Islands (BVI) has most of the essential elements for a suitable framework for financial supervision. There is a weakness with respect to onsite supervision of banking, insurance, and securities sectors; and there is currently no regular and comprehensive examination and...

This paper focuses on key findings of the detailed assessment of observance of standards and codes in the financial sector of the Cook Islands (CI). The new legal framework in CI represents an important first step in correcting deficiencies, as they are all addressed in the new set of laws. The...

This Review of Financial Sector Regulation and Supervision in Labuan, Malaysia, highlights the supervisory and antimoney laundering frameworks. Labuan, an offshore financial center located in Malaysia, has all the essential elements for a suitable framework for financial supervision....

The papers published in this volume are based on an IMF seminar held in 1988 covering a broad range of topics dealing with monetary and financial law. Topics presented at the seminar focused on the liberalization of capital movements, data dissemination, the IMF's goals in financial surveillance...

This paper analyzes the evolution and effectiveness of Indonesia’s monetary control system following the financial reforms implemented since 1983. These reforms entailed the abolition of interest rate and credit ceilings, a change in the central bank’s funding role, the introduction of new...

This paper surveys the evolution of the Chilean financial system from 1975 to 1985, analyzes the causes and the consequences of the major crisis in the financial system during 1981-83, and examines the measures adapted to contain the crisis and restore the financial system to normalcy. The...

This Background Paper examines issues in Uganda’s financial sector reform. In Uganda, reforms in the financial sector have included the liberalization of interest rates, the development of instruments of indirect monetary control, the modernization of banking legislation, the restructuring of...