People S Republic Of China Hong Kong Special Administrative Region Financial Sector Assessment Program Iosco Objectives And Principles Of Securities Regulation Detailed Assessment Of Observance
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International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 223 pages File Size : 41,6 Mb Release : 2014-07-17 Category : Business & Economics ISBN : 9781498305983
People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-IOSCO Objectives and Principles of Securities Regulation-Detailed Assessment of Observance by International Monetary Fund. Monetary and Capital Markets Department Pdf
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 223 pages File Size : 52,9 Mb Release : 2014-07-16 Category : Business & Economics ISBN : 9781498391436
People’s Republic of China–Hong Kong Special Administrative Region by International Monetary Fund. Monetary and Capital Markets Department Pdf
This Financial Sector Assessment Program report on People’s Republic of China–Hong Kong Special Administrative Region highlights that it has developed a sound framework for the regulation of securities markets, which exhibits a high level of implementation of the International Organization of Securities Commissions Principles. Both the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) are sophisticated regulators and have been able to leverage from domestic and international expertise to develop sound supervisory practices. Further, while traumatic, the Lehman minibond experience has led to material improvements in conduct supervision that have permeated both the SFC and the HKMA. Continuing efforts by the SFC to build up its capacity to identify and monitor emerging risks should increase the SFC’s ability to react in a timely manner to an evolving landscape, marked by an increased interconnection with the Mainland China, an active presence by international players and increased regional competition as an international finance center. It is important to consider translating the operational independence that the regulators have enjoyed into de-jure independence, through modifications in the current legal governance arrangements for both SFC and HKMA.
International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 64 pages File Size : 44,6 Mb Release : 2014-02-12 Category : Business & Economics ISBN : 9781484300404
Barbados by International Monetary Fund. Monetary and Capital Markets Department Pdf
This paper discusses key findings of the Financial System Stability Assessment Report on Barbados. Barbados has a relatively well-developed financial system, including a large offshore sector. The onshore system is dominated by large, regionally active banks. Banking services to the population are also provided by the credit union sector. With a deteriorating fiscal situation and weak growth prospects, Barbados faces considerable macroeconomic vulnerabilities. Although the financial system does not appear to be a source of immediate risk, its position appears to be deteriorating, with implications for systemic stability.
People’s Republic of China by International Monetary Fund. Legal Dept. Pdf
This report provides a summary of the anti-money laundering/combating the financing of terrorism (AML/CFT) measures in place in the People’s Republic of China (China)1 as at the date of the onsite visit (July 9–27, 2018). It analyzes the level of compliance with the Financial Action Task Force (FATF) 40 Recommendations and the level of effectiveness of China’s AML/CFT system and provides recommendations on how the system could be strengthened. China has undertaken a number of initiatives since 2002 that have contributed positively to its understanding of ML/TF risk, although some important gaps remain. Its framework for domestic AML/CFT cooperation and coordination is well established.
Author : Paul Allan Schott Publisher : World Bank Publications Page : 292 pages File Size : 45,7 Mb Release : 2006-01-01 Category : Business & Economics ISBN : 9780821365144
Reference Guide to Anti-money Laundering and Combating the Financing of Terrorism by Paul Allan Schott Pdf
This second edition of the Reference Guide is a comprehensive source of practical information on how countries can fight money laundering and terrorist financing. Aimed at helping countries understand the new international standards, it discusses the problems caused by these crimes, the specific actions countries need to take to address them, and the role international organizations play in the process. The Reference Guide is a valuable tool for establishing effective regimes to successfully prevent, detect, and prosecute money laundering and terrorist financing.
International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 141 pages File Size : 41,8 Mb Release : 2024-05-13 Category : Business & Economics ISBN : 9798400275166
Japan by International Monetary Fund. Monetary and Capital Markets Department Pdf
This assessment of insurance supervision and regulation in Japan was carried out as part of the 2024 Financial Sector Assessment Program (FSAP). This assessment has been made against the Insurance Core Principles (ICPs) issued by the International Association of Insurance Supervisors (IAIS) in November 2019. The assessment includes the standards of the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame). It is based on the laws, regulations and other supervisory requirements, and practices that were in place at the time of the assessment in September and October 2023.
Author : International Monetary Fund Publisher : International Monetary Fund Page : 69 pages File Size : 43,5 Mb Release : 2012-07-18 Category : Business & Economics ISBN : 9781475504958
This paper discusses implementation of the International Organization of Securities Commissions (IOSCO) objectives and principles of securities regulation in Indonesia. The Capital Markets and Financial Institutions Supervisory Agency (BAPEPAM-LK) has taken impressive steps to increase the transparency of regulation and to institute a comprehensive operational program that meets international norms and Indonesia’s understanding of best practices. This paper reveals that the regulatory framework, regulatory powers, and requirements pertaining to the securities regulator are highly transparent. The roles of the regulators and supervisors are also clearly defined.
Domestic Regulation and Service Trade Liberalization by Pierre Sauve,Aaditya Mattoo Pdf
Trade in services, far more than trade in goods, is affected by a variety of domestic regulations, ranging from qualification and licensing requirements in professional services to pro-competitive regulation in telecommunications services. Experience shows that the quality of regulation strongly influences the consequences of trade liberalization. WTO members have agreed that a central task in the ongoing services negotiations will be to develop a set of rules to ensure that domestic regulations support rather than impede trade liberalization. Since these rules are bound to have a profound impact on the evolution of policy, particularly in developing countries, it is important that they be conducive to economically rational policy-making. This book addresses two central questions: What impact can international trade rules on services have on the exercise of domestic regulatory sovereignty? And how can services negotiations be harnessed to promote and consolidate domestic policy reform across highly diverse sectors? The book, with contributions from several of the world's leading experts in the field, explores a range of rule-making challenges arising at this policy interface, in areas such as transparency, standards and the adoption of a necessity test for services trade. Contributions also provide an in-depth look at these issues in the key areas of accountancy, energy, finance, health, telecommunications and transportation services.
International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 33 pages File Size : 44,6 Mb Release : 2016-02-29 Category : Business & Economics ISBN : 9781513504322
Republic of Moldova by International Monetary Fund. Monetary and Capital Markets Department Pdf
Moldova has a modern interbank payment system that lies at the heart of its financial markets. The Automated Interbank Payment System (AIPS) settled on average MDL 2 billion (US$ 214 million) per day, or 2.7 percent of GDP in 2013. It has real-time gross settlement features that help reduce systemic risks, settles large-value and time-critical payments, and is interdependent with two securities settlement systems. This includes the central bank’s Book-Entry System (BES) that handles government securities and central bank certificate settlements, and the National Securities Depository (NSD) that settles private sector securities trades. It largely met international standards in the FSAP Update of 2008. A self-assessment of the BES against the CPSS-IOSCO Principles for Financial Market Infrastructures (PFMIs) has been completed in December 2013 by the NBM. The preliminary results suggest full observance with 11 principles and broad observance with three principles (Principle 1 on Legal Basis, Principle 22 on Communication Procedures and Standards). They are currently under the peer review process by the National Commission for Financial Markets (NCFM).
Fintech by International Monetary Fund,World Bank Pdf
The paper finds that while there are important regional and national differences, countries are broadly embracing the opportunities of fintech to boost economic growth and inclusion, while balancing risks to stability and integrity.
The Fear of Freedom by Marc Quintyn,Silvia Ramirez,Michael Taylor Pdf
Compared with the case of central bank independence, independence for financial sector supervisors remains more controversial. This paper analyzes changes in independence and accountability arrangements in a set of 32 countries that overhauled their legal and/or institutional frameworks for supervision in recent years. Despite improvements, there is strong evidence that the endorsement of independence remains half-hearted, which shows itself through either overcompensation on the accountability side, or resort to political control mechanisms. The latter could potentially undermine the agency's credibility. The results indicate that policymakers still need to be persuaded of the long-term benefits of independence for financial sector soundness, and of the potential for a virtuous interaction between independence and accountability, if the arrangements are well-designed.
International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary Fund. Monetary and Capital Markets Department Publisher : INTERNATIONAL MONETARY FUND Page : 0 pages File Size : 44,7 Mb Release : 2015-04-15 Category : Business & Economics ISBN : 1498372937
Global Financial Stability Report, April 2015 by International Monetary Fund. Monetary and Capital Markets Department Pdf
The current report finds that, despite an improvement in economic prospects in some key advanced economies, new challenges to global financial stability have arisen. The global financial system is being buffeted by a series of changes, including lower oil prices and, in some cases, diverging growth patterns and monetary policies. Expectations for rising U.S. policy rates sparked a significant appreciation of the U.S. dollar, while long term bond yields in many advanced economies have decreased—and have turned negative for almost a third of euro area sovereign bonds—on disinflation concerns and the prospect of continued monetary accommodation. Emerging markets are caught in these global cross currents, with some oil exporters and other facing new stability challenges, while others have gained more policy space as a result of lower fuel prices and reduced inflationary pressures. The report also examines changes in international banking since the global financial crisis and finds that these changes are likely to promote more stable bank lending in host countries. Finally, the report finds that the asset management industry needs to strengthen its oversight framework to address financial stability risks from incentive problems between end-investors and portfolio managers and the risk of runs due to liquidity mismatches.
Author : International Monetary Fund Publisher : International Monetary Fund Page : 111 pages File Size : 49,7 Mb Release : 2010-09-16 Category : Business & Economics ISBN : 9781455209675
Indonesia recovered quickly after being hit hard by contagion from the global financial crisis. Banking fundamentals have improved, with most Indonesian banks reporting high capital, comfortable levels of liquidity, and solid profitability. Banks exhibit rising credit exposures to retail and SMEs. The Crisis Management Protocol functioned well during the crisis, but it has lapsed. A viable capital market will diversify the sources of funding and provide long-term investment opportunities. The small insurance industry should be restructured and gradually expanded to broaden the institutional investor base.
Issues in the Governance of Central Banks by Anonim Pdf
This report by the Central Bank Governance Group presents information intended to help decision-makers set up governance arrangements that are most suitable for their own circumstances. The report draws on a large body of information on the design and operation of central banks that the BIS has brought together since it initiated work on central bank governance in the early 1990s. The need to deal with chronic inflation in the 1970s and 1980s prompted the identification of price stability as a formal central bank objective and led to a significant reworking of governance arrangements. The current global financial crisis could have equally important implications for central banks, particularly with respect to their role in fostering financial stability. Although it is too early to know how central banking will change as a result, the report takes an important first step in identifying governance questions that the crisis poses.
