Guernsey: Financial Sector Assessment Program Update-Detailed Assessment of Observance on Basel Core Principles

Volume/Issue: Volume 2011 Issue 003
Publication date: January 2011
ISBN: 9781455213740
$20.00
Add to Cart by clicking price of the language and format you'd like to purchase
Available Languages and Formats
English
Prices in red indicate formats that are not yet available but are forthcoming.
Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Money and Monetary Policy , ISCR , CR , holding company , board of directors , risk management , capital base , internal audit , risk assessment , banking licence , GFSC staff , corporate governance , business plan , senior management , interest rate , Bank supervision , Operational risk , Credit , Market risk , Global

Summary

The Basel Core Principles for Effective Banking Supervision (BCP) assessment confirms the high standard of prudential regulation and supervision described in the 2003 assessment, and found that the issues identified have largely been addressed. The Guernsey Financial Services Commission (GFSC), being the integrated regulator, is responsible for the regulation and supervision of all financial institutions and services provided on the island, and as the banking supervisor, has disciplinary powers to address safety and soundness issues. The GFSC cooperates with the home supervisors of institutions active on the island. Several broad areas for further action have been identified.