{
  "title": "Samoa: Financial Sector Assessment Program-Banking Supervision and Regulation-Technical Note",
  "publication": "IMF Staff Country Reports, August 7, 2015",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/samoa-financial-sector-assessment-program-banking-supervision-and-regulation-technical-note-43187",
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  "summary": "This Technical Note discusses the key findings and recommendations of assessment of Banking Supervision and Regulation for Samoa. Little progress has been achieved toward implementing the recommendations of the 2007 Basel Core Principles for Effective Banking Supervision assessment.",
  "sections": [
    {
      "heading": "Key findings",
      "content": "- Little progress has been achieved toward implementing the recommendations of the 2007 Basel Core Principles for Effective Banking Supervision assessment.\n- Initiatives by the Central Bank of Samoa to address weaknesses in supervision and regulation of domestic banks identified in 2007 were disrupted by:\n  - a series of natural disasters, and\n  - the use of limited supervisory resources on other priorities.\n- Progress was achieved on Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT):\n  - Samoa was upgraded to a “normal reporting\" regime by the Asia Pacific Group on Money Laundering in 2014, from its previous status of \"enhanced reporting.\""
    },
    {
      "heading": "Subject areas and risks highlighted",
      "content": "- Subject coverage: Bank supervision, Basel Core Principles, Commercial banks, Financial institutions, Financial regulation and supervision, Foreign banks, International organization, Monetary policy, Operational risk.\n- Keywords emphasizing vulnerabilities and supervisory focus:\n  - asset quality, bank asset, bank portfolio, bank vulnerability, bank's liquidity profile, Operational risk.\n  - Regional context: Australia and New Zealand; Foreign banks; Bank supervision; Basel Core Principles.\n\n---\n\n Content in this bundle\n\n- cr15230\n  - cr15230 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr15230 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 7, 2015",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513502885.002",
    "Little progress has been achieved toward implementing the recommendations of the 2007 Basel Core Principles for Effective Banking Supervision assessment.",
    "Initiatives by the Central Bank of Samoa to address weaknesses in supervision and regulation of domestic banks identified in 2007 were disrupted by:",
    "Progress was achieved on Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT):",
    "Subject coverage: Bank supervision, Basel Core Principles, Commercial banks, Financial institutions, Financial regulation and supervision, Foreign banks, International organization, Monetary policy, Operational risk.",
    "Keywords emphasizing vulnerabilities and supervisory focus:",
    "**_cr15230**"
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