Turkey: Financial Sector Assessment Program-Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision
IMF Staff Country Reports, February 8, 2017
Source details
- Canonical URL
- Turkey: Financial Sector Assessment Program-Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision
Other formats
Bibliographic details
- Published: February 8, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475576894.002
Assessment overview
- Presents an assessment of observance of Basel Core Principles for Effective Banking Supervision in Turkey.
- Notes that since the previous assessment conducted in 2011, the Banking Regulation and Supervisory Agency has made several significant improvements to its supervisory framework.
Key findings and identified weaknesses
- Legal provisions that undermine supervisory independence need to be addressed.
- Supervisory inspections require a deeper risk assessment focus and improved follow up.
- The forward-looking component of supervisory assessments should be enhanced.
- Risk management and corporate governance requirements need to be streamlined.
- The supervisory enforcement regime requires strengthening.
- Recovery plans should be demanded from banks.
- Group resolution plans need to be developed.
- Capacity to act at an early stage to address unsafe and unsound practices should be increased.
Subject coverage and keywords
- Subjects: Auditing, Banking, Credit, Credit risk, Financial regulation and supervision, Internal audit, Market risk, Money, Public financial management (PFM).
- Keywords: audit committee, Auditing, banking group, board of directors, central bank, CR, Credit, credit risk, Credit risk, Global, internal audit, Internal audit, ISCR, Market risk, risk appetite, risk management, risk profile, senior management.
Content in this bundle
- Country Report