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

_IMF Staff Country Reports, August 12, 2020_

## Source details

**Canonical URL:** [Denmark: Financial Sector Assessment Program-Technical Note-Banking Regulation and Supervision](https://www.imf.org/en/publications/cr/issues/2020/08/07/denmark-financial-sector-assessment-program-technical-note-banking-regulation-and-supervision-49661)

## Other formats

- [Markdown version](/en/publications/cr/issues/2020/08/07/denmark-financial-sector-assessment-program-technical-note-banking-regulation-and-supervision-49661/index.md)
- [Structured JSON version](/en/publications/cr/issues/2020/08/07/denmark-financial-sector-assessment-program-technical-note-banking-regulation-and-supervision-49661/index.json)
- [Bundle manifest](/en/publications/cr/issues/2020/08/07/denmark-financial-sector-assessment-program-technical-note-banking-regulation-and-supervision-49661/bundle-manifest.json)

## Bibliographic details
- Published: August 12, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513553016.002

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### Executive summary and context
- 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.

### Key findings
- Oversight improvements:
  - The Danish Financial Supervisory Authority (DFSA) has improved standards in its oversight of banking and insurance sectors since the last FSAP.
- Persisting risks:
  - Risks persist in traditional forms.
  - Emerging/new areas of risk include cyber risk, AML, and innovative market entrants.

### Analysis and implications
- Supervisory priorities:
  - The TN focuses on vulnerabilities and policy frameworks relevant to Denmark’s banking and insurance oversight.
  - The note addresses supervisory challenges linked to both longstanding and emerging risks.
- Regulatory trajectory:
  - There is an expectation that international supervisory standards will continue to rise, implying ongoing adaptation needs for national supervisors and regulated entities.

### Subjects and keywords (as listed)
- Subjects:
  - Anti-money laundering and combating the financing of terrorism (AML/CFT)
  - Bank supervision
  - Banking
  - Crime
  - External audit
  - Financial regulation and supervision
  - Financial Sector Assessment Program
  - Financial sector policy and analysis
  - Operational risk
  - Public financial management (PFM)
- Keywords:
  - Anti-money laundering and combating the financing of terrorism (AML/CFT)
  - Baltics
  - Bank supervision
  - corporate governance
  - covered bond
  - CR
  - External audit
  - Financial Sector Assessment Program
  - Global
  - internal audit
  - ISCR
  - Operational risk
  - places importance
  - risk assessment
  - risk management
  - short term
  - supervisory mandate

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## Content in this bundle

- **Executive Summary**
  - [Executive Summary (Markdown version)](/-/media/files/publications/cr/2020/english/1dnkea2020002.pdf.md){rel="alternate" type="text/markdown"}
  - [Executive Summary (PDF)](/-/media/files/publications/cr/2020/english/1dnkea2020002.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2020/08/07/denmark-financial-sector-assessment-program-technical-note-banking-regulation-and-supervision-49661_