Samoa: Detailed Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision

International Monetary Fund

No 2007/222, IMF Staff Country Reports from International Monetary Fund

Abstract: This Detailed Assessment of Compliance with the Basel Core Principles for Samoa highlights general preconditions for effective banking supervision. The Central Bank of Samoa (CBS) should consider introducing some straightforward specific capital charges for market price risk and foreign exchange risk. The CBS should require banks to have in place mechanisms for regularly valuing collateral and assessing the strength of guarantees. Several recommendations to further improve the regulatory role of the CBS in accordance with current international standards have been noted and future efforts shall focus on incorporating and developing these as appropriate.

Keywords: ISCR; CR; international bank; risk management; banking group accounting policy; country risk; financial condition; parent bank supervisor; credit policy; domestic bank; asset quality; risk profile; chief executive; ownership interest; bank supervisor; Foreign banks; Internal controls; Capital adequacy requirements; Basel Core Principles; Market risk; Global; Asia and Pacific (search for similar items in EconPapers)
Pages: 51
Date: 2007-06-29
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