Denmark: Financial Sector Assessment Program: Detailed Assessment of Observance of the Basel Core Principles

International Monetary Fund

No 2007/118, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the Detailed Assessment of Observance of the Basel Core Principles for Denmark. The assessment reveals that the basic legal framework is contained in the Financial Business Act (FBA), and in executive orders and explanatory guidelines issued pursuant to the FBA. These provide powers for the Danish Financial Supervisory Authority to supervise all financial institutions. Legal protection for supervisors is currently not provided for in specific legislation but general legislative arrangements ensure that staff is protected against lawsuits while discharging their duties in good faith.

Keywords: ISCR; CR; banking group; board of directors; DFSA inspector; mortgage bank; mortgage-credit institution; internal auditor; DFSA responsibility; joint stock; credit policy; DFSA guideline; asset quality; Credit; Bank supervision; Capital adequacy requirements; External audit; Foreign banks; Global (search for similar items in EconPapers)
Pages: 46
Date: 2007-03-23
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