This paper examines three questions concerning the international coordination of macroeconomic policy. First it examines whether it is advantageous for governments to cooperate in the determination of monetary and fiscal policies. Second it asks whether it is helpful for governments to establish...

This assessment of the Basel Core Principles for Effective Banking Supervision has been completed as part of the IMF Offshore Financial Center (OFC) assessment program. First, the assessment benchmarks the current state of banking supervision, recognizing that there have been extensive changes...

The financial services sector plays a dominant role in the economy of Guernsey. The report is organized in two volumes. Volume I provides the findings and the Reports on the Observance of Standards and Codes (ROSCs). Volume II provides the detailed assessments of the Basel Core Principles for...

This Financial System Stability Assessment on Kuwait reviews the macroeconomic environment and gives an overview of the financial system. Financial stability has been effectively supported by prudent fiscal and monetary policies. The banking sector appears sound and is well regulated and...

This review of the financial sector regulation and supervision in Monaco in the context of the offshore Financial center assessment program contains technical advice and recommendations given by the IMF in response to the authorities of Monaco’s request for technical assistance. It...

This report assesses Observance of Standards and Codes on Financial Action Task Force (FATF) Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Israel. Israel has made significant progress in strengthening its regime for AML/CFT since 2000. Overall,...

This review of financial sector regulation and supervision in Jersey in the context of the offshore financial center assessment program contains technical advice and recommendations. The report provides a general overview of the financial system, a summary of the assessment findings and the...

This Detailed Assessment Report focuses on Anti–Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Italy. The assessment reveals that overall, the current AML/CFT framework in Italy is extensive and mature, and achieves a high degree of compliance with most of the...

The Detailed Assessments of the Observance of Standards and Codes on France reviews compliance with Basel Core Principles for effective banking supervision. The French insurance market is notable for its broad range of distribution channels, which include tied agents, insurance brokers, salaried...