The report provides a summary of the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures in place in Australia. It describes and analyzes those measures, and provides recommendations on how certain aspects of the system could be strengthened. Under the Financial...

The country lacks an integrated statistical framework that would take account of the various analytical and accounting linkages across macroeconomic statistics, and the relationships between regulatory tools, intermediate objectives, and policy goals. There is significant room to improve the...

The quality of the macroeconomic statistics is generally high, broadly conforming to international standards for compilation and dissemination, although coverage of illicit activities is poor. Executive Directors suggest reviewing the legal framework for statistical activity, including...

The Compliance of the Basel Core Principles welcomes the assessors’ recognition of the overall quality and effectiveness of Cyprus’s banking regulatory and supervisory framework in place, and the resulting high degree of compliance with the Basel Core Principles. Regulation has to...

Portugal’s financial system is sound, well-managed and competitive, with shorter-term risks and vulnerabilities well contained, and with the system buttressed by a strong financial policy framework. Portuguese banks’ profitability, asset quality, and solvency have held up well in...

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...