This financial stability assessment provides an update on the significant regulatory and supervisory developments in the banking and insurance sectors of Belgium since 2006. The Belgian financial system is relatively large with solid capital buffers on aggregate, and the 2008 global financial...

This Technical Note focuses on banking system spillovers of Malaysia. The note examines the presence of foreign banks and the potential for problems in other jurisdictions to spillover to Malaysia and the overseas operations of Malaysian banks, which make their performance and solvency more...

This Financial System Stability Assessment report on the Republic of Korea highlights that the Korean economy is experiencing a modest recovery, helped by supportive monetary and fiscal policies and buoyant exports. GDP growth is expected to rebound to 2.8 percent in 2013, and strengthen further...

This paper summarizes the stress tests (ST) undertaken for the Malaysian banking system as part of the Financial Sector Assessment Program (FSAP). All banks were subject to solvency, liquidity and contagion tests in the macroeconomic stress testing set-up. The solvency tests assessed the...

EXECUTIVE SUMMARY The global crisis has had virtually no impact on Algeria’s financial system, which remains stable overall but thoroughly underdeveloped. Pervasive exchange controls, widespread public ownership, and an abundance of domestic funding have protected banks from external shocks....

This Technical Note on Stress Testing the Banking System on Switzerland summarizes the stress tests undertaken for the Swiss banking system as part of the 2013 Financial Sector Assessment Program (FSAP) Update. The objective of this exercise has been to assess the resilience of the banking...

EXECUTIVE SUMMARY Korea has a well-developed payment, clearing, and settlement infrastructures. BOK-WIRE+ is the real-time interbank gross payment and settlement system, and the backbone of the infrastructure where the final payments of various markets are settled. It is operated by the Bank of...

EXECUTIVE SUMMARY The Danish authorities have taken important steps in recent years to improve financial system resilience. Financial regulation and supervision have been strengthened. A new bank resolution framework that includes bail-in of creditors has been adopted and deployed to resolve...

EXECUTIVE SUMMARY Despite the global and domestic shocks of 2008–2009, the banking sector remains sound. Salvadoran banks were not directly exposed to the global financial crisis. However, the parent banks of several major Salvadoran banks were hit hard and directed subsidiaries to conserve...

EXECUTIVE SUMMARY Barbados has a relatively well-developed financial system, including a large offshore sector.1 The onshore system is dominated by large, regionally active banks. Banking services to the population are also provided by the credit union sector. The system also includes a mature...