Guernsey: Financial System Stability Assessment-Update

January 14, 2011

Summary

Guernsey is a leading international insurance center in Europe. Its economy purely depends on the performance of the financial sector. As per the 2003 assessment under the Offshore Financial Center (OFC) program, it is found that the Guernsey Financial Services Commission (GFSC)’s powers have been strengthened in recent years and many recommendations of the 2003 Financial Sector Assessment Program (FSAP) have been implemented. The GFSC has developed a strategy for addressing banks' financial stability risks, but strong policy measures will be essential to deal with the potential vulnerabilities and challenges ahead.

Subject: Banking, Commercial banks, Financial institutions, Financial sector policy and analysis, Financial services, Insurance, Insurance companies, Stress testing

Keywords: asset quality, bank, banking system, Commercial banks, CR, financial institution, financial system, GFSC, Global, Guernsey bank, Guernsey subsidiary, Insurance, Insurance companies, insurance sector, ISCR, parent bank, parent company, pound sterling, Stress testing

Pages:
48
Volume:
2011
DOI:
https://doi.org/10.5089/9781455213764.002
Issue:
001
Series:
Country Report No. 2011/001
Stock No:
1GGYEA2011001
ISBN:
9781455213764
ISSN:
1934-7685

IMF’s Work

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

Loading component...

IMF Staff Country Reports