The report provides the details of the Malta Financial Stability Assessment (MFSA). It defines its roles, responsibilities, and objectives for financial policies. It reviews the reports on the observance of standards and codes on monetary and financial policy transparency, banking supervision,...

The Irish financial sector has continued to perform well since its participation in the Financial Sector Assessment Program (FSAP) in 2000. Although the outlook remains very strong for 2006–07, there are some macroeconomic risks that could have implications for the financial system asset...

The Basel Core Principles for Effective Banking Supervision (BCP) assessment confirms the high standard of prudential regulation and supervision described in the 2003 assessment, and found that the issues identified have largely been addressed. The Guernsey Financial Services Commission (GFSC),...

This Article IV Consultation reports that Malta’s economy continues to perform well amidst considerable turbulence in the euro area. While spillovers have remained contained to date, Malta’s large financial sector and highly open economy heighten contagion and financial stability...

A detailed assessment of Israel’s compliance with the Basel Core Principles for effective banking supervision is presented. The Bachar reform that has been started in mid-2005 forced banks to divest most noncommercial banking activities, such as mutual funds, insurance, pension, and...

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.

The 2008 transition to the new banking supervisory framework in Poland has been relatively smooth, and the banking system has proven effective in weathering the financial crisis. This assessment focuses on the working of the Polish Financial Supervision Commission (KNF), which is responsible for...

This Technical Note presents a targeted review and a follow-up on the implementation of the recommendations of the 2002 assessment of Lithuania’s compliance with the Basel Core Principles for Effective Banking Supervision. It was found that banking supervision arrangements in Lithuania...

Guernsey is a leading international insurance center in Europe. Its economy purely depends on the performance of the financial sector. As per the 2003 assessment under the Offshore Financial Center (OFC) program, it is found that the Guernsey Financial Services Commission (GFSC)’s powers...

Australia has a history of few bank failures, even fewer financial crises, and its banking sector emerged from the global financial crisis relatively well.1 With an eye toward international developments, the Australian authorities have taken commendable steps to strengthen the financial safety...