This paper assesses compliance of the Basel Core Principles for Effective Banking Supervision in Spain. Significant changes have occurred in Spain since the last Financial Sector Assessment Program (FSAP). The most serious has been the deterioration of the economy and the real estate sector. The...

A technical note on the stress test of Israel’s banking, insurance, and pension sectors is presented. The Israel Financial Sector Assessment Program Update stress testing exercise comprises a comprehensive analysis of solvency and liquidity risks of key banking and insurance institutions....

The Kyrgyz Republic’s request for an 18-month Arrangement under the Exogenous Shocks Facility is discussed. International commodity prices continued to rise through much of 2008, resulting in a surge in inflation to more than 30 percent by mid-year and a widening of the current account...

The impact of the financial crisis on Sweden’s economy and financial sector is analyzed in this study. From the financial stability analysis, banks are resilient to credit risk and could face difficulties with respect to liquidity risk. The frameworks of international reserve management...

Eurex has a sound, transparent, and enforceable legal basis to address the legal risks related to its activities. Eurex is regulated and supervised as a bank. Its clearing activities are governed by a consistent and solid set of laws, regulations, rules, and instructions. Eurex has a...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

This paper focuses on targeted detailed assessment of observance of the Basel Core Principles for effective banking supervision. The selection of the principles to be reassessed was made by the mission team based on an analysis of the risks and vulnerabilities of the Russian Federation. It was...

The major reforms undertaken in the Netherlands with the adoption of the Twin Peaks regulatory structure have ensured that the recommendations from the Basel Core Principles assessment have been acted upon. The legal and regulatory framework for banking supervision conforms to internationally...

Does the bank lending channel of monetary transmission work in Turkey? Using the May- June 2006 financial turbulence as an exogenous shock that prompted a significant tightening of monetary policy, this paper examines the loan supply response of Turkey's banks, depending on their balance sheet...

We study versions of a general equilibrium banking model with moral hazard under either constant or increasing returns to scale of the intermediation technology used by banks to screen and/or monitor borrowers. If the intermediation technology exhibits increasing returns to scale, or it is...