A Regulatory Design For Financial Stability In Hong Kong

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A Regulatory Design for Financial Stability in Hong Kong

Author : Evan Gibson
Publisher : Cambridge University Press
ISBN 13 : 1009027581
Total Pages : 339 pages
Book Rating : 4.0/5 (9 download)

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Book Synopsis A Regulatory Design for Financial Stability in Hong Kong by : Evan Gibson

Download or read book A Regulatory Design for Financial Stability in Hong Kong written by Evan Gibson and published by Cambridge University Press. This book was released on 2022-09-01 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Hong Kong, the banking system is the primary source of financial stability risk. Post-2008 regulatory reforms have focused on financial stability policies and tools while neglecting the design of supervisory models. This book provides a comparative analysis of how supervisory models affect the management of financial stability regulations in Hong Kong's banking system. Regulatory issues discussed span prudential regulations, systemically important banks, unconventional liquidity tools, deposit insurance, lender of last resort, resolution regimes, central clearing counterparties and derivatives, Renminbi infrastructure, stock and bond connect schemes, distributed ledger technology, digital yuan, US dollar sanctions, cryptocurrencies, RegTech, and FinTech. A Regulatory Design for Financial Stability in Hong Kong elucidates the flaws and synergies in Hong Kong's banking regulatory framework and proposes conventional and innovative regulatory reforms. This book will be of great interest to banking, financial, and legal practitioners, central bankers, regulators, policy makers, finance ministries, scholars, researchers, and policy institutes.

The Cambridge Handbook of Twin Peaks Financial Regulation

Author : Andrew Godwin
Publisher : Cambridge University Press
ISBN 13 : 1316946886
Total Pages : 595 pages
Book Rating : 4.3/5 (169 download)

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Book Synopsis The Cambridge Handbook of Twin Peaks Financial Regulation by : Andrew Godwin

Download or read book The Cambridge Handbook of Twin Peaks Financial Regulation written by Andrew Godwin and published by Cambridge University Press. This book was released on 2021-07-15 with total page 595 pages. Available in PDF, EPUB and Kindle. Book excerpt: First proposed in 1994, the Twin Peaks model of financial system regulation employs two specialist peak regulators: one charged with the maintenance of financial system stability, and the other with market conduct and consumer protection. This volume, with contributions from over thirty scholars and senior regulators, provides an in-depth analysis of the similarities and differences in the Twin Peaks regimes that have been adopted around the world. Chapters examine the strengths and weaknesses of the model, provide lessons from Australia (the first to adopt the model), and offer a comparative look at the potential suitability of the model in leading non-Twin Peaks jurisdictions. A key resource for central bankers, public policy analysts, lawyers, economists, politicians, academics and students, this work provides readers with a comprehensive understanding of the Twin Peaks model, and a roadmap for countries considering its adoption.

People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policies

Download People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policies PDF Online Free

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513573284
Total Pages : 45 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policies by : International Monetary

Download or read book People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policies written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-15 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The institutional framework for Macroprudential Policies (MaPP) in the Hong Kong Special Administrative Region (the Hong Kong SAR) is well established. According to the Basic Law, the Government of the Hong Kong SAR shall on its own formulate monetary and financial policies. The Financial Secretary (FS) and the Secretary for Financial Services and the Treasury (SFST) are responsible for policies for maintaining the stability and integrity of the financial system of the Hong Kong SAR. The Hong Kong SAR has a sector-based regulatory structure and the responsibilities and tools for safeguarding financial stability are spread across the Financial Services and the Treasury Bureau (FSTB) and three regulators (namely, the Hong Kong Monetary Authority (HKMA), Securities and Futures Commission (SFC) and Insurance Authority (IA)). There are good and well-structured interagency coordination and consultation mechanisms, through the Council of Financial Regulators (CFR) and the Financial Stability Committee (FSC), chaired by the FS and the SFST, respectively. Broad coordination between the CFR and government agencies on taxation and housing supply-side policies has also worked well. MaPP and risk assessment are communicated to the public openly and frequently through speeches, press releases and regular publications, including the Half-Yearly Monetary and Financial Stability Report of the HKMA and the Half-yearly Review Report of the Global and Local Securities Markets of the SFC.

Building Regulatory and Supervisory Technology Ecosystems

Author : Asian Development Bank
Publisher : Asian Development Bank
ISBN 13 : 9292696742
Total Pages : 106 pages
Book Rating : 4.2/5 (926 download)

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Book Synopsis Building Regulatory and Supervisory Technology Ecosystems by : Asian Development Bank

Download or read book Building Regulatory and Supervisory Technology Ecosystems written by Asian Development Bank and published by Asian Development Bank. This book was released on 2022-08-01 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication explores the use of regulatory technology (regtech) in finance. It discusses how to design an optimal architecture, alongside policy considerations for an integrated regtech and supervisory technology ecosystem. It highlights the interaction of industry use of technology in compliance and risk management; regulator and supervisor use of technology for supervision, monitoring, and enforcement; and use of technology to embed regulatory requirements and systems into financial infrastructure. The publication introduces key policy frameworks that enable ecosystem relationships at national, regional, and international levels, and showcases vital agile data management and standardization frameworks.

People’s Republic of China–Hong Kong Special Administrative Region

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 149835274X
Total Pages : 31 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis People’s Republic of China–Hong Kong Special Administrative Region by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book People’s Republic of China–Hong Kong Special Administrative Region written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2014-07-16 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note on Crisis Management and Bank Resolution Framework was prepared in the context of the Financial Sector Assessment Program for the People’s Republic of China–Hong Kong Special Administrative Region (HKSAR). Overall, the existing institutional framework facilitates communication and coordination domestically, as well as on a cross-border basis. Information sharing and coordination among domestic regulatory authorities and with the Government is undertaken through a variety of formal mechanisms, which are supported by sound legal bases for the exchange of confidential information. There are complementary structures in place for macro- and micro-prudential supervision that contribute to the prevention and identification of problems in banks. Market-wide or bank intrinsic risk issues will be identified by macroprudential surveillance and bank supervision in the Hong Kong Monetary Authority, or by other financial sector regulatory bodies. The deposit protection scheme is transparent, and trusted; however, steps should be taken to enhance efficiency of pay-outs and to ensure the scheme’s sustainability.

People’s Republic of China––Hong Kong Special Administrative Region: Financial System Stability Assessment

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 1498306705
Total Pages : 44 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis People’s Republic of China––Hong Kong Special Administrative Region: Financial System Stability Assessment by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book People’s Republic of China––Hong Kong Special Administrative Region: Financial System Stability Assessment written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2014-05-22 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Financial System Stability Assessment report on Hong Kong Special Administrative Region (HKSAR) highlights that HKSAR’s financial sector is very well regulated, with the capacity to withstand a diversity of shocks. The sector, however, faces major risks, which puts a significant premium on effective liquidity management, macroprudential oversight, and microprudential supervision. The regulation and supervision framework of the financial sector is of a high caliber, and displays a high level of compliance with international standards, but there remains scope for further strengthening. Financial market infrastructures are highly sophisticated, but further enhancements are needed to fully comply with new international standards.

People’s Republic of China-Hong Kong Special Administrative Region

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 1498300316
Total Pages : 38 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis People’s Republic of China-Hong Kong Special Administrative Region by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book People’s Republic of China-Hong Kong Special Administrative Region written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2014-07-16 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note on Oversight and Supervision of Financial Market Infrastructures has been prepared in the context of the Financial Sector Assessment Program for the People’s Republic of China–Hong Kong Special Administrative Region (HKSAR). Nine financial market infrastructures (FMIs) operate in HKSAR; the effectiveness of their supervision and oversight is critical in maintaining financial stability. In order to support their objective of consolidating Hong Kong’s position as an international financial center, the Hong Kong authorities have fostered the development of sophisticated and multicurrency FMIs. The risks associated with domestic and overseas linkages appear to be adequately managed. Extensive domestic and overseas system linkages have been implemented making HKSAR a regional settlement hub. The legal framework should be amended to explicitly prohibit a domestic clearing house from operating in HKSAR without being recognized as such. The respective legal framework and policy mandate determines the actions of the Hong Kong Monetary Authority and the Securities and Futures Commission as the two regulatory, oversight and supervision authorities for FMIs in HKSAR.

Financial Markets in Hong Kong

Author : Douglas Arner
Publisher : Oxford Legal Research Library
ISBN 13 : 9780198706472
Total Pages : 0 pages
Book Rating : 4.7/5 (64 download)

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Book Synopsis Financial Markets in Hong Kong by : Douglas Arner

Download or read book Financial Markets in Hong Kong written by Douglas Arner and published by Oxford Legal Research Library. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the publication of the first edition in 2006, financial regulation around the world has changed dramatically as a result of the 2008 global financial crisis. As one of the world's leading financial centres, international regulatory reforms have had a significant impact on the legal and regulatory system in Hong Kong. This new second edition provides a comprehensive and authoritative single-volume guide to the main areas of financial regulation and financial law in Hong Kong. Given the massive changes in financial regulation globally and in Hong Kong, the second edition has been substantially rewritten and revised to address changes in markets and their legal and regulatory frameworks, as well as the implications of these changes to future market development. The book is in five parts: The first part considers the evolution of Hong Kong's role as a financial centre and the development of its financial regulatory structure, one that is perhaps unusually complex given the size of the jurisdiction. The second part discusses the regulation of the banking, securities, insurance sectors, including the regulatory powers of the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission of Hong Kong (SFC), the Office of the Commissioner of Insurance (OCI), and the forthcoming Independent Insurance Authority (IIA). The third part covers regulation of financial products and services, including securities offerings and listings, investment products and asset management, financial derivatives, and takeovers and mergers. The fourth part addresses market conduct and misconduct, including corporate governance, market abuse and financial crime. Finally, the fifth part examines the international context, focusing on the relationship between Hong Kong's financial markets and regulation and mainland China as well as key issues for Hong Kong's role as a major global financial centre.

Institutional Arrangements for Macroprudential Policy in Asia

Author : Cheng Hoon Lim
Publisher : International Monetary Fund
ISBN 13 : 1484338367
Total Pages : 22 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Institutional Arrangements for Macroprudential Policy in Asia by : Cheng Hoon Lim

Download or read book Institutional Arrangements for Macroprudential Policy in Asia written by Cheng Hoon Lim and published by International Monetary Fund. This book was released on 2013-07-17 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper surveys institutional arrangements for macroprudential policy in Asia. Central banks in Asia typically have a financial stability mandate, and play a key role in the macroprudential framework. Smaller and more open economies with prudential regulation inside the central bank tend to have institutional arrangements that give the central bank a leading role. In larger and more complex economies where prudential regulation is outside the central bank, the financial stability mandate is usually shared with other agencies and the government tends to play a leading role. Domestic policy coordination is typically performed by a financial stability committee/other coordination body while cross-border cooperation is largely governed by Memoranda of Understanding.

Financial Stability, Economic Growth, and the Role of Law

Author : Douglas W. Arner
Publisher : Cambridge University Press
ISBN 13 : 113946454X
Total Pages : 331 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis Financial Stability, Economic Growth, and the Role of Law by : Douglas W. Arner

Download or read book Financial Stability, Economic Growth, and the Role of Law written by Douglas W. Arner and published by Cambridge University Press. This book was released on 2007-06-04 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial crises have become an all too common occurrence over the past twenty years, largely as a result of changes in finance brought about by increasing internationalization and integration. As domestic financial systems and economies have become more interlinked, weaknesses can significantly impact not only individual economies but also markets, financial intermediaries, and economies around the world. This volume addresses the twin objectives of financial development in the context of financial stability and the role of law in supporting both. Financial stability (frequently seen as the avoidance of financial crisis) has become an objective of both the international financial architecture and individual economies and central banks. At the same time, financial development is now seen to play an important role in economic growth. In both financial stability and financial development, law and related institutions have a central role.

Research Handbook on Asian Financial Law

Author : Douglas W. Arner
Publisher : Edward Elgar Publishing
ISBN 13 : 1788972201
Total Pages : 608 pages
Book Rating : 4.7/5 (889 download)

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Book Synopsis Research Handbook on Asian Financial Law by : Douglas W. Arner

Download or read book Research Handbook on Asian Financial Law written by Douglas W. Arner and published by Edward Elgar Publishing. This book was released on 2020-01-31 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Research Handbook provides an in-depth analysis of the different financial law approaches, legal systems and trends throughout Asia. It considers how reforms following the crises have been critical for the development and growth of the region and explores a broad range of post-crisis financial regulatory issues. This timely book also examines how inconsistent and divergent approaches to financial market regulation are curtailing the region’s potential.

People’s Republic of China—Hong Kong Special Administrative Region: Financial System Stability Assessment-Press Release and Statement by the Executive Director for the People’s Republic of China—Hong Kong Special Administrative Region

Download People’s Republic of China—Hong Kong Special Administrative Region: Financial System Stability Assessment-Press Release and Statement by the Executive Director for the People’s Republic of China—Hong Kong Special Administrative Region PDF Online Free

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513573101
Total Pages : 66 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis People’s Republic of China—Hong Kong Special Administrative Region: Financial System Stability Assessment-Press Release and Statement by the Executive Director for the People’s Republic of China—Hong Kong Special Administrative Region by : International Monetary

Download or read book People’s Republic of China—Hong Kong Special Administrative Region: Financial System Stability Assessment-Press Release and Statement by the Executive Director for the People’s Republic of China—Hong Kong Special Administrative Region written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-08 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main macro-financial risks relate to extensive linkages to Mainland China, stretched real estate valuations, and exposure to shifts in global market and domestic risk sentiment, compounded by escalating U.S.-China tensions. Stress tests show that the financial system is resilient to severe macro-financial shocks, but there are pockets of vulnerabilities in foreign bank branches, investment funds, households, and nonfinancial corporates. Hong Kong SAR’s financial sector is also exposed to physical and transition risks from climate change.

Development of China's Financial Supervision and Regulation

Author : Bin Hu
Publisher : Springer
ISBN 13 : 1137522259
Total Pages : 253 pages
Book Rating : 4.1/5 (375 download)

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Book Synopsis Development of China's Financial Supervision and Regulation by : Bin Hu

Download or read book Development of China's Financial Supervision and Regulation written by Bin Hu and published by Springer. This book was released on 2016-06-10 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s financial regulatory system is crucial to the global economy, but is little understood. This book surveys and explicates the current status, the development, and planned reform of the Chinese financial supervision and regulatory system in a systematic way. From the shadow banking system to commercial banking, securities and the foreign exchange regime, the authors shed light on the different moving parts of the system; meanwhile, they show how reforms have changed the system in recent years, whether in free-trade zones, the Shanghai-Hong Kong stock market connection, or in the registration mechanisms required for new IPOs. The editors and authors are from the Chinese Academy of Social Sciences, the China Banking Regulatory Committee, the China Securities Regulatory Committee and other leading academic and policy organizations.

Institutional Arrangements for Fintech Regulation and Supervision

Author : Mr.Charles R Taylor
Publisher : International Monetary Fund
ISBN 13 : 151352030X
Total Pages : 19 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Institutional Arrangements for Fintech Regulation and Supervision by : Mr.Charles R Taylor

Download or read book Institutional Arrangements for Fintech Regulation and Supervision written by Mr.Charles R Taylor and published by International Monetary Fund. This book was released on 2020-01-10 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fintech developments are shaking up mandates within the existing regulatory architecture. It is not uncommon for financial sector agencies to have multiple policy objectives. Most often the policy objectives for these agencies reflect prudential, conduct and financial stability policy objectives. In some cases, financial sector agencies are also allocated responsibility for enhancing competition and innovation. When it comes to fintech, countries differ to some extent in the manner they balance the objectives of promoting the development of fintech and regulating it. Countries see fintech as a means of achieving multiple policy objectives sometimes with lesser or greater degrees of emphasis, such as accelerating development and spurring financial inclusion, while others may support innovation with the objective of promoting competition and efficiency in the provision of financial services. This difference in emphasis may impact institutional structures, including the allocation of staff resources. Conflicts of interest arising from dual roles are sometimes managed through legally established prioritization of objectives or establishment of separate internal reporting lines for supervision and development.

New Paradigms for Financial Regulation

Author : Masahiro Kawai
Publisher : Rowman & Littlefield
ISBN 13 : 0815722656
Total Pages : 301 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis New Paradigms for Financial Regulation by : Masahiro Kawai

Download or read book New Paradigms for Financial Regulation written by Masahiro Kawai and published by Rowman & Littlefield. This book was released on 2012-12-20 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press and Asian Development Bank Institute publication The global financial crisis has led to a sweeping reevaluation of financial market regulation and macroeconomic policies. Emerging markets need to balance the goals of financial development and broader financial inclusion with the imperative of strengthening macroeconomic and financial stability. The third in a series on emerging markets, New Paradigms for Financial Regulation develops new analytical frameworks and provides policy prescriptions for how the frameworks should be adapted to a world of more free and more volatile capital. This volume provides an overview of the global regulatory landscape from the perspective of Asian emerging markets. The contributors discuss the many challenges ahead in developing sound and flexible financial regulatory systems for emerging market economies. The challenges are heightened by the rising integration of these economies into global trade and finance, the growing sophistication of their financial systems as globalization and emergence processes accelerate, and their potential vulnerability to instability arising from the financial markets in the advanced economies. The contributors provide guidance about pitfalls to be avoided, general principles that should guide the creation of sound regulatory systems, and valuable analytic perspectives about how to continue to broaden the financial sector and innovate while still maintaining financial and macroeconomic stability.

People’s Republic of China––Hong Kong Special Administrative Region: Report on the Observance of Standards and Codes

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 1498343325
Total Pages : 72 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis People’s Republic of China––Hong Kong Special Administrative Region: Report on the Observance of Standards and Codes by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book People’s Republic of China––Hong Kong Special Administrative Region: Report on the Observance of Standards and Codes written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2014-05-22 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Report on the Observance of Standards and Codes for Hong Kong Special Administrative Region (HKSAR). HKSAR has a very high level of compliance with the Basel Core Principles for Effective Banking Supervision. The Hong Kong Monetary Authority (HKMA) complements its high supervisory standards with a sustained commitment to the international regulatory reform agenda where it is an early adopter of many standards. The banking system is characterized by the dominant presence of institutions with foreign ownership, including the systemic banks, which puts a premium on the HKMA’s role as a host supervisory authority.

People’s Republic of China––Hong Kong Special Administrative Region

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 1498313213
Total Pages : 44 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis People’s Republic of China––Hong Kong Special Administrative Region by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book People’s Republic of China––Hong Kong Special Administrative Region written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2014-05-22 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Financial System Stability Assessment report on Hong Kong Special Administrative Region (HKSAR) highlights that HKSAR’s financial sector is very well regulated, with the capacity to withstand a diversity of shocks. The sector, however, faces major risks, which puts a significant premium on effective liquidity management, macroprudential oversight, and microprudential supervision. The regulation and supervision framework of the financial sector is of a high caliber, and displays a high level of compliance with international standards, but there remains scope for further strengthening. Financial market infrastructures are highly sophisticated, but further enhancements are needed to fully comply with new international standards.