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Norway Financial Sector Assessment Program Technical Note Oversight And Supervision Of Financial Market Infrastructure And Selected Issues In The Payment System
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Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1513534890 Total Pages :27 pages Book Rating :4.5/5 (135 download)
Book Synopsis Norway: Financial Sector Assessment Program-Technical Note-Oversight and Supervision of Financial Market Infrastructure, and Selected Issues in the Payment System by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Norway: Financial Sector Assessment Program-Technical Note-Oversight and Supervision of Financial Market Infrastructure, and Selected Issues in the Payment System written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2015-09-17 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note reviews the oversight and supervisory framework for systemically important Financial Market Infrastructure (FMI) in Norway. Norway has a modern and stable FMI. The assessment results suggest an effective supervision and oversight framework supported by a strong legal basis, adequate oversight resources, and good domestic and foreign cooperation between authorities. All Norwegian FMIs have completed assessments against the new international standards and are in the process of improving observance where needed. The authorities could consider strengthening their cooperation to address the risks from outsourced critical infrastructures and tighter interdependencies across FMIs. The authorities could also consider additional measures to strengthen the operational resiliency of payment systems.
Book Synopsis Norway by : International Monetary Fund
Download or read book Norway written by International Monetary Fund and published by . This book was released on 2015 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Sweden written by International Monetary and published by International Monetary Fund. This book was released on 2023-04-05 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sweden: Financial Sector Assessment Program-Technical Note on Oversight and Supervision of Financial Market Infrastructures and Selected Issues in Payment Systems
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1513531018 Total Pages :53 pages Book Rating :4.5/5 (135 download)
Book Synopsis Norway by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Norway written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2015-09-17 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note reviews macroprudential policy in Norway. The authorities have taken or announced a wide range of macroprudential measures to address systemic risk. Since the 2008 global financial crisis, the authorities have deployed a range of measures to safeguard the financial system in the country. These measures include higher capital requirements, including early adoption and implementation of the European Union capital regulations, additional capital buffers, etc. These macroprudential measures have focused primarily on building the resilience of banks through higher capital requirements. Good progress has been made on reciprocity agreements to ensure that domestic macroprudential policy measures apply to all banking activities with Norwegian customers.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1484322835 Total Pages :47 pages Book Rating :4.4/5 (843 download)
Book Synopsis Sweden by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Sweden written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2017-10-05 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial market infrastructures (FMI) in Sweden are well developed, and subject to minimum regulatory requirements established in relevant international standards, the CPMI-IOSCO Principles for Financial Market Infrastructures (PFMI). Domestic critical FMIs include two payment systems (RIX, the Swedish RTGS payments system, and Bankgirot, a retail payments system); one CCP (Nasdaq Clearing); and one CSD and SSS (Euroclear Sweden). Several overseas-based FMIs are also important to financial stability in Sweden, including two CCPs (EuroCCP and LCH.Clearnet Ltd), CLS, a settlement system for foreign exchange transactions, and SWIFT, which provides network and message standards for financial transactions.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1498322611 Total Pages :87 pages Book Rating :4.4/5 (983 download)
Book Synopsis Switzerland by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Switzerland written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-06-27 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Sector Assessment Program; Technical Note-Supervision and Oversight of Financial Market Infrastructures
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1513528297 Total Pages :42 pages Book Rating :4.5/5 (135 download)
Book Synopsis Norway by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Norway written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2015-09-17 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note reviews crisis management, bank resolution, and financial sector safety nets in Norway. Arrangements for crisis management, bank and group resolution, and the financial sector safety nets are well developed and tested in Norway. Roles, responsibilities, accountabilities, and information-sharing arrangements among the relevant bodies are generally well defined and functioning. The current legal framework provides substantial powers and flexibility to deal with failing or failed banks but needs to be strengthened in several respects. The Financial Supervisory Authority has begun to implement a recovery plan requirement for the largest banks. The authorities also make good use of simulation exercises to enhance crisis preparedness.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher : ISBN 13 :9781513553122 Total Pages :47 pages Book Rating :4.5/5 (531 download)
Book Synopsis Norway by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Norway written by International Monetary Fund. Monetary and Capital Markets Department and published by . This book was released on 2020-08-12 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note presents a targeted review of selected aspects in the regulation and supervision of banks in Norway. The review is carried out as part of the 2020 Norway Financial Sector Assessment Program (FSAP) and the findings and recommendations are based on the regulatory framework in place and the supervisory practices employed at end-October 2019. The note focuses on the powers and responsibilities, independence, and resourcing of Finanstilsynet (FSA); its supervisory approach and enforcement powers and practices; key aspects of the prudential framework; and mechanisms to prevent abuse of financial services.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1513532758 Total Pages :27 pages Book Rating :4.5/5 (135 download)
Book Synopsis Norway by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Norway written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2015-09-17 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note reviews the oversight and supervisory framework for systemically important Financial Market Infrastructure (FMI) in Norway. Norway has a modern and stable FMI. The assessment results suggest an effective supervision and oversight framework supported by a strong legal basis, adequate oversight resources, and good domestic and foreign cooperation between authorities. All Norwegian FMIs have completed assessments against the new international standards and are in the process of improving observance where needed. The authorities could consider strengthening their cooperation to address the risks from outsourced critical infrastructures and tighter interdependencies across FMIs. The authorities could also consider additional measures to strengthen the operational resiliency of payment systems.
Book Synopsis Operational Resilience in Digital Payments: Experiences and Issues by : Mr. Tanai Khiaonarong
Download or read book Operational Resilience in Digital Payments: Experiences and Issues written by Mr. Tanai Khiaonarong and published by International Monetary Fund. This book was released on 2021-12-10 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Major operational incidents in payment systems suggest the need to improve their resiliency. Meanwhile, as payment infrastructures become more digitalized, integrated, and interdependent, they require an even higher degree of resilience. Moreover, risks that could trigger major disruptions have become more acute given the rise in power outages, cyber incidents, and natural disasters. International experiences suggest the need to strengthen reliability objectives, redundancies, assessment of critical service providers, endpoint security, and alternative arrangements
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1513516663 Total Pages :25 pages Book Rating :4.5/5 (135 download)
Book Synopsis Norway: Financial Sector Assessment Program-Technical Note-Linkages and Interconnectedness in the Norwegian Financial System by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Norway: Financial Sector Assessment Program-Technical Note-Linkages and Interconnectedness in the Norwegian Financial System written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2015-09-17 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note reviews linkages and interconnectedness in the Norwegian financial system for Norway. Norway's banks have important connections with global financial centers, but regional links are also important. Norwegian banks are very dependent on global financial centers as sources of funding and to hedge currency risks. Cross-sectoral exposures of Norway's banks, insurance companies, and real estate companies are significant and extend beyond the Nordic region. The authorities are encouraged to expand their current monitoring efforts of crossborder and cross-sectoral exposures of the Norwegian financial sector, and to conduct regional stress tests. For this effect, the authorities can resort to market data and, if available, to balance sheet data of exposures at the individual financial institution level.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :147559982X Total Pages :35 pages Book Rating :4.4/5 (755 download)
Book Synopsis New Zealand by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book New Zealand written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2017-05-10 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note assesses regulation and oversight of financial market infrastructures (FMIs) in New Zealand. The regulatory and oversight framework for FMIs in New Zealand is undergoing a major reform. The Reserve Bank of New Zealand and the Financial Markets Authority (FMA) currently lack sufficient legal powers to identify and address risks building up in FMIs, partly because the regime is voluntary and the authorities do not have the appropriate toolkit to pursue their oversight objectives. It is recommended that supervisory practices be formalized and staff resources increased. The role of the FMA should be further clarified.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1498322328 Total Pages :30 pages Book Rating :4.4/5 (983 download)
Book Synopsis Switzerland by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Switzerland written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-06-27 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Sector Assessment Program; Technical Note-Selected Issues on Banking Supervision
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1484322894 Total Pages :34 pages Book Rating :4.4/5 (843 download)
Book Synopsis Sweden by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Sweden written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2017-10-05 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: A rising share of highly indebted households and high housing prices pose serious macrofinancial risks. The impact of a house price decline in Sweden, with an associated loss of confidence in housing collateral, could be amplified by Swedish banks’ reliance on wholesale funding. Given the interconnectedness within the Nordic-Baltic financial systems such a shock could have significant spillover effects across the region. Higher bank capital is not sufficient to mitigate risks. Households should be made more resilient in the short term by the adoption of a maximum debt-to-income ratio; strong political action should be addressed to remove obstacles to increasing housing supply while macroprudential policies should be used to moderate housing demand during the adjustment period; removing tax benefits associated with real estate holdings and funding is also needed to reduce imbalances.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher : ISBN 13 :9781513553139 Total Pages :36 pages Book Rating :4.5/5 (531 download)
Book Synopsis Norway by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Norway written by International Monetary Fund. Monetary and Capital Markets Department and published by . This book was released on 2020-08-12 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Norway has made substantial progress in strengthening its framework for financial crisis management and bank safety nets since the 2015 FSAP. The Norwegian authorities have implemented the EU framework. The Bank Recovery and Resolution Directive (BRRD) has been transposed into the Norwegian legal framework mainly by amendments to the Financial Institutions and Financial Groups Act and accompanying regulations. Finanstilsynet (the Financial Supervisory Authority of Norway, FSA) has been designated as Norway's resolution authority. Resolution financing options were broadened by establishing a resolution fund. While the Deposit Guarantee Scheme Directive (DGSD) has yet to be brought into the European Economic Area (EEA) agreement, Norway has, in fact, already transposed it into the Norwegian law. This provides the Norwegian authorities with a broadened and detailed regulatory framework for dealing with weak banks.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1513547143 Total Pages :57 pages Book Rating :4.5/5 (135 download)
Book Synopsis Norway: Financial Sector Assessment Program - Financial System Stability Assessment by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Norway: Financial Sector Assessment Program - 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 2015-09-09 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Norway’s financial system coped well with the global financial crisis and has further increased buffers to deal with potential shocks, but significant financial imbalances have also built up since then. Favorable macroeconomic conditions in recent years have helped maintain financial stability. However, the prolonged period of low interest rates and high oil prices have fueled credit and asset price growth, leading to higher vulnerabilities. The housing market is estimated to be overvalued by 25–60 percent, and, at about 220 percent, the household debt-to-disposable income ratio is among the highest in the world. To finance this increase in lending to households, banks have relied extensively on wholesale funding. At the same time, Norway’s close regional and global interconnectedness is a source of potential spillover risks. Stress tests suggest that under severe macroeconomic shocks banks and life insurers could face important but manageable capital shortfalls. A combination of severe shocks—including protracted low oil prices and a sharp contraction in house prices—could result in an aggregate capital shortfall for banks of up to 4.6 percent of GDP over five years. This requires continued action to ensure adequate capital buffers, including through discretionary requirements under Pillar II of the capital framework. Norwegian banking groups also face liquidity gaps in domestic currency and are exposed to maturity mismatches and rollover risks, due to their reliance on currency swaps. Insurers’ solvency ratios would decline sharply under a combination of severe shocks under the Solvency II framework, although the rule for the transition to Solvency II would significantly reduce the immediate need for insurers to raise capital. The Financial Supervisory Authority of Norway (FSA) should continue to constrain dividend distribution by weakly capitalized insurance institutions and ensure that the insurance businesses of conglomerates are adequately capitalized on a solo basis.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1475593929 Total Pages :31 pages Book Rating :4.4/5 (755 download)
Book Synopsis Kingdom of the Netherlands-Netherlands: Financial Sector Assessment Program: by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Kingdom of the Netherlands-Netherlands: Financial Sector Assessment Program: written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2017-04-13 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for the Netherlands on regulation, supervision, and oversight of financial market infrastructures (FMIs), whose supervision has been significantly strengthened in recent years. Good progress has been made to ensure that FMIs across the European Union, including in the Netherlands, are subject to a common regulatory framework. It is suggested that the Dutch central bank review the allocation of resources across various FMIs. The European Central Counterparty N.V. should also prioritize recruitment of a third Management Board member to ensure an effective board.
