{
  "title": "Guernsey: Financial Sector Assessment Program Update-Detailed Assessment of Observance on Basel Core Principles",
  "publication": "IMF Staff Country Reports, January 14, 2011",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/guernsey-financial-sector-assessment-program-update-detailed-assessment-of-observance-on-24544",
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  "summary": "The Basel Core Principles for Effective Banking Supervision (BCP) assessment confirms the high standard of prudential regulation and supervision described in the 2003 assessment, and found that the issues identified have largely been addressed.",
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      "heading": "Summary findings",
      "content": "- The Basel Core Principles for Effective Banking Supervision (BCP) assessment confirms the high standard of prudential regulation and supervision described in the 2003 assessment.\n- The assessment found that the issues identified in the 2003 assessment have largely been addressed.\n- The Guernsey Financial Services Commission (GFSC) is the integrated regulator responsible for the regulation and supervision of all financial institutions and services provided on the island.\n- As the banking supervisor, the GFSC has disciplinary powers to address safety and soundness issues.\n- The GFSC cooperates with the home supervisors of institutions active on the island.\n- Several broad areas for further action have been identified."
    },
    {
      "heading": "Key topics and scope",
      "content": "- Subjects covered: Bank supervision; Banking; Credit; Financial regulation and supervision; Financial services; Market risk; Money; Operational risk.\n- Keywords (as provided): Bank supervision; banking licence; board of directors; business plan; capital base; corporate governance; CR; Credit; GFSC staff; Global; holding company; interest rate; internal audit; ISCR; Market risk; Operational risk; risk assessment; risk management; senior management.\n\n---\n\n Content in this bundle\n\n- Cr1103\n  - Cr1103 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Cr1103 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: January 14, 2011",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781455213740.002",
    "The Basel Core Principles for Effective Banking Supervision (BCP) assessment confirms the high standard of prudential regulation and supervision described in the 2003 assessment.",
    "The assessment found that the issues identified in the 2003 assessment have largely been addressed.",
    "The Guernsey Financial Services Commission (GFSC) is the integrated regulator responsible for the regulation and supervision of all financial institutions and services provided on the island.",
    "As the banking supervisor, the GFSC has disciplinary powers to address safety and soundness issues.",
    "The GFSC cooperates with the home supervisors of institutions active on the island.",
    "Several broad areas for further action have been identified.",
    "Subjects covered: Bank supervision; Banking; Credit; Financial regulation and supervision; Financial services; Market risk; Money; Operational risk.",
    "Keywords (as provided): Bank supervision; banking licence; board of directors; business plan; capital base; corporate governance; CR; Credit; GFSC staff; Global; holding company; interest rate; internal audit; ISCR; Market risk; Operational risk; risk assessment; risk management; senior management.",
    "**Cr1103**"
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