Republic of Serbia: Financial Sector Assessment Program Update: Detailed Assessment of Basel Core Principles for Effective Banking Supervision
IMF Staff Country Reports, May 27, 2010
Source details
- Canonical URL
- Republic of Serbia: Financial Sector Assessment Program Update: Detailed Assessment of Basel Core Principles for Effective Banking Supervision
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Bibliographic details
- Published: May 27, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455205646.002
Summary and key findings
- The Detailed Assessment of Basel Core Principles (BCPs) for Effective Banking Supervision on the Republic of Serbia finds that Serbia has made considerable progress toward enhanced compliance with the BCPs and with international standards.
- A major overhaul of the legal framework—the enactment of the new laws on banks in 2005 and the issuance of new regulations—has provided the basis for this improvement.
- Improvements are reflected in upgraded scores for a considerable number of BCPs.
Legal and regulatory reforms
- Enactment of new laws on banks in 2005.
- Issuance of new regulations by relevant authorities (as summarized in the assessment).
Compliance, supervision, and risk areas covered
- The assessment addresses Serbia’s compliance with the Basel Core Principles for Effective Banking Supervision and international standards related to:
- Bank legislation
- Bank supervision
- Banking
- Basel Core Principles
- Financial regulation and supervision
- Market risk
- Operational risk
Identified institutional elements and supervisory capacities (as noted in the assessment)
- References to the National Bank of Serbia (NBS) responsibilities, including:
- NBS give priority
- NBS inspector
- NBS issues regulation
- NBS management
- NBS regulation
- NBS staff
- NBS-staff members
- Risk and reporting topics noted in the assessment:
- Market risk
- Operational risk
- parent bank
- reporting requirements
- requirements NBS monitors banks' exposure
- risk profile
- country risk, CR, credit risk, ISCR, interest rate