Euro Area Policies: Financial Sector Assessment Program-Technical Note-Detailed Assessment of Observance of Basel Core Principles for Effective Banking Supervision
IMF Staff Country Reports, July 19, 2018
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- Euro Area Policies: Financial Sector Assessment Program-Technical Note-Detailed Assessment of Observance of Basel Core Principles for Effective Banking Supervision
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Bibliographic details
- Published: July 19, 2018
- Series: IMF Staff Country Reports
Executive summary and key findings
- The SSM (SSM) has made a solid start.
- Set up a little over three years ago, the SSM has developed into a coherent banking supervision mechanism operating across the 19 Euro Area Member States.
- Banking supervision at the European Central Bank (ECB) is underpinned by a clear mandate and independence from government or industry interference in individual supervisory decisions.
- The SSM has a well-defined supervisory methodology and processes, complemented by committed staff.
- These attributes have laid the foundations for more forward-looking, pre-emptive, and evenhanded supervision.
- The assessment concludes this is a noteworthy achievement for the Euro Area.
Scope, subjects, and keywords
- Subject: Bank supervision, Banking, Credit, Credit risk, Financial regulation and supervision, Market risk, Money, Operational risk
- Keywords: Bank supervision, business strategy, central bank, CR, CRD IV, Credit, credit institution, Credit risk, ECB banking supervision, financial market, Global, ISCR, management body, Market risk, Operational risk, risk management, risk profile, senior management
Publication metadata and statistics
- Publication date: July 19, 2018
- Pages: 342
- Country Report No.: 2018/233
- Stock No.: 1EUREA2018010
- ISBN: 9781484369715
- ISSN: 1934-7685
Implications and areas of focus implied by the assessment
- Institutional design: The clear mandate and independence of ECB banking supervision are central to credible, evenhanded supervisory outcomes.
- Methodology and processes: Continued development and consistent application of the well-defined supervisory methodology are critical to sustaining forward-looking and pre-emptive supervision.
- Human resources: Committed staff are a key element supporting effective supervision across multiple jurisdictions.
- Cross-border coordination: Operating across the 19 Euro Area Member States requires robust mechanisms for coordination and consistency in supervisory decisions.
International Monetary Fund. Euro Area Policies: Financial Sector Assessment Program-Technical Note-Detailed Assessment of Observance of Basel Core Principles for Effective Banking Supervision (July 19, 2018). Country Report No. 2018/233.
Content in this bundle
- Country Report