This paper evaluates key findings of the Financial System Stability Assessment for Hong Kong Special Administrative Region (SAR), including Reports on the Observance of Standards and Codes on Banking Supervision, Securities Regulation, Insurance Supervision, Payment Systems, Securities...

This review of financial sector regulation and supervision in the Kingdom of the Netherlands—Netherlands Antilles explains banking, insurance, and pension fund supervision. The Netherlands Antilles is resolved to remove the perception created by placement of the jurisdiction in the...

The report on Norway’s Observance of Standards and Codes on the Financial Action Task Force Recommendations for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) is examined. It describes and analyzes those measures, and provides recommendations on how certain...

The Kingdom of Bahrain’s Financial System Stability Assessment highlights banking supervision, insurance supervision, securities regulation, and antimoney laundering and combating the financing of terrorism. The banking sector is well capitalized. Asset quality has been improving and...

This paper presents a Detailed Assessment and Updates of Financial Sector Standards and Codes for Kazakhstan. The assessment reveals that although Kazakhstan’s banking system is liquid, there are significant variations from bank to bank, with the distinctions between the tenge and foreign...

Anguilla is in the process of strengthening its legal and supervisory framework, which includes the creation of an operationally independent regulatory body, the Financial Services Commission. Priority should be given to improving the system for suspicious transaction reports, enhancing the...

This report summarizes the assessment of Liechtenstein's compliance with internationally accepted standards for the regulatory and supervisory arrangements of the financial sector. It provides detailed assessments of Liechtenstein’s implementation of international supervisory and...

This report reviews the Financial Sector Assessment Program of the Philippines on International Organization of Securities Commissions (IOSCO) Objectives and Principles of Securities Regulation. The report was prepared by a staff team of the International Monetary Fund and the World Bank as part...

The program of budget restraint and reduction of the quasi-fiscal losses, supported by the IMF's Stand-By Arrangement, was successful in bringing domestic demand down to sustainable levels, lowering inflation, and narrowing the current account deficit. The stabilization effort was supported by...

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...