Cyprus: Financial Sector Assessment Program Update: Technical Note: Factual Update on Basel Core Principles for Effective Banking Supervision: ASDCS

June 1, 2009

Summary

This technical note presents Cyprus’s Financial Sector Assessment Program Update. The authority has worked to enhance the quality of supervision, inter alia in the organizational area, upgrading the number of staff and staff expertise, and planning to intensify onsite supervision. A single supervisor for all banks operating in Cyprus could enhance the effectiveness and efficiency of supervision and could support the creation of a level playing for all banks.

Subject: Basel Core Principles, Capital adequacy requirements, Cooperative banks, Financial institutions, Financial regulation and supervision, Internal controls, Market risk, Operational risk, Revenue administration

Keywords: ASDCS to the CCIs, ASDCS's staff, Basel Core Principles, Capital adequacy requirements, computerization project, cooperative, Cooperative banks, CR, Internal controls, ISCR, licensing regime, Operational risk, process CCIs, supervision, term Cooperative Credit Institution

Pages:
18
Volume:
2009
DOI:
https://doi.org/10.5089/9781451809930.002
Issue:
168
Series:
Country Report No. 2009/168
Stock No:
1CYPEA2009002
ISBN:
9781451809930
ISSN:
1934-7685

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