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International Monetary Fund. Monetary and Capital Markets Department

assessment procedures. A WG has been set up by the Agency to develop the methodologies for assessing a bank’s ICAAP and for setting capital add-ons . The mission team worked closely with the WGto develop the analytical framework for assessing a bank’s ICAAP and for setting capital add-ons, drawing on international best practice. The main features of an ICAAP assessment were discussed, and a checklist of issues that supervisors should consider when assessing the ICAAP documentation was provided. The various methodologies for assessing and quantifying Pillar 2 capital add

International Monetary Fund. Monetary and Capital Markets Department
This virtual technical assistance (TA) mission supported the Agency in strengthening certain elements of its risk based supervisory framework. The mission focused on assisting the Agency with its development of internal supervisory methodologies for assessing a bank’s ICAAP, and for setting individual Pillar 2 supervisory capital requirements. The mission provided recommendations and targeted training. The priorities for the next TA missions were discussed with the Agency (strengthening banking supervision and cybersecurity, and diagnostic TA of insurance sector supervision will be considered). The mission benefited from simultaneous translation.
International Monetary Fund. Monetary and Capital Markets Department

I. Introduction 1. The MCM Department conducted a remote mission in Almaty, Kazakhstan from November 16,2020 to January 28, 2021 to assist the Agency with its development of internal supervisory methodologies for assessing a bank’s ICAAP, and for setting individual Pillar 2 supervisory capital requirements . The mission held a number of virtual meetings with senior and middle management of the Agency and delivered training to bank supervisors and other Agency staff on the conduct of an ICAAP assessment and setting capital add-ons. The mission also held

International Monetary Fund

, a recent bond repurchase tender, and contained CDS spreads on Iceland should support access to capital markets. Financial Sector and Debt Management The banking sector is slowly recovering. The commercial banks currently have capital ratios well exceeding the regulatory minimum of 12 percent of core tier one capital. Our authorities agree with staff on the need for more frequent ICAAP assessments and stress testing on the basis of macroeconomic scenarios prepared by the authorities and in line with the European Banking Authorities exercise. Finalizing the

International Monetary Fund

, credit risk) and the strengthening and improvement of risk management. Also, the General Provisions for the Supervisory Inspection and Assessment Process were approved. When implementing the Basel II requirements, each bank will be subject to the ICAAP assessment and, in case of any shortcomings, an additional capital adequacy requirement may be imposed on banks. In addition, the BoL considers further strengthening of the liquidity risk management as one of the main priorities in the area of supervision of credit institutions. 17. To ensure business continuity in

International Monetary Fund. African Dept.

Apr-20 MTFF Dec-19 Fiscal Decentralization Nov-19 Legal Department Central Bank Act Amendments Sep-21 Monetary and Capital Markets Department Risk-based Supervision Framework Enhancement -Risk Feb-22 Basel II/III Reform Implementation – ICAAP assessment Jul-21 Risk-based Supervision Framework Enhancement Jun-21 FSSR Main Mission FY21-FY22 May-21 Basel II/III; DSIB Framework Feb-21 Risk-Based Supervision Nov-20 Basel II implementation Mar-19 IFMIS and GFS Jan-19

International Monetary Fund. European Dept.

the relevant supervisors of the FCs. 24. Arrangements for cooperation vary from sectoral cross-border colleges to less formalized supervisory contacts in FCs with limited foreign activities . The NBB is well established as the banking group-level supervisor and takes a clear and well defined role in conducting joint home host activities related to risk assessment, CRD compliance, including ICAAP assessments and group-wide capital adequacy decisions. 14 The supervisory college organized for KBC is the largest and is organized in a core college (including nine EU

International Monetary Fund. European Dept.
Belgian financial conglomerates (FCs) remained important players in the Belgian financial sector, despite significant restructuring following the global financial crisis. FCs operated in multiple streams of the financial sector, especially in banking and insurance. Owing to their economic reach and use of regulated and unregulated entities across sectoral boundaries, FCs presented a challenge for sector-specific supervisory oversight. The Executive Board suggested a pragmatic supervisory approach, which needs to be streamlined and applied more uniformly to contain FC-specific risks.
International Monetary Fund

courses. F. Methods of On-going Supervision (CPs 16–20) 41. Under the CRD requirements, the ICAAP assessment within the SREP, will be carried out once a year for all banks licensed by the CBC . For all Cyprus-based banks on site examinations are conducted once a year, including material overseas operations, however in the case of Cyprus based branches of EU banks the scope is limited. Some banks have already submitted their ICAAP and the CBC is in the process of conducting the SREP. The SREP conclusions form the basis for a structured dialogue between the CBC

International Monetary Fund
This technical note examines Cyprus’s factual update on the Basel Core Principles for Effective Banking Supervision for Cyprus. The 2006 directive on corporate governance provides that each commercial credit institution should have a robust internal governance framework. Although the level of activities of banks in Cyprus that can generate market risk remains low, the Central Bank of Cyprus issued bank guidelines on the management of market risk that include provisions on scenario analysis, stress testing, and contingency planning, as appropriate.