The Implementation of the Basel Core Principles in Selected Countries from the Perspective of the International Monetary Fund

Ingrid Ettl () and Alexandra Schober-Rhomberg ()
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Ingrid Ettl: Oesterreichische Nationalbank, http://www.oenb.at
Alexandra Schober-Rhomberg: Oesterreichische Nationalbank, http://www.oenb.at

Focus on European Economic Integration, 2005, issue 2, 157-173

Abstract: This study examines the implementation of the Basel Core Principles (BCPs) based on the Financial System Stability Assessments (FSSAs) carried out by the International Monetary Fund (IMF) in Bulgaria, the Czech Republic, Germany, Croatia, Hungary, Austria, Poland, Romania, Russia, Slovenia, Slovakia and Ukraine. From the perspective of Austria's financial sector, these countries are of particular interest owing to Austrian banks' investment focus on Central and Eastern European countries (CEECs). The 25 Core Principles, which were developed by the Basel Committee on Banking Supervision in 1997, in collaboration with international bank supervisors, the IMF and the World Bank, represent minimum requirements for good banking governance and an efficient supervisory system. The seven supervisory areas examined, to which the BCPs relate, are: preconditions for effective banking supervision, licensing and structure of banks, prudential regulations and requirements, methods of ongoing banking supervision, information requirements, formal powers of supervisors and cross-border banking. By comparing BCP implementation in the relevant countries, the strengths and weaknesses of financial regulation and banking supervision can be identified and a need for action to strengthen the supervisory regime can be inferred.

Date: 2005
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