This paper discusses key findings of the detailed assessment of observance of financial sector standards and codes in Switzerland. Switzerland has a relatively unique banking sector, with a high market concentration by the two largest domestic banks. The overall assessment of the peer-review...

Even though the Russian authorities have maintained financial stability at the time of a major global shock, the financial system is still weak. The crisis has set back progress toward a strong, competitive banking system for the future. The recent unification of the supervision of nonbank...

This paper discusses key findings of the Financial System Stability Assessment for Italy. The assessment reveals that Italy’s financial system is sound, and no major vulnerabilities that could cause systemic risks are identified. The deep restructuring of the banking sector in the 1990s...

The global financial crisis has tested the effectiveness of supervision under the “Twin Peaks†model. The crisis revealed the strengths of the “Twin International Peaks†model, as decisions were able to be made in a timely manner to contain the crisis, and clear divisions of...

The Netherlands has been heavily affected by the global financial crisis. The “Twin Peaks†supervision model, with Netherlands Central Bank - De Nederlandsche Bank (DNB) as the prudential supervisor, and the Authority for Financial Markets (AFM) responsible for conduct-of-business...