Guernsey : financial sector assessment program update : detailed assessment of observance on Basel core principles / International Monetary Fund, Monetary and Capital Markets Dept
Cover; Contents; Glossary; I. Summary, Key Findings, and Recommendations; A. Introduction; B. Information and Methodology Used for Assessment; C. Institutional and Macroeconomic Setting and Market Structure-Overview; D. Preconditions for Effective Banking Supervision; E. Main Findings; Tables; 1. Summary of Compliance with the Basel Core Principles-Detailed Assessments; II. Recommended Action Plan and Authorities' Response to the Assessment; 2. Recommended Action Plan to Improve Compliance with the Basel Core Principles; 3. Detailed Assessment of Compliance with the Basel Core Principles
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 institutio
Notes
Title from PDF title page (IMF Web site, viewed January 9, 2012)
