## Samoa: Financial Sector Assessment Program-Banking Supervision and Regulation-Technical Note

_IMF Staff Country Reports, August 7, 2015_

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**Canonical URL:** [Samoa: Financial Sector Assessment Program-Banking Supervision and Regulation-Technical Note](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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## Bibliographic details
- Published: August 7, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513502885.002

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### Key findings
- 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:
  - a series of natural disasters, and
  - the use of limited supervisory resources on other priorities.
- Progress was achieved on Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT):
  - 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."

### Subject areas and risks highlighted
- 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:
  - asset quality, bank asset, bank portfolio, bank vulnerability, bank's liquidity profile, Operational risk.
  - Regional context: Australia and New Zealand; Foreign banks; Bank supervision; Basel Core Principles.

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/samoa-financial-sector-assessment-program-banking-supervision-and-regulation-technical-note-43187_