Even though the Russian authorities have maintained financial stability at the time of a major global shock, the financial system is still weak. The crisis has set back progress toward a strong, competitive banking system for the future. The recent unification of the supervision of nonbank...

This Selected Issues paper on Uganda discusses the progress toward harmonization of capital account regulations and capital market integration. A unified East African Community financial market would offer several benefits to the regional economy. It would expand the opportunities for savings...

The Finnish financial sector has weathered during the global crisis. Banks’ capital buffers were sufficient, but liquidity and credit risks required monitoring. The study assessed that there is a need for strong crisis management framework. It is found that an evaluation of Deposit...

The study shows that the Israeli economy has emerged unscathed from the global financial crisis. The first part of the study outlines the relationship between risk and Israel’s macroeconomic performance, estimated through a regression analysis. The second part of the study focuses on...

This paper presents a detailed assessment report on the observance of China’s compliance with the International Association of Insurance Supervisor's insurance core principles. The China Insurance Regulatory Commission employs a rules-based framework and has achieved a high level of...

Austria’s recession had limited effects on unemployment. Investment declined sharply but consumption helped cushion the recession, supported by tax cuts and various labor market measures together with large increases in real wages. Austria’s fiscal position has weakened...

This Detailed Assessment of Compliance—Basel Core Principles for Effective Banking Supervision on the Republic of Belarus reviews principle-by-principle assessment and authorities’ response to the assessment. The legal framework for the regulation and supervision of the financial...

This report discusses the IMF/World Bank Financial Sector Assessment Program (FSAP) exercise for China undertaken during June–December 2010. The assessment concluded that reforms in China have progressed well in moving toward a more commercially oriented financial system. Despite success...

This paper discusses key findings of the Third Review Under the Stand-By Arrangement for Hungary. The end-June 2009 quantitative performance criteria, as well as the structural benchmark related to government lending to banks, were all met. The end-June indicative target on central government...