Czech Republic: Report on the Observance of Standards and Codes—Banking Supervision

Czech Republic: Report on the Observance of Standards and Codes—Banking Supervision—Update

January 9, 2004

Preview Citation

Format: Chicago

Czech Republic: Report on the Observance of Standards and Codes—Banking Supervision—Update, (USA: International Monetary Fund, 2004) accessed November 8, 2024

Summary

The Czech government placed high priority on implementing and observing the international standards relevant for financial stability. The supervisory staff exhibited a high understanding of best international supervisory standards, policies, and practices. Nevertheless, the report noted significant weaknesses in laws governing debtor-creditor relations, inefficiencies in the judicial process, cumbersome administrative requirements, and low supervisory skills, and the need to audit computer-based systems and evaluate risk management systems. Enhancing the legal and regulatory framework is required to build up supervisory capacity, and to increase attention to supervisory coordination and cooperation.

Subject: Banking, Basel Core Principles, Credit risk, Financial regulation and supervision, Market risk

Keywords: Basel Core Principles, CNB report, CR, Credit risk, FSAP mission, ISCR, Market risk, Right of the CNB, Risk management, Risk management management system, Sc, Supervision, Targeted on-site inspection

Publication Details

Pages:

7
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2004/004
Stock No:

1CZEEA0032004
ISBN:

9781451810165
ISSN:

1934-7685

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