The securities and exchange commission (SEC) is the main regulator of the capital market in the Philippines, but its resources are insufficient to adequately address its core functions, especially the supervision of capital market participants, and yet it has to address other legal...

This assessment of the implementation of the BCP in India has been completed as part of the Financial Sector Assessment Program (FSAP), which has been undertaken by the International Monetary Fund (IMF) and the World Bank (WB) in 2017, at the request of the Indian authorities. The scope of the...

The China Banking Regulatory Commission (CBRC) has maintained its momentum in regulation and supervision in the face of exceptional growth in scale and increasing complexity of the banking system. Equally, the CBRC has risen to the demands of the international regulatory reform agenda,...

This technical note reviews the cooperative bank and credit union sectors. It focuses on: (i) thesituation of the two sectors that are both in states of transition; (ii) the regulatory and supervisory arrangements; and (iii) the safety net and resolution regime within the context of the crisis...

A joint World Bank-IMF Financial Sector Assessment Program (FSAP) mission visited Poland from January 8-19, 2018 and May 7-18, 2018. This report summarizes the main findings of the mission, identifies key financial sector vulnerabilities and development opportunities, and provides policy...

The establishment of the Central Bank of the Russian Federation (CBR) as a unified or 'Mega Regulator' in 2013 is an emblem of the far reaching changes to the legal and supervisory landscape in recent years. The level of compliance with the Basel Core Principles (BCP) reflects the transitional...

The experiences of past financial crises have strengthened the Russian bank resolution framework. The resolution framework has been effective in preserving financial stability. The effectiveness of bank resolution could be improved. Introduction of the full range of resolution powers and...

This technical note (TN) provides a stocktaking of the current state of the implementation of the key recommendations made by the IMF and the World Bank in their 2015 assessment report on the observance of Basel Core Principles (BCPs) for effective banking supervision in Bulgaria. It provides an...

The Central Bank of Argentina (BCRA) and the Superintendence of Financial Entities (SEFyC) are to be commended on their thorough supervision, their implementation of risk-based supervision, and their thorough examination process. Since the 2001-2002 crises, financial sector indicators have...

Regulation and supervision of China's banking system has made impressive progress in the past few years, led by an activist, forward-looking regulator China Banking Regulatory Commission (CBRC), with a clear safety and soundness mandate that has been supported by banks and by the State. Less...