Switzerland: Financial Sector Assessment Program: Factual Update: Basel Core Principles for Effective Banking Supervision

International Monetary Fund

No 2007/198, IMF Staff Country Reports from International Monetary Fund

Abstract: This technical note presents a factual update of the 2001 assessment of Switzerland’s compliance with the 1997 Basel Core Principles for Effective Banking Supervision (BCP), including a follow-up on implementation of the 2001 BCP assessment, undertaken in the context of the original Financial Sector Assessment Program in 2001. The note discusses that the Swiss Federal Banking Commission (SFBC) has made impressive progress both organizationally and to its supervisory practices to strengthen Switzerland’s banking supervisory framework. The SFBC has also significantly improved its outreach to foreign supervisors and its collaboration with external auditors and the industry.

Keywords: ISCR; CR; bank; auditor; authority; SFBC Banking ordinance; SFBC meeting frequency; risk profile; SFBC staff; licensing regime; SFBC circular; budgetary independence; Basel Core Principles; External audit; Basel II; Auditing; Financial Sector Assessment Program (search for similar items in EconPapers)
Pages: 15
Date: 2007-06-13
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