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Standards and Codes - Implementing the Fund's Medium-Term Strategy and the Recommendations of the 2005 Review of the Initiative

Standards and Codes

Public Information Notice: IMF Executive Board Reviews the Standards and Codes Initiative, August 8, 2005

Public Information Notice: IMF Executive Board Reviews International Standards: Strengthening Surveillance, Domestic Institutions, and International Markets, April 3, 2003

Press Release: IMF Executive Board Approves 12-Month Anti-Money Laundering Pilot Project, November 22, 2002

Policy Papers and Selected News Releases Related to the IMF's Standards Initiative

World Bank ROSCs

See Also:

Financial Sector Assessment Program (FSAP)

Standards and Codes: The Role of the IMF - A Factsheet





Reports on the Observance of Standards and Codes (ROSCs)
Last updated:  Wednesday, January 4, 2017


ROSCs summarize the extent to which countries observe certain internationally recognized standards and codes. The IMF has recognized 12 areas and associated standards as useful for the operational work of the Fund and the World Bank. These comprise accounting; auditing; anti-money laundering and countering the financing of terrorism (AML/CFT); banking supervision; corporate governance; data dissemination; fiscal transparency; insolvency and creditor rights; insurance supervision; monetary and financial policy transparency; payments systems; and securities regulation; AML/CFT was added in November 2002. Reports summarizing countries' observance of these standards are prepared and published at the request of the member country. They are used to help sharpen the institutions' policy discussions with national authorities, and in the private sector (including by rating agencies) for risk assessment. Short updates are produced regularly and new reports are produced every few years.


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Romania
Romania: Financial System Stability Assessment, Including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Securities Regulation, Anti-Money Laundering and Combating the Financing of Terrorism, Monetary and Financial Policy Transparency (PDF File :2.03 MB)
Note :Published as part of a Financial System Stability Assessment
December 16, 2003
Romania: Report on the Observance of Standards and Codes--Fiscal Transparency Module (PDF File :930 KB) November 18, 2002
Romania: Report on Observance of Standards and Codes--Data Module (PDF File :926 KB) November 16, 2001

Russian Federation
Russian Federation : Report on the Observance of Standards and Codes-Basel Core Principles for Effective Banking Supervision (PDF File :533 KB) July 13, 2016
Russian Federation : Report on the Observance of Standards and Codes-IOSCO Objectives and Principles of Securities Regulation (PDF File :1.63 MB) July 13, 2016
Russian Federation : Report on Observance of Standards and Codes-Data Module (PDF File :1.56 MB) March 8, 2011
Russian Federation: Report on the Observance of Standards and Codes - FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (PDF File :627 KB) January 26, 2009
Russian Federation: Report on the Observance of Standards and Codes--Fiscal Transparency Module (PDF File :343 KB) September 3, 2004
Russian Federation: Report on the Observance of Standards and Codes--Data Module, Response by the Authorities, and Detailed Assessment Using Data Quality Assessment Framework (PDF File :1.06 MB) May 14, 2004
Russian Federation: Financial System Stability Assessment including reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Supervision, Monetary and Financial Policy Transparency, Payments Systems, and Securities Regulation (PDF File :3.00 MB)
Note :Published as part of a Financial System Stability Assessment
May 30, 2003

Rwanda
Rwanda: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, and the FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (PDF File :526 KB)
Note :Published as part of a Financial System Stability Assessment
September 13, 2005
Rwanda: Report on the Observance of Standards and Codes--Fiscal Transparency Module (PDF File :289 KB) July 25, 2003

Data Quality Assessments in Data Module ROSCs

Data Module ROSCs have included a substantial data quality assessment component since early 2001. This assessment is based on the Data Quality Assessment Framework (DQAF). The July 2003 version of the DQAF was introduced at the Fifth Review of the Fund's Data Standards Initiatives. It supersedes earlier versions of the DQAF to reflect experience and developments in international methodological standards and generally accepted good statistical practices. Accordingly, ratings for ROSCs using the July 2003 version of the DQAF are not necessarily directly comparable with ROSCs using earlier versions. The July 2003 version also is now used in Data Module ROSC updates for countries that originally were assessed using earlier versions.