Guernsey : Financial System Stability Assessment-Update

Publication Date: January 14, 2011

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Summary: Guernsey is a leading international insurance center in Europe. Its economy purely depends on the performance of the financial sector. As per the 2003 assessment under the Offshore Financial Center (OFC) program, it is found that the Guernsey Financial Services Commission (GFSC)’s powers have been strengthened in recent years and many recommendations of the 2003 Financial Sector Assessment Program (FSAP) have been implemented. The GFSC has developed a strategy for addressing banks' financial stability risks, but strong policy measures will be essential to deal with the potential vulnerabilities and challenges ahead.
Series: IMF Staff Country Reports
Subject(s): Bank supervision | Banking sector | Basel Core Principles | Combating the financing of terrorism | Financial soundness indicators | Insurance supervision | Nonbank financial sector | Reports on the Observance of Standards and Codes

Publication Date: January 14, 2011
ISBN/ISSN: 9781455213764/1934-7685 Format: Paper
Stock No: 1GGYEA2011001 Pages: 48
US$18.00 (Academic Rate:
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