Peru: Financial Sector Assessment Program-Detailed Assessment of Observance - Basel Core Principles for Effective Banking Supervision
IMF Staff Country Reports, December 14, 2018
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- Peru: Financial Sector Assessment Program-Detailed Assessment of Observance - Basel Core Principles for Effective Banking Supervision
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Bibliographic details
- Published: December 14, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484390139.002
Summary findings
- The overall quality of Peru’s supervisory approach and regulation of the banking sector is strong.
- Some areas for enhancement remain.
- A key area that needs strengthening relates to the powers and regulatory framework for consolidated and cross-border supervision.
- The FSAP undertook a full graded Basel Core Principles (BCP) assessment of the essential criteria.
- The current assessment shows that the SBS has maintained and further enhanced its regulatory and supervisory framework.
Assessment history and comparative outcome
- The 2011 BCP update assessment found that bank regulation and supervision was of high quality and no principles were scored non-compliant or materially non-compliant.
- The current assessment (publication date: December 14, 2018) represents a full graded BCP assessment of the essential criteria and confirms continued high-quality regulation and supervision.
Major thematic coverage
- Corporate governance
- Credit risk
- Liquidity risk
- Market risk
- Operational risk
- Financial regulation and supervision
- Monetary policy
- Economic sectors
- International organization implications
- Senior management and business strategy considerations
- Country risk and the broader financial system
Key takeaways for policy and supervision
- Maintain and build on existing regulatory and supervisory strengths demonstrated by the SBS.
- Strengthen powers and the regulatory framework for consolidated supervision.
- Strengthen powers and the regulatory framework for cross-border supervision.
- Continue applying full graded BCP assessments to monitor compliance with essential criteria and to identify areas for enhancement.
Source: Peru: Financial Sector Assessment Program-Detailed Assessment of Observance - Basel Core Principles for Effective Banking Supervision (December 14, 2018).
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- Country Report