## Germany: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Securities Regulation, Insurance Regulation, Monetary and Financial Policy Transparency, Payment Systems, and Securities Settlement

_IMF Staff Country Reports, November 6, 2003_

## Source details

**Canonical URL:** [Germany: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Securities Regulation, Insurance Regulation, Monetary and Financial Policy Transparency, Payment Systems, and Securities Settlement](https://www.imf.org/en/publications/cr/issues/2016/12/30/germany-financial-system-stability-assessment-including-reports-on-the-observance-of-16998)

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## Bibliographic details
- Published: November 6, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451810486.002

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### Summary findings
- The German financial system is "complex and highly diversified."
- The second most important class of financial institutions is "insurance and pension companies."
- The German banking system is resilient, but "relevant indicators show some deterioration."
- The main vulnerability in the insurance industry is "pressure on capital ratios and risk-bearing capacity from the poor performance of investment portfolios."
- "Securities regulation is of a high standard."

### Financial system structure and participants
- Insurance and pension companies are the second most important class of financial institutions.
- The system is characterized as complex and highly diversified.

### Banking sector assessment
- Assessment: resilient overall.
- Caveat: relevant indicators show some deterioration.

### Insurance sector assessment
- Main vulnerability: pressure on capital ratios and risk-bearing capacity from the poor performance of investment portfolios.
- Applies to "all sectors of the insurance industry."

### Governance, accounting, and auditing
- Germany has taken steps to enhance accounting and auditing practices.
- Germany has taken steps to align corporate governance with best international practices.

### Regulatory quality
- Securities regulation is of a high standard.

### Publication metadata (as presented on the page)
- Publication type: IMF Staff Country Reports
- Date shown on page: November 6, 2003
- Pages: 60
- Volume: 2003
- Issue: 343
- Series: Country Report No. 2003/343
- ISBN: 9781451810486
- ISSN: 1934-7685
- DOI: https://doi.org/10.5089/9781451810486.002

*Source: Germany: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes ..., November 6, 2003.*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/germany-financial-system-stability-assessment-including-reports-on-the-observance-of-16998_