The staff report highlights that the insurance sector in Sweden is well developed and mature. The captive insurance segment is mainly driven by tax advantages. This assessment provides an update on the significant regulatory and supervisory developments in the insurance sector of Sweden since...

This paper discusses key findings of the assessment of India’s compliance with the International Association of Insurance Supervisors Insurance Core Principles (ICP). Indian Regulatory and Development Authority (IRDA) has so far decided that India is not yet ready for a full transition to...

Israel’s compliance with International Organization of Securities Commissions’ objectives and Principles of Securities Regulation has been assessed. The regulatory regime is well developed and in most respects is comparable with that of major jurisdictions. For the most part, it is...

An assessment of the level of implementation of the International Organization of Securities Commissions (IOSCO) Principles in Nigeria was conducted as part of the International Monetary Fund (IMF)-World Bank Financial Sector Assessment Program (FSAP). The ongoing global financial crisis has...

This paper discusses a detailed assessment report on the observance of China’s compliance with the International Organization of Securities Commission's objectives and principles of securities regulation. The reform of nontradable shares introduced a market-based pricing system for...

The Japanese Government Bond (JGB) market has been stable in Japan since the earthquake, but the factors holding down JGB yields could diminish over time. To limit these risks, fiscal policy should aim to reduce public debt quickly and lengthen maturity of JGBs. The Bank of Japan’s (BoJ)...

This Selected Issues paper on the Republic of Lithuania discusses structure of the financial sector, banking system vulnerabilities, and challenges. Rapid credit growth has been channeled into consumer and real estate lending, and is increasingly financed by foreign borrowing. The financial...

As part of the 2011 Financial Sector Assessment Program (FSAP) update for Germany, this Technical Note reviews recent developments of mortgage-covered bond (Pfandbrief) and mortgage securitization markets in Germany, and explores future prospects for each against the background of ongoing...

In this study, against the background of deteriorating external conditions owing to the global crisis, a 28-month Stand-By Arrangement (SBA) for the Dominican Republic is reviewed. The objective is to limit the procyclicality of policies in the short term. The macroeconomic situation has...

Saudi Arabia’s Report on Standards and Codes has been examined. The Capital Market Authority (CMA) has made significant progress in establishing its supervision credentials, including issuing implementing regulations. The CMA approach to supervision is both risk-based and...