West African Economic and Monetary Union: Financial Sector Assessment Program-Detailed Assessment Report on the Basel Core Principles for Effective Banking Supervision PDF Download
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Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
The BCEAO has conducted a comprehensive reform during the past five years. The regulatory and prudential framework were aligned with international standards and the conditions for supervision have been strengthened, although the efforts must be continued (liquidity ratio/net stable funding ratio and tools for monitoring liquidity, transfers of ownership, acquisitions of holdings, guidelines on nonperforming claims, and anti-money laundering and combating the financing of terrorism—AML-CFT). The transition to Basel III has made it possible to incorporate additional capital requirements, while the rules applicable to credit institutions were upgraded with the 2017 publication of four circulars on governance, risk management, internal supervision, and compliance.
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
The BCEAO has conducted a comprehensive reform during the past five years. The regulatory and prudential framework were aligned with international standards and the conditions for supervision have been strengthened, although the efforts must be continued (liquidity ratio/net stable funding ratio and tools for monitoring liquidity, transfers of ownership, acquisitions of holdings, guidelines on nonperforming claims, and anti-money laundering and combating the financing of terrorism—AML-CFT). The transition to Basel III has made it possible to incorporate additional capital requirements, while the rules applicable to credit institutions were upgraded with the 2017 publication of four circulars on governance, risk management, internal supervision, and compliance.
Author: Dr. Jean-Denis Gabikini
Publisher: Austin Macauley Publishers
ISBN:
Category : Business & Economics
Languages : en
Pages : 155
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Book Description
Historically and contextually, various integration models were experimented with by colonial powers, but these systems largely collapsed post-independence. For instance, the French attempted to maintain cohesion but prioritized their own interests, leading to fragmentation. Efforts in East and West Africa similarly faltered, as each nation pursued its own agenda without a unified political will. South Africa made a notable attempt, but integration never materialized; it would have required a different approach, such as the adoption of a SADC currency. The recent endeavors of AES countries and Zimbabwe’s new currency inject fresh dynamics into this ecosystem. Concurrently, the rise of new technologies presents both challenges and opportunities for financial integration. Public organizations and pan-African institutions play crucial roles in navigating this journey, where the political dimension holds significant sway. Additionally, international dynamics, exemplified by initiatives like those of the BRICs, further influence the landscape. Taken together, these elements paint an intriguing picture, fostering discussions on the African ecosystem and brainstorming plausible solutions. The ultimate aim is to achieve, within a reasonable timeframe, a monetary union and a common African currency.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1475502966
Category : Business & Economics
Languages : en
Pages : 106
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Book Description
A detailed assessment report on the observance of China’s compliance of Basel Core Principles for effective banking supervision is presented. Regulation and supervision of China’s banking system has made impressive progress in the past few years, led by an activist, forward-looking regulator, the China Banking Regulatory Commission, with a clear safety and soundness mandate that has been supported by banks and by the State. The macroeconomic environment is characterized by rapid growth, with concerns about overheating and asset price overvaluation.
Author:
Publisher:
ISBN: 9781475547979
Category : Africa
Languages : en
Pages : 102
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Book Description
Pan-African banks are expanding rapidly across the continent, creating cross-border networks, and having a systemic presence in the banking sectors of many Sub-Saharan African countries. These banking groups are fostering financial development and economic integration, stimulating competition and efficiency, introducing product innovation and modern management and information systems, and bringing higher skills and expertise to host countries. At the same time, the rise of pan-African banks presents new challenges for regulators and supervisors. As networks expand, new channels for transmission of macro-financial risks and spillovers across home and host countries may emerge. To ensure that the gains from cross border banking are sustained and avoid raising financial stability risks, enhanced cross-border cooperation on regulatory and supervisory oversight is needed, in particular to support effective supervision on a consolidated basis. This paper takes stock of the development of pan-African banking groups; identifies regulatory, supervisory and resolution gaps; and suggests how the IMF can help the authorities address the related challenges.
Author:
Publisher: Lulu.com
ISBN: 9291316695
Category : Bank capital
Languages : en
Pages : 294
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Book Description
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484304446
Category : Business & Economics
Languages : en
Pages : 132
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Book Description
This Financial Sector Stability Assessment on Nigeria discusses the macroeconomic performance and structure of the financial system. Although Nigerian economy experienced both domestic and external shocks in recent years, the economy continued to grow rapidly, achieving more than 7 percent growth each year since 2009. The performance of financial institutions has begun to improve, though some of the emergency anti-crisis measures continue to be in place. However, the regulatory and supervisory framework has gaps and weaknesses. In sum, the Nigerian economy has emerged from the banking crisis, and has the potential to enjoy an extended period of strong economic growth.
Author: Mrs.Michaela Erbenova
Publisher: International Monetary Fund
ISBN: 1498336531
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
This paper focuses on the withdrawal of correspondent banking relationships (CBRs) in some jurisdictions post-global financial crisis. It describes existing evidence and consequences of the withdrawal of CBRs and explores drivers of this phenomenon drawing on recent surveys and select country information. While the withdrawal of CBRs has reached a critical level in some affected countries, which can have a systemic impact if unaddressed, macroeconomic consequences have not been identified so far at a global level. The paper presents responses from the international community to address this phenomenon, and explains the role that the IMF has been playing in this global effort, especially with regards to supporting member countries in the context of surveillance and technical assistance, facilitating dialogue among stakeholders, and encouraging data gathering efforts. The paper concludes by suggesting policy responses by public and private sector stakeholders needed to further mitigate potential negative impacts that could undermine financial stability, inclusion, growth and development goals.
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN: 1484309774
Category : Business & Economics
Languages : en
Pages : 196
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Book Description
This paper discusses key findings of the Detailed Assessment of Compliance on the Basel Core Principles for Effective Banking Supervision in South Africa. The South African banking system is highly concentrated with more than 90 percent of banking assets being controlled by the five largest banks. A suitable legal framework for banking supervision is in place to provide each responsible authority with the necessary legal powers to authorize banks, conduct ongoing supervision, address compliance with laws, and undertake timely corrective actions to address safety and soundness concerns. The responsibilities and objectives of each of the authorities involved in banking supervision are clearly defined in legislation and publicly disclosed.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 49
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Book Description
The Financial Sector Assessment Program (FSAP) was conducted amid an economic rebound two years into the COVID-19 pandemic that had a limited impact on the financial sector. Several member states have experienced political instability, with coups in Burkina Faso and Mali leading to economic sanctions for the latter, and an attempted coup in Guinea-Bissau. Yet, short of further political deterioration, economic recovery is expected to persist. The last FSAP was conducted in 2008.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 43
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Book Description
The institutional and legal frameworks for financial stability in the West African Economic and Monetary Union (WAEMU) have seen significant progress since the previous Financial Sector Assessment Program (FSAP) in 2008. 1 The institutional reform of the WAEMU and the Central Bank of West African States (BCEAO) in 2010 clarified the respective mandates and responsibilities of the latter and the WAEMU Banking Commission (CBU), and it strengthened the CBU’s legal autonomy and enforcement powers. A new banking law adopted in 2010 established an overall framework for the operation and supervision of banking activities, which has been rendered more proactive and risk based with the gradual implementation of the Basel II/III mechanism initiated in 2016. A bank resolution regime was introduced in 2015 and the mandate of the deposit guarantee fund, created in 2014, was expanded to bank resolution funding in 2018. A macroprudential policy framework, including for monitoring systemic financial sector risks, was developed around the BCEAO and the Financial Stability Committee (CSF-UMOA) in 2010. This series of reforms has greatly enhanced the robustness of the financial safety net via its four components: the early intervention mechanism, the bank resolution regime, the deposit insurance system, and the emergency liquidity assistance (ELA) mechanism.
