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International Monetary Fund. Monetary and Capital Markets Department
The CBvCSM is the sole supervisory authority for all regulated financial institutions operating locally and in the offshore (or international) sector, as well as the stock exchange in Curacao and St Maarten. The financial sector comprises different types of institutions, which include banks and non-bank institutions, insurance companies (both Life, and Non-life), securities intermediaries, asset management firms, investments institutions, fund administrators, management of pension funds, reinsurers, and trust companies.
International Monetary Fund. Monetary and Capital Markets Department

Narendra Sheth, CARTAC’s Short-Term Expert (STX) provided the assistance requested remotely during the period February 1 to 5, 2021. The mission met with Mr. Arnoud Vossen, the Deputy Director of the supervision department and members of his management team; and conducted separate discussions with staff members from the different functional units within supervision, including Account Supervision, and Expert Supervision. The mission also met separately with the President of the CBvCSM, Mr. Richard Doornbosch and the Deputy Director on the last day of the mission to

International Monetary Fund. Monetary and Capital Markets Department

, the CBvCSM implemented a revised organizational structure for financial sector supervision . The new structure comprises 4 functional units (Supervision Policy; Account Supervision; Expert Supervision; and Cross Sectoral Supervision). The revised structure is designed to support the introduction of a Risk-Focused Surveillance Framework (RFSF) across all financial institutions or sectors supervised by the CBvCSM. Currently, there appears to be some element of overlap between the responsibilities of the Expert and Account Supervision units . It is important to

Mr. Bernard J Laurens

1999–2004, the Fund provided assistance to strengthen monetary policy implementation in more than 100 different countries ( Table 2.2 ). Assistance was provided through advisory missions headed by Fund staff and including experts from cooperating central banks (33 missions per year on average), through visits by central bank experts supervised by Fund staff (87 visits per year on average), and through workshops and training activities (7 per year on average). These actions involved a total of more than 100 years of human effort over the six-year period. Some regions

Adelheid Burgi-Schmelz

-handedly can organize data on financial markets globally. It is in recognition of these factors that the IMF and FSB adopted a consultative international approach to developing a common reporting template for the systemically important institutions, involving financial stability experts, supervisors, and statisticians from the countries that are members of the FSB—all of the G-20 plus Hong Kong SAR, the Netherlands, Singapore, Spain, and Switzerland. The reporting template could play an important role in standardizing information and facilitating the process of sharing

International Monetary Fund

enforcing AML requirements in both sectors, although the results and recommendations of the Money Val assessment will need to be studied carefully. Regulation in both sectors now faces significant, similar challenges in the future. 32. It is critically important that regulators are able to build the expertise necessary to support the more complex regulatory system now being put in place . In both sectors, the focus on corporate governance, risk management and controls, and the development of risk-based supervision is increasing the importance of having expert

Asli Demirgüç-Kunt and Ms. Enrica Detragiache
This paper studies whether compliance with the Basel Core Principles for effective banking supervision (BCPs) is associated with bank soundness. Using data for over 3,000 banks in 86countries, we find that neither the overall index of BCP compliance nor its individual components are robustly associated with bank risk measured by Z-scores. We also fail to find a relationship between BCP compliance and systemic risk measured by a system-wide Zscore.
Asli Demirgüç-Kunt and Ms. Enrica Detragiache

argued that assessments are not comparable across countries, despite the best efforts of expert supervisors and internal reviewing teams at the IMF and the World Bank to ensure a uniform methodology and uniform standards. If our negative results arise because compliance assessments do not reflect reality or are not comparable across countries, then – at a minimum – they should lead us to question the value of these assessments in ensuring that supervision measures up to global standards. The paper is organized as follows: The next section contains a review of related

Antonio Garcia Pascual and Jay Surti

of OEFs they supervise through the receipt of timely and sufficiently granular information that can be analyzed by in-house experts. Supervision should also ensure OEFs use their LRM framework and tools appropriately, starting with a discussion with managers regarding supervisory expectations at the fund initiation stage. For many securities regulators, this may require a significant increase in resources given the complexity of the markets and funds they supervise. Resource allocation to supervise the sector should continue to grow in line with the sector’s impact