Isle of Man: Financial Sector Assessment Program Update: Financial System Stability Assessment
IMF Staff Country Reports, September 10, 2009
Source details
- Canonical URL
- Isle of Man: Financial Sector Assessment Program Update: Financial System Stability Assessment
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Bibliographic details
- Published: September 10, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451818475.002
Summary
- This paper presents the Financial System Stability Assessment Report on the Isle of Man (IOM).
- Financial sector regulation and supervision are generally of a high standard, and supervisory efforts are concentrated in those areas most relevant to the activities of financial institutions on the IOM.
- The Financial Supervision Commission (FSC) faces a conundrum because the major banks are subsidiaries of large international financial groups, to which they provide financing.
- The FSC is reconsidering to balance prudential requirements for liquidity and exposure to related parties against business needs that entail high exposures to the parent.
Key findings
- Financial sector regulation and supervision on the IOM are generally of a high standard.
- Supervisory efforts are focused on areas most relevant to the activities of local financial institutions.
- Major banks on the IOM are subsidiaries of large international financial groups and provide financing to their parent groups, creating supervisory tension.
Supervisory challenge and policy considerations
- Central supervisory conundrum:
- Major banks are subsidiaries of large international financial groups.
- These subsidiaries provide financing to their parent organizations, resulting in high exposures to related parties.
- Policy stance highlighted:
- The FSC is reconsidering how to balance prudential requirements for liquidity and exposure to related parties against business needs that entail high exposures to the parent.
Publication and metadata
- Publication title: Isle of Man: Financial Sector Assessment Program Update: Financial System Stability Assessment
- Date: September 10, 2009
- Series: IMF Staff Country Reports 2009, 275 (2009)
- Pages: 72
- Volume: 2009
- Issue: 275
- DOI: https://doi.org/10.5089/9781451818475.002
- Stock No: 1IMNEA2009002
- ISBN: 9781451818475
- ISSN: 1934-7685
- Subjects: Banking, Commercial banks, Financial institutions, Financial Sector Assessment Program, Financial services, Insurance, Insurance companies, Loans
- Keywords: bank, Commercial banks, coverage ratio, CR, deposit, firm, Global, Insurance, Insurance companies, IOM authority, ISCR, Loans, market, parent bank, return on equity, risk shock
Isle of Man: Financial Sector Assessment Program Update: Financial System Stability Assessment, IMF Staff Country Reports 2009, 275 (2009), September 10, 2009.
Content in this bundle
- ISLE OF MAN — Financial System Stability Assessment Update