British Virgin Islands : Financial Sector Assessment Program Update: Detailed Assessment of Basel Core Principles for Effective Banking Supervision

Author/Editor:

International Monetary Fund

Publication Date:

October 25, 2010

Electronic Access:

Free Full Text (PDF file size is 476 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The Banks and trust Companies Act, Financial Services Commission Act, and the Regulatory Act are considered for banking supervision. The assessment is also based on a self-assessment prepared by the Financial Services Commission (FSC). British Virgin Islands (BVI) law provides three classes of banking licenses. The preconditions for effective banking supervision are present in the BVI. The FSC has sufficient autonomy, powers, and resources with clear responsibilities and objectives. The FSC does not impose specific limits on investments but reviews bank-imposed limits. The FSC has a well-developed system of ongoing supervision in place.

Series:

Country Report No. 10/324

Subject:

English

Publication Date:

October 25, 2010

ISBN/ISSN:

9781455208753/1934-7685

Stock No:

1VGBEA2010002

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

30

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