Czech Republic: Report on the Observance of Standards and Codes—Banking Supervision—Update

International Monetary Fund

No 2004/004, IMF Staff Country Reports from International Monetary Fund

Abstract: The Czech government placed high priority on implementing and observing the international standards relevant for financial stability. The supervisory staff exhibited a high understanding of best international supervisory standards, policies, and practices. Nevertheless, the report noted significant weaknesses in laws governing debtor-creditor relations, inefficiencies in the judicial process, cumbersome administrative requirements, and low supervisory skills, and the need to audit computer-based systems and evaluate risk management systems. Enhancing the legal and regulatory framework is required to build up supervisory capacity, and to increase attention to supervisory coordination and cooperation.

Keywords: ISCR; CR; risk management management system; CNB report; risk management; supervision; sc; targeted on-site inspection; FSAP mission; right of the CNB; Market risk; Credit risk; Basel Core Principles (search for similar items in EconPapers)
Pages: 7
Date: 2004-01-09
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