The Financial System Stability Assessment found the financial sector to be vibrant, resilient, highly competitive, and well supervised and regulated. Stress tests showed credit institutions and insurers to be highly resilient to a variety of shocks. It also found a high degree of observance of...

This report describes the assessment of the securities clearance and settlement system in Spain, based on the Committee on Payment and Settlement Systems (CPSS)-International Organization of Securities Commissions’ (IOSCO) Recommendations for Securities Settlement Systems. It is performed...

This paper discusses key findings of the Financial System Stability Assessment on the Basel Core Principles for Effective Banking Supervision, the Committee for Payment and Settlement Systems (CPSS) Core Principles for Systemically Important Payment Systems, and IMF Monetary and Financial Policy...

The staff report for Rwanda’s combined 2008 Article IV Consultation, Fifth Review Under the Three-Year Arrangement under the Poverty Reduction and Growth Facility, and Request for Waiver of Nonobservance of Performance Criterion is examined. Sound macroeconomic and structural policies...

This paper presents detailed assessment of the Czech Republic’s compliance with Basel Core Principles (BCPs) for effective banking supervision. Many earlier weaknesses have been addressed, either through domestic measures or by implementing European Union-wide rules and regulations. An...

This assessment of the current state of Australia’s implementation of the Basel Core Principles for Effective Banking Supervision has been completed as part of a Financial Sector Assessment Program (FSAP) undertaken in December 2005 by the International Monetary Fund. The assessment team...

This assessment focuses on the National Securities Market Commission (CNMV) but takes into account the activities of other institutions insofar as they oversee investment service providers, markets, and clearing and settlement systems, and thus affect implementation of the IOSCO Objectives and...

This Financial System Stability Assessment on France reviews the institutional and regulatory framework. Consolidation among financial institutions has resulted in six large universal, vertically integrated banking groups having a strong position in the domestic market. Bank profitability has...

Romania’s 2004 Article IV Consultation and Request for Stand-By Arrangement (SBA) are discussed. The authorities have requested a new precautionary 24-month SBA to secure macroeconomic stabilization and keep European Union accession on track. Romania has preserved competitiveness, despite...