Denmark: Financial Sector Assessment Program: Detailed Assessment of Observance of the Basel Core Principles
IMF Staff Country Reports, March 23, 2007
Source details
- Canonical URL
- Denmark: Financial Sector Assessment Program: Detailed Assessment of Observance of the Basel Core Principles
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Bibliographic details
- Published: March 23, 2007
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451811155.002
Executive summary and scope
- Publication date: March 23, 2007
- Objective: Detailed Assessment of Observance of the Basel Core Principles for Denmark.
- Main conclusion: The basic legal framework for financial supervision is contained in the Financial Business Act (FBA), and in executive orders and explanatory guidelines issued pursuant to the FBA.
Legal and institutional framework
- Legal basis:
- Financial Business Act (FBA).
- Executive orders and explanatory guidelines pursuant to the FBA.
- Supervisory authority:
- The Danish Financial Supervisory Authority (DFSA) is provided powers to supervise all financial institutions under the FBA and its subordinate instruments.
- Legal protection for supervisors:
- Specific legislation does not currently provide legal protection for supervisors.
- General legislative arrangements ensure that staff is protected against lawsuits while discharging their duties in good faith.
Key thematic findings
- Bank supervision: The FBA and subsidiary instruments form the core supervisory framework.
- Capital adequacy requirements: Assessed as part of the Basel Core Principles observance (detailed findings in full assessment).
- Credit and asset quality: Addressed within the assessment scope (detailed findings in full assessment).
- External audit and internal audit: Included in the assessment of supervisory arrangements.
- Foreign banks and banking groups: Supervision covered under the DFSA powers established by the FBA.
Subjects and keywords (as listed)
- Subjects: Bank supervision, Banking, Capital adequacy requirements, Credit, External audit, Financial institutions, Financial regulation and supervision, Foreign banks, Money, Public financial management (PFM).
- Keywords: asset quality, Bank supervision, banking group, board of directors, Capital adequacy requirements, CR, Credit, credit policy, DFSA guideline, DFSA inspector, DFSA responsibility, External audit, Foreign banks, Global, internal auditor, ISCR, joint stock, mortgage bank, mortgage-credit institution.