Banks will want to influence the bank regulator to favor their interests, and they typically have the means to do so. It is shown that such ""regulatory capture"" in banking does not imply ineffectual regulation; a ""captured"" regulator may impose very tight, costly prudential requirements to...

This note reviews outgoing U.S. consolidated regulatory and supervisory arrangements and explores options to strengthen them. Although U.S. consolidated regulation and supervision span from the smallest financial groups to the largest and most complex, much effort is focused on the latter. This...

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 recent...

This paper highlights key findings of the assessment of financial sector regulation and supervision in the Cayman Islands. The assessment reveals that in the last two years, an extensive program of legislative, rule, and guideline development in the Cayman Islands has introduced an increasingly...

This paper reviews Financial Sector Regulation and Supervision in The Bahamas. The assessment reveals that the overall regulatory structure in The Bahamas is complex, involves an excessive number of agencies, and places a considerable pressure on limited technical and financial resources....

This paper assesses the financial sector regulation and supervision in Bermuda in the context of the offshore financial center assessment program. The assessment reveals that the financial, regulatory, and supervisory framework is well developed in banking, the key areas of securities...

This paper reviews Financial Sector Regulation and Supervision for Turks and Caicos Islands (TCI). The TCI has a structure for financial supervision that encompasses banking, insurance, mutual funds, investment brokers, trusts, trustees, companies’ registration, and company service providers....

This detailed assessment of the observance of standards and codes in the financial sector of the Kingdom of the Netherlands—Netherlands Antilles reviews implementation of the Basel Core Principles for effective banking. Legal provisions are in place entrusting the Bank of the Netherlands...

Austria’s Financial System Stability Assessment highlights Reports on the Observance of Standards and Codes on banking supervision, securities regulation, and insurance regulation. The banking sector has weathered the recent economic slowdown well, and is generally sound and resilient. Austria...

This paper presents an assessment of the supervision and regulation of Samoa’s financial sector. The size of the offshore business remains very small compared with major offshore centers. The registration of International Business Companies represents the largest offshore business for Samoa....