This paper examines the implications of the Fund accepting membership in the Financial Stability Board ('FSB'). The FSB Charter (the ?Charter?) explicitly contemplates the possibility of the Fund and the other international financial institutions becoming members but notes that ?the acceptance...

In light of the recent establishment of the Financial Stability Board (FSB) as an association under Swiss law, this paper proposes Fund membership in the new association. The FSB was formed in 2009 and the Fund's Executive Board approved the Fund's membership in 2010, which has provided the Fund...

This paper examines the generation of financial crises in developing economies and shows that the microeconomic structure of the financial sector is a crucial factor in creating the conditions for a crisis. Structural problems of the financial system in developing countries, including implicit...

The Basel Core Principles for Effective Banking Supervision (BCP) assessment confirms the high standard of prudential regulation and supervision described in the 2003 assessment, and found that the issues identified have largely been addressed. The Guernsey Financial Services Commission (GFSC),...

The Banks and trust Companies Act, Financial Services Commission Act, and the Regulatory Act are considered for banking supervision. The assessment is also based on a self-assessment prepared by the Financial Services Commission (FSC). British Virgin Islands (BVI) law provides three classes of...

Based on the request of the Central Bank of San Marino (CBSM), an assessment of San Marino’s compliance with the Basel Core Principles was undertaken in November 2009 in the context of the Financial Sector Assessment Program (FSAP). The mission followed the 2006 Core Principles methodology....

This paper discusses key findings of the Detailed Assessment of Basel Core Principles (BCPs) for Effective Banking Supervision on the Republic of Serbia. The assessment reveals that Serbia has made considerable progress toward enhanced compliance with the BCPs and with international standards. A...

The key findings of the United States’s Basel II Implementation Preparedness are discussed. Certain policy choices that the authorities have made or may make related to allowing banks to choose the capital regime that applies to them may open up arbitrage possibilities that the authorities...

This paper presents Detailed Assessment of the United States’s observance of Basel Core Principles for Effective Banking Supervision. The U.S. financial system is large and highly diversified. At the end-2007, total U.S. financial assets amounted to almost four and a half times the size of...

This Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision for Portugal discusses the country's market structure. Portugal’s regulatory framework is modern and sound, and highly compliant with international standards. Organic Law (OL) of Banco de...