Books and Analytical Papers > High-Level Summary Technical Assistance Reports

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Ms. Sumiko Ogawa and Rhiannon Sowerbutts
The financial stability report of the Banco de la República of Colombia (BR) provides broad coverage of macroeconomic environment and the assessment of risks in the financial system. The BR should continue developing data and enhancing forward-looking analytical approaches, sharpen messages on key risks, and develop a layered communication approach to reach audiences with different levels of technical expertise. As new risks emerge, the BR could take stock and update the structure as needed in the medium term. Over the long term, the BR should continue deepening the understanding of the channels and interaction between financial stability and monetary policy.
Mrs. Gayon M Hosin, Mr. David S. Hoelscher, and Mr. Geoffrey J Mortlock
This technical assistance report on The Bahamas focuses on operationalizing the new bank resolution framework and amended deposit insurance legislation-second mission. The Bahamas has made considerable progress in developing the legal framework, infrastructure, and key tools for an effective bank recovery and resolution regime and is taking steps to operationalize the regime. Effective operationalization of the resolution regime will also require review and reform in other key framework areas, including contingency arrangements for public resolution funding if required, fully implementing the deposit insurance system, and establishing a program of regular testing. Strengthening and updating the supervisory early intervention and recovery planning frameworks and requirements are critical to maintaining financial system stability in the context of acknowledged limits of the structure and depth of the financial system that, in turn, constrain resolution options. Enhancement of the underpinning legislation is recommended to support building out and implementing the operational infrastructure for bank resolution.
Rangachary Ravikumar and Paul Williams
Responding to a request from the Bangko Sentral ng Pilipinas (BSP) for developing a regulatory and supervisory framework for operational resilience, a Technical Assistance mission aided the authorities in identifying regulatory gaps, provided guidance in enhancing the regulatory framework and delivered a training program focusing on regulatory aspects pertaining to operational resilience. The recommendations focused on articulating the case for policy initiative, developing a regulation in consultation with the industry, considering potential severe but plausible scenarios.
Tamas Gaidosch and Rangachary Ravikumar
Central Bank of Trinidad and Tobago requested for technical assistance to: (i) strengthen the cybersecurity posture of the Central Bank, and (ii) strengthen the cybersecurity of the financial institutions. The mission provided support in a project aimed at enhancing its cybersecurity posture focusing on governance and Identity and Access Management (IAM), provided guidance in drafting a guideline applicable to financial institutions and conducted a seminar on regulations. The recommendations focused on strengthening governance aspects, defining the IAM project and drafting a regulation for the financial institutions.
Trever A Lessard, Laszlo Buzas, and Bill Northfield
At the request of the authorities, an IMF team undertook a technical assistance mission to Botswana, from August 17–26, 2022, to support efforts to develop the local currency government bond market. The mission assessed the current stage of the sovereign debt market and formulated policy recommendations for each of the six building blocks included in the Guidance Note for Developing Local Currency Bond Markets.