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 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...

This paper presents detailed assessment of Israel’s compliance with Basel Committee on Payments and Settlement Systems Core Principles for Systemically Important Payment Systems. A significant improvement in the payments landscape has been noted, with the high value payment system meeting...

The assessment report on the observance of China’s compliance with the Committee for Payment and Settlement System's core principles for systemically important payment systems is examined. Domestic foreign exchange transactions are mostly executed at the China Foreign Exchange Trade...

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 paper discusses key findings of the Detailed Assessment of Observance of the Depository Trust Company’s Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commissions (CPSS–IOSCO) Recommendations for Securities Settlement...

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...

This paper presents key findings of Norway’s Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Banking Supervision, Insurance Regulation, and Payment Systems. Norway’s financial system appears sound and well managed. Short-term...

The Detailed Assessments of the Observance of Standards and Codes on France reviews compliance with Basel Core Principles for effective banking supervision. The French insurance market is notable for its broad range of distribution channels, which include tied agents, insurance brokers, salaried...

The financial system remains vulnerable to weak governance in smaller banks and also to weaknesses in banks’ balance sheets. Banking is characterized by high real interest rates, large spreads, and a limited appetite for lending. Stress tests indicate that the banking system is relatively...