Australia: Financial Sector Assessment Program: Detailed Assessment of Observance of Standards and Codes
IMF Staff Country Reports, November 21, 2006
Source details
- Canonical URL
- Australia: Financial Sector Assessment Program: Detailed Assessment of Observance of Standards and Codes
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Bibliographic details
- Published: November 21, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451802146.002
Summary and main findings
- Assessment of the current state of Australia’s implementation of the Basel Core Principles for Effective Banking Supervision.
- Completed as part of a Financial Sector Assessment Program (FSAP) undertaken in December 2005 by the International Monetary Fund.
- The assessment team reviewed the legal framework for banking supervision.
- The team worked with a comprehensive self-assessment completed by the Australian authorities, enjoyed excellent cooperation with its counterparts, and received all the information it required.
- The financial system is relatively large and diversified.
Methodology and scope
- Undertaken as an FSAP mission in December 2005.
- Review focused on the legal framework for banking supervision and observance of the Basel Core Principles for Effective Banking Supervision.
- The assessment team used the Australian authorities’ comprehensive self-assessment as a substantive input.
Subjects and keywords
- Subject: Banking, Capital adequacy requirements, Financial institutions, Financial markets, Financial regulation and supervision, Financial services, Insurance, Insurance companies, Payment systems
- Keywords: banking group, business plan, Capital adequacy requirements, central bank, CR, financial system, Global, Insurance, Insurance companies, internal audit, ISCR, monetary policy, Payment systems, risk management