The Canadian financial sector is among the world’s most highly developed. The five large banking groups that form the core of the system are conservatively managed and highly profitable. The stress tests suggest that the large Canadian banks can withstand a broad range of shocks. The...

The Financial System Stability Assessment of Denmark has been developed to identify the weakness in the financial sector structure and thereby enhance the resilience to macroeconomic shocks and cross-border contagion. This paper provides the overall stability assessment of the financial system...

The assessment report on the observance of China’s compliance with the Committee for Payment and Settlement System's core principles for systemically important payment systems is examined. Domestic foreign exchange transactions are mostly executed at the China Foreign Exchange Trade...

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 U.S. economy continues to recover at a modest pace, in line with international experience following severe financial crises. The key priority for fiscal policy is to stabilize the debt ratio and gradually reduce it. The fiscal framework should include an endorsement of the main medium-term...

A detailed assessment report on the observance of the Committee on Payment and Settlement Systems-International Organization of Securities Commissions recommendations for China’s Securities Settlement Systems and Central Counterparties is presented. The bond market comprises the interbank...

This paper presents key findings of Norway’s Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Banking Supervision, Insurance Regulation, and Payment Systems. Norway’s financial system appears sound and well managed. Short-term...

The German financial system is complex and highly diversified. The second most important class of financial institutions is insurance and pension companies. Germany has taken steps to enhance accounting and auditing practices and to align corporate governance with best international practices....

Bulgaria’s request for a 25-month precautionary Stand-By Arrangement (SBA) in an amount of SDR 100 million or 15.62 percent of quota is discussed. The SBA-supported program seeks to reduce increased external vulnerability and to achieve sustainable high growth through a tighter fiscal...