This technical note on Transparency of Monetary Policy on the Republic of Belarus highlights the open process for formulating and reporting of monetary policy discussions. The National Bank of the Republic of Belarus (NBRB) displays a satisfactory degree of transparency in formulation and...

This technical note examines Cyprus’s factual update on the Basel Core Principles for Effective Banking Supervision for Cyprus. The 2006 directive on corporate governance provides that each commercial credit institution should have a robust internal governance framework. Although the level of...

Guernsey is a leading international insurance center in Europe. Its economy purely depends on the performance of the financial sector. As per the 2003 assessment under the Offshore Financial Center (OFC) program, it is found that the Guernsey Financial Services Commission (GFSC)’s powers have...

The key findings of Mauritius’s Financial System Stability Assessment update are discussed. The Mauritian financial system has been resilient to recent economic shocks, and banks have adequate capital buffers against a range of shocks to their credit portfolios and liquidity positions....

The Nigerian financial system underwent a banking crisis in 2008–09, owing to the global financial crisis and domestic events. The decisive crisis response effectively stabilized the banking system, but the challenge now is to devise a credible exit strategy. The Central Bank of Nigeria (CBN)...

This paper discusses the Financial System Stability Assessment of Mexico. The Mexican banking system is profitable, liquid, well capitalized, and stress tests suggest that it is able to withstand severe shocks. The strength of capital buffers has persuaded the authorities to introduce Basel III...

The labor market remains weak, disinflation has slowed, but falling wages are improving competitiveness. The weak economic environment is putting pressure on the banking sector. Financial conditions have deteriorated recently because of international financial market tensions. The Bank of Latvia...

This paper presents Mongolia’s Financial System Stability Assessment, including reports on the Observance of Standards and Code. The Mongolian financial system is developing and performing well, in line with the economy as a whole, but faces a number of challenges. There are signs that the...

This paper discusses a Detailed Assessment of the Observance of the IMF Code of Good Practices on Transparency in Monetary and Financial Policies—Securities Regulation for Italy. The paper discusses that in the area of securities regulation, the objectives and responsibilities of the two...

This Financial System Stability Assessment on the Central African Economic and Monetary Community (CEMAC) discusses the overall assessment of stability, integration, and development issues of the financial sector. The paper reviews plans to strengthen the prudential and systemic liquidity...