Portugal: Financial Sector Assessment Program: Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision
IMF Staff Country Reports, January 30, 2007
Source details
- Canonical URL
- Portugal: Financial Sector Assessment Program: Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision
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Bibliographic details
- Published: January 30, 2007
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451832259.002
Overview
- Discusses Portugal's market structure and observance of the Basel Core Principles for Effective Banking Supervision.
- Concludes that Portugal’s regulatory framework is modern and sound, and highly compliant with international standards.
- Notes that the Organic Law (OL) of Banco de Portugal (BdP) provides a clear framework, objectives, and responsibilities for supervision of credit institutions, financial companies, and other entities legally subject to BdP regulation.
- States that the regulatory framework allows authorities to undertake globally consolidated supervision over internationally active banking groups.
Key findings
- Regulatory framework characterized as "modern and sound."
- High compliance with international standards (Basel Core Principles).
- OL of Banco de Portugal (BdP) provides clear supervisory framework and responsibilities.
- Framework enables globally consolidated supervision of internationally active banking groups.
Regulatory framework and supervisory scope
- Banco de Portugal’s Organic Law (OL) sets clear objectives and responsibilities for supervision.
- Supervision covers credit institutions, financial companies, and other entities legally subject to BdP regulation.
- Authorities able to undertake globally consolidated supervision over internationally active banking groups.
Subjects and technical coverage
- Subject areas listed in the source: Banking, Basel Core Principles, Capital adequacy requirements, Credit, Credit risk, Financial regulation and supervision, Internal controls, Money, Revenue administration.
- Keywords preserved as in the source: Asia and Pacific, Basel Core Principles, board of directors, Capital adequacy requirements, capital stock, country risk, CR, Credit, credit institution, credit risk, Credit risk, Eastern Europe, financial condition, Internal controls, ISCR, parent company.
Content in this bundle
- Cr0733