This report explores the opportunities and challenges for developing economies arising from digital trade and discusses the role of international cooperation in tackling these opportunities and challenges. The report considers policy actions in the areas of digital infrastructure, skills,...

This Detailed Assessment of the Observance of International Association of Insurance Supervisors (IAIS) Insurance Core Principles for Portugal highlights the market analysis of the insurance market. Investment in domestic government bonds has decreased and is outweighed by nondomestic government...

This paper evaluates key findings of the Financial System Stability Assessment for Hong Kong Special Administrative Region (SAR), including Reports on the Observance of Standards and Codes on Banking Supervision, Securities Regulation, Insurance Supervision, Payment Systems, Securities...

The German financial system is complex and highly diversified. The second most important class of financial institutions is insurance and pension companies. Germany has taken steps to enhance accounting and auditing practices and to align corporate governance with best international practices....

The Detailed Assessments of the Observance of Standards and Codes on France reviews compliance with Basel Core Principles for effective banking supervision. The French insurance market is notable for its broad range of distribution channels, which include tied agents, insurance brokers, salaried...

This paper discusses key findings of the Financial System Stability Assessment on Cyprus. The assessment reveals that the banking system of Cyprus has managed to avoid the worst effects of the global financial crisis, but stress tests confirmed that credit risk remains high. The assessment...

This paper discusses key findings of the Detailed Assessment of Observance of the Committee on Payment and Settlement Systems–International Organization of Securities Commissions Principles for Financial Market Infrastructures(FMIs) in Singapore. Singapore has a well-developed payment,...

This paper presents an update to the Financial System Stability Assessment on Sri Lanka. The paper discusses that despite a challenging macroeconomic environment characterized by a high fiscal deficit, inflationary pressures, and a widening current account, near-term risks to the financial...

Macroeconomic performance has been relatively strong, and the large fiscal adjustment and the VAT reform represent significant progress in strengthening the fiscal position. Progress with reforms sets the stage for resolving longstanding economic problems. Tax collections have grown strongly....

This paper presents the Financial Sector Stability Assessment Update on the Russian Federation. Indicators of bank soundness and performance are broadly favorable but credit risk poses a challenge over the medium term, and capitalization should rise to support continued banking sector...