El Salvador: Detailed Assessment of Compliance of the Basel Core Principles for Effective Banking Supervision
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
This paper presents an assessment of compliance with the Basel Core Principles for Effective Banking Supervision in El Salvador. The regulatory authority Superintendencia del Sistema Financiero (SSF) has taken a number of initiatives to strengthen and upgrade supervision. This includes, among others, a risk unit with specialized expertise and continued efforts to foster cross-border cooperation and coordination. Despite considerable efforts, for the SSF is commended for its efforts, the lack of regulation in practically all risk categories is a major impediment to further progress. The lack of standards in those areas, combined with severe shortcomings in legal protection and deficiencies in the remedial action framework for addressing minor transgressions, limits the SSF’s ability to address imprudent behavior by banks.
Series:
Country Report No. 2014/045
Subject:
Bank legislation Banking Credit risk Financial institutions Financial regulation and supervision Loans Market risk Operational risk
English
Publication Date:
February 11, 2014
ISBN/ISSN:
9781475554465/1934-7685
Stock No:
1SLVEA2014002
Pages:
66
Please address any questions about this title to publications@imf.org