## Past IMF Staff Assessments on Offshore Financial Centers (OFCs) ## Source details **Canonical URL:** [Past IMF Staff Assessments on Offshore Financial Centers (OFCs)](https://www.imf.org/en/publications/ofca-by-jurisdiction) ## Other formats - [Markdown version](/en/publications/ofca-by-jurisdiction/index.md) - [Structured JSON version](/en/publications/ofca-by-jurisdiction/index.json) - [Bundle manifest](/en/publications/ofca-by-jurisdiction/bundle-manifest.json) --- ### Program overview and history - The Offshore Financial Center (OFC) assessment program was inaugurated in 2000. - The program "helped to strengthen regulation and supervision, and to improve compliance with supervisory standards in offshore jurisdictions." - Publication and progress reporting milestones include several program progress reports and information notes issued between 2001 and 2008. - Last Update: October 03, 2019. ### IMF Executive Board decision to integrate the OFC program with the FSAP (May 30, 2008) - On May 30, 2008, the Executive Board of the International Monetary Fund (IMF) agreed to integrate the OFC assessment program with the Financial Sector Assessment Program (FSAP). - Since 2008, the IMF has not used or maintained the list of Offshore Financial Centers. - The integration aims explicitly to: - (i) facilitate a more uniform and risk-based approach to financial sector surveillance and improve coordination of Fund analysis across jurisdictions; - (ii) provide for a better allocation of Fund resources, with a specific focus on the small number of OFCs that account for the overwhelming volume of offshore activity and could be expected to pose major financial system risks; and - (iii) eliminate the need to maintain a potentially discriminatory list of OFC jurisdictions. ### Program effects and policy rationale - The OFC assessment program contributed to strengthening regulation and supervision and improving observance of supervisory standards in offshore jurisdictions. - The integration with the FSAP intended to: - improve uniformity and risk orientation in surveillance; - concentrate Fund resources on OFCs with the greatest offshore activity and potential systemic risk; - remove the practice of maintaining a discrete OFC list to avoid potential discrimination. ### Administrative and documentary notes - The webpage lists OFC assessments conducted prior to the 2008 Board decision to integrate the OFC assessment program with the FSAP. - For further information on the OFC assessment program and the 2008 proposal for integration with the FSAP, the IMF provides a detailed report and supplementary information. --- ## Content in this bundle - **Offshore Financial Centers -- The Assessment Program — A Progress Report February 8, 2006** - [Offshore Financial Centers -- The Assessment Program — A Progress Report February 8, 2006 (Markdown version)](/-/media/files/publications/ofca/english/020806.pdf.md){rel="alternate" type="text/markdown"} - [Offshore Financial Centers -- The Assessment Program — A Progress Report February 8, 2006 (PDF)](/-/media/files/publications/ofca/english/020806.pdf){rel="external" type="application/pdf"} - **Status of IMF Second-Phase Offshore Financial Center Assessments** - [Status of IMF Second-Phase Offshore Financial Center Assessments (Markdown version)](/-/media/files/publications/ofca/english/050808.pdf.md){rel="alternate" type="text/markdown"} - [Status of IMF Second-Phase Offshore Financial Center Assessments (PDF)](/-/media/files/publications/ofca/english/050808.pdf){rel="external" type="application/pdf"} - **050808a** - [050808a (Markdown version)](/-/media/files/publications/ofca/english/050808a.pdf.md){rel="alternate" type="text/markdown"} - [050808a (PDF)](/-/media/files/publications/ofca/english/050808a.pdf){rel="external" type="application/pdf"} - [Offshore Financial Center Assessment (PDF)](/-/media/files/publications/ofca/english/063002.pdf){rel="external" type="application/pdf"} - **Cyprus -- Assessment of the Offshore Financial Sector** - [Cyprus -- Assessment of the Offshore Financial Sector (Markdown version)](/-/media/files/publications/ofca/english/073001.pdf.md){rel="alternate" type="text/markdown"} - [Cyprus -- Assessment of the Offshore Financial Sector (PDF)](/-/media/files/publications/ofca/english/073001.pdf){rel="external" type="application/pdf"} - **073001a** - [073001a (Markdown version)](/-/media/files/publications/ofca/english/073001a.pdf.md){rel="alternate" type="text/markdown"} - [073001a (PDF)](/-/media/files/publications/ofca/english/073001a.pdf){rel="external" type="application/pdf"} - **Banking Sector Assessment, August 2001** - [Banking Sector Assessment, August 2001 (Markdown version)](/-/media/files/publications/ofca/english/083101.pdf.md){rel="alternate" type="text/markdown"} - [Banking Sector Assessment, August 2001 (PDF)](/-/media/files/publications/ofca/english/083101.pdf){rel="external" type="application/pdf"} - **Assessment of the Supervision and Regulation of the Financial Sector** - [Assessment of the Supervision and Regulation of the Financial Sector (Markdown version)](/-/media/files/publications/ofca/english/083102.pdf.md){rel="alternate" type="text/markdown"} - [Assessment of the Supervision and Regulation of the Financial Sector (PDF)](/-/media/files/publications/ofca/english/083102.pdf){rel="external" type="application/pdf"} - **Gibraltar -- Assessment of the Regulation and Supervision of Financial Services** - [Gibraltar -- Assessment of the Regulation and Supervision of Financial Services (Markdown version)](/-/media/files/publications/ofca/english/103101.pdf.md){rel="alternate" type="text/markdown"} - [Gibraltar -- Assessment of the Regulation and Supervision of Financial Services (PDF)](/-/media/files/publications/ofca/english/103101.pdf){rel="external" type="application/pdf"} - **Cr03253** - [Cr03253 (Markdown version)](/-/media/files/publications/ofca/english/cr03253.pdf.md){rel="alternate" type="text/markdown"} - [Cr03253 (PDF)](/-/media/files/publications/ofca/english/cr03253.pdf){rel="external" type="application/pdf"} - **Detailed Assessment with Compliance with the Basel Core Principles—Domestic Banks** - [Detailed Assessment with Compliance with the Basel Core Principles—Domestic Banks (Markdown version)](/-/media/files/publications/ofca/english/cr03254.pdf.md){rel="alternate" type="text/markdown"} - [Detailed Assessment with Compliance with the Basel Core Principles—Domestic Banks (PDF)](/-/media/files/publications/ofca/english/cr03254.pdf){rel="external" type="application/pdf"} - **Offshore Financial Centers Assessment Report for the Principality of Monaco** - [Offshore Financial Centers Assessment Report for the Principality of Monaco (Markdown version)](/-/media/files/publications/ofca/english/cr03262.pdf.md){rel="alternate" type="text/markdown"} - [Offshore Financial Centers Assessment Report for the Principality of Monaco (PDF)](/-/media/files/publications/ofca/english/cr03262.pdf){rel="external" type="application/pdf"} - **The detailed assessments in this volume of the Offshore Financial Center Assessment of Monaco** - [The detailed assessments in this volume of the Offshore Financial Center Assessment of Monaco (Markdown version)](/-/media/files/publications/ofca/english/cr03263.pdf.md){rel="alternate" type="text/markdown"} - [The detailed assessments in this volume of the Offshore Financial Center Assessment of Monaco (PDF)](/-/media/files/publications/ofca/english/cr03263.pdf){rel="external" type="application/pdf"} - **Cr03289** - [Cr03289 (Markdown version)](/-/media/files/publications/ofca/english/cr03289.pdf.md){rel="alternate" type="text/markdown"} - [Cr03289 (PDF)](/-/media/files/publications/ofca/english/cr03289.pdf){rel="external" type="application/pdf"} - **Detailed Assessment of Compliance of the Basel Core Principles** - [Detailed Assessment of Compliance of the Basel Core Principles (Markdown version)](/-/media/files/publications/ofca/english/cr03290.pdf.md){rel="alternate" type="text/markdown"} - [Detailed Assessment of Compliance of the Basel Core Principles (PDF)](/-/media/files/publications/ofca/english/cr03290.pdf){rel="external" type="application/pdf"} - **IMF Module 2 assessment of the Bailiwick of Guernsey — Executive Summary** - [IMF Module 2 assessment of the Bailiwick of Guernsey — Executive Summary (Markdown version)](/-/media/files/publications/ofca/english/cr03364.pdf.md){rel="alternate" type="text/markdown"} - [IMF Module 2 assessment of the Bailiwick of Guernsey — Executive Summary (PDF)](/-/media/files/publications/ofca/english/cr03364.pdf){rel="external" type="application/pdf"} - **Detailed Assessment of Compliance with International Standards** - [Detailed Assessment of Compliance with International Standards (Markdown version)](/-/media/files/publications/ofca/english/cr03365.pdf.md){rel="alternate" type="text/markdown"} - [Detailed Assessment of Compliance with International Standards (PDF)](/-/media/files/publications/ofca/english/cr03365.pdf){rel="external" type="application/pdf"} - **cr03366 - Preface** - [cr03366 - Preface (Markdown version)](/-/media/files/publications/ofca/english/cr03366.pdf.md){rel="alternate" type="text/markdown"} - [cr03366 - Preface (PDF)](/-/media/files/publications/ofca/english/cr03366.pdf){rel="external" type="application/pdf"} - **Cr03367** - [Cr03367 (Markdown version)](/-/media/files/publications/ofca/english/cr03367.pdf.md){rel="alternate" type="text/markdown"} - [Cr03367 (PDF)](/-/media/files/publications/ofca/english/cr03367.pdf){rel="external" type="application/pdf"} - **IMF assessment of Jersey** - [IMF assessment of Jersey (Markdown version)](/-/media/files/publications/ofca/english/cr03368.pdf.md){rel="alternate" type="text/markdown"} - [IMF assessment of Jersey (PDF)](/-/media/files/publications/ofca/english/cr03368.pdf){rel="external" type="application/pdf"} - **Detailed Assessment of Jersey’s Financial Supervision** - [Detailed Assessment of Jersey’s Financial Supervision (Markdown version)](/-/media/files/publications/ofca/english/cr03369.pdf.md){rel="alternate" type="text/markdown"} - [Detailed Assessment of Jersey’s Financial Supervision (PDF)](/-/media/files/publications/ofca/english/cr03369.pdf){rel="external" type="application/pdf"} - **Anguilla -- Review of Financial Sector Regulation and Supervision, October 2003** - [Anguilla -- Review of Financial Sector Regulation and Supervision, October 2003 (Markdown version)](/-/media/files/publications/ofca/english/cr03370.pdf.md){rel="alternate" type="text/markdown"} - [Anguilla -- Review of Financial Sector Regulation and Supervision, October 2003 (PDF)](/-/media/files/publications/ofca/english/cr03370.pdf){rel="external" type="application/pdf"} - **Assessment of the Supervision and Regulation of the Financial Sector** - [Assessment of the Supervision and Regulation of the Financial Sector (Markdown version)](/-/media/files/publications/ofca/english/cr03371.pdf.md){rel="alternate" type="text/markdown"} - [Assessment of the Supervision and Regulation of the Financial Sector (PDF)](/-/media/files/publications/ofca/english/cr03371.pdf){rel="external" type="application/pdf"} - **Cr04169** - [Cr04169 (Markdown version)](/-/media/files/publications/ofca/english/cr04169.pdf.md){rel="alternate" type="text/markdown"} - [Cr04169 (PDF)](/-/media/files/publications/ofca/english/cr04169.pdf){rel="external" type="application/pdf"} - **Part 1: Assessing the AML/CFT in the legal and institutional framework** - [Part 1: Assessing the AML/CFT in the legal and institutional framework (Markdown version)](/-/media/files/publications/ofca/english/cr04170.pdf.md){rel="alternate" type="text/markdown"} - [Part 1: Assessing the AML/CFT in the legal and institutional framework (PDF)](/-/media/files/publications/ofca/english/cr04170.pdf){rel="external" type="application/pdf"} - **Assessment of the Supervision and Regulation of the Financial Sector** - [Assessment of the Supervision and Regulation of the Financial Sector (Markdown version)](/-/media/files/publications/ofca/english/cr04171.pdf.md){rel="alternate" type="text/markdown"} - [Assessment of the Supervision and Regulation of the Financial Sector (PDF)](/-/media/files/publications/ofca/english/cr04171.pdf){rel="external" type="application/pdf"} - **cr04271 — IMF Module II offshore financial center assessment of the Netherlands Antilles** - [cr04271 — IMF Module II offshore financial center assessment of the Netherlands Antilles (Markdown version)](/-/media/files/publications/ofca/english/cr04271.pdf.md){rel="alternate" type="text/markdown"} - [cr04271 — IMF Module II offshore financial center assessment of the Netherlands Antilles (PDF)](/-/media/files/publications/ofca/english/cr04271.pdf){rel="external" type="application/pdf"} - **Cr04272** - [Cr04272 (Markdown version)](/-/media/files/publications/ofca/english/cr04272.pdf.md){rel="alternate" type="text/markdown"} - [Cr04272 (PDF)](/-/media/files/publications/ofca/english/cr04272.pdf){rel="external" type="application/pdf"} - **Cr04318** - [Cr04318 (Markdown version)](/-/media/files/publications/ofca/english/cr04318.pdf.md){rel="alternate" type="text/markdown"} - [Cr04318 (PDF)](/-/media/files/publications/ofca/english/cr04318.pdf){rel="external" type="application/pdf"} - **cr04373 - Preface** - [cr04373 - Preface (Markdown version)](/-/media/files/publications/ofca/english/cr04373.pdf.md){rel="alternate" type="text/markdown"} - [cr04373 - Preface (PDF)](/-/media/files/publications/ofca/english/cr04373.pdf){rel="external" type="application/pdf"} - **Cr04381** - [Cr04381 (Markdown version)](/-/media/files/publications/ofca/english/cr04381.pdf.md){rel="alternate" type="text/markdown"} - [Cr04381 (PDF)](/-/media/files/publications/ofca/english/cr04381.pdf){rel="external" type="application/pdf"} - **Cr04391** - [Cr04391 (Markdown version)](/-/media/files/publications/ofca/english/cr04391.pdf.md){rel="alternate" type="text/markdown"} - [Cr04391 (PDF)](/-/media/files/publications/ofca/english/cr04391.pdf){rel="external" type="application/pdf"} - **Offshore Financial Center Assessment Report for the Cook Islands — Preface and Key Findings** - [Offshore Financial Center Assessment Report for the Cook Islands — Preface and Key Findings (Markdown version)](/-/media/files/publications/ofca/english/cr04413.pdf.md){rel="alternate" type="text/markdown"} - [Offshore Financial Center Assessment Report for the Cook Islands — Preface and Key Findings (PDF)](/-/media/files/publications/ofca/english/cr04413.pdf){rel="external" type="application/pdf"} - **Detailed Assessment of Compliance of the Basel Core Principles** - [Detailed Assessment of Compliance of the Basel Core Principles (Markdown version)](/-/media/files/publications/ofca/english/cr04414.pdf.md){rel="alternate" type="text/markdown"} - [Detailed Assessment of Compliance of the Basel Core Principles (PDF)](/-/media/files/publications/ofca/english/cr04414.pdf){rel="external" type="application/pdf"} - **Cr0492** - [Cr0492 (Markdown version)](/-/media/files/publications/ofca/english/cr0492.pdf.md){rel="alternate" type="text/markdown"} - [Cr0492 (PDF)](/-/media/files/publications/ofca/english/cr0492.pdf){rel="external" type="application/pdf"} - **1. Banking System** - [1. Banking System (Markdown version)](/-/media/files/publications/ofca/english/cr0493.pdf.md){rel="alternate" type="text/markdown"} - [1. Banking System (PDF)](/-/media/files/publications/ofca/english/cr0493.pdf){rel="external" type="application/pdf"} - **cr0524 - Preface** - [cr0524 - Preface (Markdown version)](/-/media/files/publications/ofca/english/cr0524.pdf.md){rel="alternate" type="text/markdown"} - [cr0524 - Preface (PDF)](/-/media/files/publications/ofca/english/cr0524.pdf){rel="external" type="application/pdf"} - **cr0591 - Preface** - [cr0591 - Preface (Markdown version)](/-/media/files/publications/ofca/english/cr0591.pdf.md){rel="alternate" type="text/markdown"} - [cr0591 - Preface (PDF)](/-/media/files/publications/ofca/english/cr0591.pdf){rel="external" type="application/pdf"} - **Cr0592** - [Cr0592 (Markdown version)](/-/media/files/publications/ofca/english/cr0592.pdf.md){rel="alternate" type="text/markdown"} - [Cr0592 (PDF)](/-/media/files/publications/ofca/english/cr0592.pdf){rel="external" type="application/pdf"} - **Offshore Financial Centers Assessment Report for Bermuda** - [Offshore Financial Centers Assessment Report for Bermuda (Markdown version)](/-/media/files/publications/ofca/english/cr0598.pdf.md){rel="alternate" type="text/markdown"} - [Offshore Financial Centers Assessment Report for Bermuda (PDF)](/-/media/files/publications/ofca/english/cr0598.pdf){rel="external" type="application/pdf"} - **Detailed Assessment of Compliance of the Basel Core Principles** - [Detailed Assessment of Compliance of the Basel Core Principles (Markdown version)](/-/media/files/publications/ofca/english/cr0599.pdf.md){rel="alternate" type="text/markdown"} - [Detailed Assessment of Compliance of the Basel Core Principles (PDF)](/-/media/files/publications/ofca/english/cr0599.pdf){rel="external" type="application/pdf"} - **Cr06347** - [Cr06347 (Markdown version)](/-/media/files/publications/ofca/english/cr06347.pdf.md){rel="alternate" type="text/markdown"} - [Cr06347 (PDF)](/-/media/files/publications/ofca/english/cr06347.pdf){rel="external" type="application/pdf"} - **Cr06376** - [Cr06376 (Markdown version)](/-/media/files/publications/ofca/english/cr06376.pdf.md){rel="alternate" type="text/markdown"} - [Cr06376 (PDF)](/-/media/files/publications/ofca/english/cr06376.pdf){rel="external" type="application/pdf"} - **Executive Summary** - [Executive Summary (Markdown version)](/-/media/files/publications/ofca/english/cr07154.pdf.md){rel="alternate" type="text/markdown"} - [Executive Summary (PDF)](/-/media/files/publications/ofca/english/cr07154.pdf){rel="external" type="application/pdf"} - **Detailed Assessment Report of Observance of the Basel Core Principles** - [Detailed Assessment Report of Observance of the Basel Core Principles (Markdown version)](/-/media/files/publications/ofca/english/cr07155.pdf.md){rel="alternate" type="text/markdown"} - [Detailed Assessment Report of Observance of the Basel Core Principles (PDF)](/-/media/files/publications/ofca/english/cr07155.pdf){rel="external" type="application/pdf"} - **Detailed Assessment Report of Observance of the Insurance Core Principles** - [Detailed Assessment Report of Observance of the Insurance Core Principles (Markdown version)](/-/media/files/publications/ofca/english/cr07156.pdf.md){rel="alternate" type="text/markdown"} - [Detailed Assessment Report of Observance of the Insurance Core Principles (PDF)](/-/media/files/publications/ofca/english/cr07156.pdf){rel="external" type="application/pdf"} - **Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism** - [Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism (Markdown version)](/-/media/files/publications/ofca/english/cr07157.pdf.md){rel="alternate" type="text/markdown"} - [Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism (PDF)](/-/media/files/publications/ofca/english/cr07157.pdf){rel="external" type="application/pdf"} - **Cr07221** - [Cr07221 (Markdown version)](/-/media/files/publications/ofca/english/cr07221.pdf.md){rel="alternate" type="text/markdown"} - [Cr07221 (PDF)](/-/media/files/publications/ofca/english/cr07221.pdf){rel="external" type="application/pdf"} - **Detailed Assessment of Compliance with the Basel Core Principles** - [Detailed Assessment of Compliance with the Basel Core Principles (Markdown version)](/-/media/files/publications/ofca/english/cr07222.pdf.md){rel="alternate" type="text/markdown"} - [Detailed Assessment of Compliance with the Basel Core Principles (PDF)](/-/media/files/publications/ofca/english/cr07222.pdf){rel="external" type="application/pdf"} - **Cr0766** - [Cr0766 (Markdown version)](/-/media/files/publications/ofca/english/cr0766.pdf.md){rel="alternate" type="text/markdown"} - [Cr0766 (PDF)](/-/media/files/publications/ofca/english/cr0766.pdf){rel="external" type="application/pdf"} - **Cr0767** - [Cr0767 (Markdown version)](/-/media/files/publications/ofca/english/cr0767.pdf.md){rel="alternate" type="text/markdown"} - [Cr0767 (PDF)](/-/media/files/publications/ofca/english/cr0767.pdf){rel="external" type="application/pdf"} - **Appendix II — Report on the Observance of Standards and Codes** - [Appendix II — Report on the Observance of Standards and Codes (Markdown version)](/-/media/files/publications/ofca/english/cr0769.pdf.md){rel="alternate" type="text/markdown"} - [Appendix II — Report on the Observance of Standards and Codes (PDF)](/-/media/files/publications/ofca/english/cr0769.pdf){rel="external" type="application/pdf"} - **Assessment of the Supervision and Regulation of the Financial Sector** - [Assessment of the Supervision and Regulation of the Financial Sector (Markdown version)](/-/media/files/publications/ofca/english/cr08336.pdf.md){rel="alternate" type="text/markdown"} - [Assessment of the Supervision and Regulation of the Financial Sector (PDF)](/-/media/files/publications/ofca/english/cr08336.pdf){rel="external" type="application/pdf"} --- ## References - [By Date](https://www.imf.org/en/publications/ofca-by-date) - [the Executive Board of the International Monetary Fund (IMF) agreed to integrate the offshore financial center (OFC) assessment program](https://www.imf.org/en/News/Articles/2015/09/28/04/53/pn0882) _Source: https://www.imf.org/en/publications/ofca-by-jurisdiction_