Luxembourg’s 2006 Article IV Consultation reports that the dominant financial sector has supported a steady rebound in economic activity. Growth is projected to remain healthy in the near term, but trend growth may decline as the rapid financial sector expansion may decelerate. The...

This report presents a description of the stress test exercises for Spain’s banking and insurance systems. The exercises were carried out in the context of the Financial Sector Assessment Program with the aim of assessing the resilience of the financial system to key risks. It describes...

This paper presents an update to Hungary’s Financial System Stability Assessment, including a Report on the Observance of Standards and Codes on Insurance Regulation. The assessment reveals that financial intermediation in Hungary has continued to deepen. The expansion of bank lending at...

This paper highlights key findings of the Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, and Securities Regulation for Chile. The assessment reveals the Chilean banking system...

This Selected Issues paper of the United Kingdom analyzes the official projections of public pension spending and risks, as well as the strategy to increase private pension provision. It provides a comparison of stylized facts regarding business cycle developments in the three economies, and an...

This paper presents findings of Financial System Stability Assessment for the Netherlands, including Reports on the Observance of Standards and Codes on Banking Supervision, Securities Regulation, Insurance Regulation, and Corporate Governance. Overall, the financial system is sound, resilient...

This paper discusses a Detailed Assessment of the Observance of the Insurance Core Principles for Italy. The assessment reveals that insurance supervision in Italy occurs within a legal framework that incorporates the relevant European Union Directives. More than two-thirds of the principles...

This 2005 Article IV Consultation highlights that Norway’s real mainland GDP growth rebounded strongly in 2004, after a slowdown that began in late 2002. Very supportive monetary conditions, high oil prices, rising housing prices, strengthening consumer and business confidence, and an...

In today's financial system, complex financial institutions are connected through an opaque network of financial exposures. These connections contribute to financial deepening and greater savings allocation efficiency, but are also unstable channels of contagion. Basel III and Solvency II should...

This report is an analysis of the insurance core principles of Malaysia. This assessment gives a clear understanding of the regulatory and supervisory framework of the insurance sector of Malaysia. Bank Negara Malaysia (BNM) is the best insurance regulator in this region. Six percent of the...