The 2006 Article IV Consultation on San Marino explains financial sector development and stability. A wide-ranging reform of the regulatory framework and supervision is under way to modernize the financial sector and make it conform to international standards. Executive Directors encouraged to...

This paper discusses Mexico’s organizational arrangements for effective financial system regulation, supervision and policymaking. Reforms implemented encompassed the legal framework, operational arrangements, and information systems, as well as transparency and information disclosure...

The study shows that the global financial crisis has adversely affected Kuwait’s financial system, especially in the Investment Company (IC) sector. Stress tests indicate that, in contrast to the ICs, the banking system could broadly withstand significant shocks. The Central Bank of...

The slow-paced growth rate of the U.S. economy, notwithstanding the bolstering attempts is disheartening. Implementing financial reforms and highly accommodative monetary policy are hoped to have a desired effect. Deficit reduction, debt ratio stabilizing strategies, removal of fiscal cliff...

This 2012 Article IV Consultation focuses on the financial sector and macroeconomic situation in Vietnam. The authorities adopted a stabilization package in February 2011 in response to increasing pressures on prices and the exchange rate in late 2010. Executive Directors commended the...

This Selected Issues paper uses contingent claims analysis (CCA) to assess risks to the Colombian banking sector. The CCA approach is based on the estimation of the default probability by an entity on its obligations, and is widely used by rating agencies to assess creditworthiness in the...