Italy: Report on the Observance of Standards and Codes

International Monetary Fund

No 2013/301, IMF Staff Country Reports from International Monetary Fund

Abstract: This Report on Observance of Standards and Codes (ROSC) for Italy summarizes the findings and recommendations of the fiscal assessment of Italy’s economic policies. It highlights that while raising the bar for banking supervision, the Core Principles must be capable of application to a wide range of jurisdictions. The new methodology reinforces the concept of proportionality, both in terms of the expectations on supervisors and in terms of the standards that supervisors impose on banks. It recommends that a group-focused supervisory approach for the nationally significant insurers and sophisticated offsite monitoring together with ad hoc inspections for smaller entities is required.

Keywords: ISCR; CR; risk management; country risk; holding company; board of directors; corporate governance; Insurance companies; Solvency; Legal support in revenue administration; Insurance; Operational risk; Global (search for similar items in EconPapers)
Pages: 55
Date: 2013-09-27
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