{
  "title": "Denmark: Financial Sector Assessment Program-Technical Note-Banking Regulation and Supervision",
  "publication": "IMF Staff Country Reports, August 12, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/08/07/denmark-financial-sector-assessment-program-technical-note-banking-regulation-and-supervision-49661",
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  "summary": "COVID-19 pandemic: The Financial Sector Assessment Program (FSAP) work was conducted prior to the COVID-19 pandemic, so this Technical Note (TN) does not assess the impact of the crisis or the recent crisis-related policy measures.",
  "sections": [
    {
      "heading": "Executive summary and context",
      "content": "- COVID-19 pandemic: The Financial Sector Assessment Program (FSAP) work was conducted prior to the COVID-19 pandemic, so this Technical Note (TN) does not assess the impact of the crisis or the recent crisis-related policy measures.\n- Relevance: Given the FSAP’s focus on vulnerabilities and policy frameworks, the findings and recommendations of the TN remain pertinent despite being completed before the COVID-19 pandemic.\n- Scope: The note selects topics to meet evolving supervisory challenges and reflects the expectation that international supervisory standards will continue to rise."
    },
    {
      "heading": "Key findings",
      "content": "- Oversight improvements:\n  - The Danish Financial Supervisory Authority (DFSA) has improved standards in its oversight of banking and insurance sectors since the last FSAP.\n- Persisting risks:\n  - Risks persist in traditional forms.\n  - Emerging/new areas of risk include cyber risk, AML, and innovative market entrants."
    },
    {
      "heading": "Analysis and implications",
      "content": "- Supervisory priorities:\n  - The TN focuses on vulnerabilities and policy frameworks relevant to Denmark’s banking and insurance oversight.\n  - The note addresses supervisory challenges linked to both longstanding and emerging risks.\n- Regulatory trajectory:\n  - There is an expectation that international supervisory standards will continue to rise, implying ongoing adaptation needs for national supervisors and regulated entities."
    },
    {
      "heading": "Subjects and keywords (as listed)",
      "content": "- Subjects:\n  - Anti-money laundering and combating the financing of terrorism (AML/CFT)\n  - Bank supervision\n  - Banking\n  - Crime\n  - External audit\n  - Financial regulation and supervision\n  - Financial Sector Assessment Program\n  - Financial sector policy and analysis\n  - Operational risk\n  - Public financial management (PFM)\n- Keywords:\n  - Anti-money laundering and combating the financing of terrorism (AML/CFT)\n  - Baltics\n  - Bank supervision\n  - corporate governance\n  - covered bond\n  - CR\n  - External audit\n  - Financial Sector Assessment Program\n  - Global\n  - internal audit\n  - ISCR\n  - Operational risk\n  - places importance\n  - risk assessment\n  - risk management\n  - short term\n  - supervisory mandate\n\n---\n\n Content in this bundle\n\n- Executive Summary\n  - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
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    "Published: August 12, 2020",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513553016.002",
    "COVID-19 pandemic: The Financial Sector Assessment Program (FSAP) work was conducted prior to the COVID-19 pandemic, so this Technical Note (TN) does not assess the impact of the crisis or the recent crisis-related policy measures.",
    "Relevance: Given the FSAP’s focus on vulnerabilities and policy frameworks, the findings and recommendations of the TN remain pertinent despite being completed before the COVID-19 pandemic.",
    "Scope: The note selects topics to meet evolving supervisory challenges and reflects the expectation that international supervisory standards will continue to rise.",
    "Oversight improvements:",
    "Persisting risks:",
    "Supervisory priorities:",
    "Regulatory trajectory:",
    "Subjects:",
    "Keywords:",
    "**Executive Summary**"
  ],
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