Cyprus: Detailed Assessments of Observance of Standards and Codes for Banking Supervision, Insurance Supervision, and Securities Regulation
October 23, 2006
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The Compliance of the Basel Core Principles welcomes the assessors’ recognition of the overall quality and effectiveness of Cyprus’s banking regulatory and supervisory framework in place, and the resulting high degree of compliance with the Basel Core Principles. Regulation has to be defined to set a frame in which insurance undertakings can operate. Clear objectives and measures should be defined for the Superintendent of Insurance. The International Organization of Securities Commissions Principles was assessed in accordance with the criteria in the Guidance Note.
Subject: Banking, Capital adequacy requirements, Financial institutions, Financial markets, Financial regulation and supervision, Insurance, Insurance companies, Internal controls, Revenue administration, Stock markets
Keywords: capital adequacy ratio, Capital adequacy requirements, capital base, central bank, CR, financial market, Global, holding company, Insurance, Insurance companies, Internal controls, investment firm, ISCR, national bank, personnel department, senior management, Stock markets
Pages:
128
Volume:
2006
DOI:
Issue:
376
Series:
Country Report No. 2006/376
Stock No:
1CYPEA2006002
ISBN:
9781451809886
ISSN:
1934-7685
