Republic of Armenia: Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision

February 5, 2019

Preview Citation

Format: Chicago

Republic of Armenia: Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision, (USA: International Monetary Fund, 2019) accessed November 8, 2024

Summary

This detailed assessment of observance has been conducted against the standard issued by the Basel Committee on Banking Supervision in 2012. The report also highlights that the Central Bank of Armenia has made significant progress in its approach to banking supervision with adoption of the risk-based program (RBS) framework and addressing gaps in the regulatory framework identified in the 2012 Basel Core Principles assessment. Improvements have been made in the regulatory regime regarding requirements for risk management, stress testing, corporate governance, country risk and consolidated supervision. Although the supervisory regime has recently transitioned from a rules-based to an RBS, there is a need for continued refinement of the program for more granular assessments of firms’ capital needs. The process for conducting risk assessments of each firm has identified a need for building a stronger and more structured (system-wide) understanding of the level and magnitude of risk and the risk management capabilities across banking firms.

Subject: Bank risk management, Bank supervision, Banking, Credit risk, Financial regulation and supervision, Financial sector policy and analysis, Market risk, Operational risk, Stress testing

Keywords: Bank risk management, Bank supervision, Bank's Board, Business plan, Central bank, Corporate culture, CR, Credit risk, Credit risk, Global, Internal audit, ISCR, Market risk, Risk appetite, Risk management, Risk profile, Senior management, Stress testing

Publication Details

Pages:

141
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/042
Stock No:

1ARMEA2019003
ISBN:

9781484397848
ISSN:

1934-7685

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