Cyprus: Detailed Assessments of Observance of Standards and Codes for Banking Supervision, Insurance Supervision, and Securities Regulation

International Monetary Fund

No 2006/376, IMF Staff Country Reports from International Monetary Fund

Abstract: The Compliance of the Basel Core Principles welcomes the assessors’ recognition of the overall quality and effectiveness of Cyprus’s banking regulatory and supervisory framework in place, and the resulting high degree of compliance with the Basel Core Principles. Regulation has to be defined to set a frame in which insurance undertakings can operate. Clear objectives and measures should be defined for the Superintendent of Insurance. The International Organization of Securities Commissions Principles was assessed in accordance with the criteria in the Guidance Note.

Keywords: ISCR; CR; national bank; capital adequacy ratio; financial market; central bank; investment firm; senior management; capital base; holding company; personnel department; Insurance; Insurance companies; Internal controls; Stock markets; Capital adequacy requirements; Global (search for similar items in EconPapers)
Pages: 128
Date: 2006-10-23
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