This technical note presents a factual update of the 2001 assessment of Switzerland’s compliance with the 1997 Basel Core Principles for Effective Banking Supervision (BCP), including a follow-up on implementation of the 2001 BCP assessment, undertaken in the context of the original...

This report summarizes the reviews of compliance and consistency with key principles and standards applicable to financial sector of the Philippines. It reviews compliance with the Basel Core Principles for Effective Banking Supervision, the Committee on Payment and Settlement Systems Core...

This assessment of Financial Sector Supervision and Regulation for Samoa provides an overview of legal and institutional frameworks. Compliance with the Basel Core Principles (BCPs) for the supervision of international and domestic banks has improved considerably. Supervision of domestic banks...

This paper discusses key findings of the assessment of Financial Sector Supervision and Regulation (FSSR) for Monaco. Since the 2002 Offshore Financial Center assessment, the Principality of Monaco has taken important steps to further strengthen an already comprehensive legal framework,...

Singapore’s financial sector, which is dominated by the banking sector, remains robust despite a series of economic downturns and substantial asset price declines. Economic developments in the past few years have highlighted Singapore’s vulnerability to exogenous shocks, including...

This paper presents key finding of the Financial System Stability Assessment for the Republic of Korea, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, Corporate...

This report discusses the IMF/World Bank Financial Sector Assessment Program (FSAP) exercise for China undertaken during June–December 2010. The assessment concluded that reforms in China have progressed well in moving toward a more commercially oriented financial system. Despite success...

This paper highlights key finding of the assessment of financial sector regulation and supervision in Belize. The assessment reveals that banking supervision in Belize complies with or is largely compliant with most of the Basel Core Principles. Under current arrangements, the Minister retains a...

In South Africa, long-term insurers experienced some strains during the financial crisis, but there were no crisis-related failures. The capital markets suffered sharp declines but no systemic failures. The three standards assessments have found the regulatory system fundamentally sound. The...

The insurance sector is underdeveloped and has been inadequately supervised to date, as the regulator lacks the requisite independence, skills, and resources. The three public pension systems, which cover less than 10 percent of the active population, appear to be fiscally unsustainable. The...