{
  "title": "Use of Supervisory Standards in the Financial Sector Assessment Program—Understandings with Standard Setting Bodies",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2017/07/20/pp060817use-of-supervisory-standards-in-fsap",
  "canonical": "https://www.imf.org/en/publications/policy-papers/issues/2017/07/20/pp060817use-of-supervisory-standards-in-fsap",
  "overlayPath": "/en/publications/policy-papers/issues/2017/07/20/pp060817use-of-supervisory-standards-in-fsap/index.md",
  "summary": "<p>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nb",
  "sections": [
    {
      "heading": "Purpose and scope",
      "content": "- Informs the Executive Board of the staff-level understandings reached with global Standard Setting Bodies (SSBs) on the use of the three financial sector supervisory standards in FSAPs.\n- The three supervisory standards covered:\n  - the Basel Committee’s Core Principles for Effective Banking Supervision (BCP), set by the Basel Committee on Banking Supervision (BCBS);\n  - the Insurance Core Principles (ICP), set by the International Association of Insurance Supervisors (IAIS); and\n  - the Objectives and Principles of Securities Regulation (Principles), set by the International Organization of Securities Commissions (IOSCO)."
    },
    {
      "heading": "Approach to assessments",
      "content": "- Graded assessments of compliance with supervisory standards are voluntary.\n- FSAPs have adopted a flexible approach to the use of supervisory standards:\n  - A standard is either assessed in full, resulting in grades, or\n  - Used as the basis for a deeper analysis of selected elements of the oversight framework in a focused review, without grades.\n- The SSBs and Fund staff have reached understandings on a refinement of the existing flexible approach, with sets of “base principles” serving as the starting points for focused reviews."
    },
    {
      "heading": "Key facts and metadata",
      "content": "- Publication date: July 20, 2017\n- Accessed: 9/19/2026\n\nUse of Supervisory Standards in the Financial Sector Assessment Program—Understandings with Standard Setting Bodies, (USA: International Monetary Fund, ) accessed 9/19/2026\n\n---\n\n Content in this bundle\n\n- Policy Paper\n  - Policy Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Policy Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2017/07/20/pp060817use-of-supervisory-standards-in-fsap"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/policy-papers/issues/2017/07/20/pp060817use-of-supervisory-standards-in-fsap/index.md)",
    "[Structured JSON version](/en/publications/policy-papers/issues/2017/07/20/pp060817use-of-supervisory-standards-in-fsap/index.json)",
    "[Bundle manifest](/en/publications/policy-papers/issues/2017/07/20/pp060817use-of-supervisory-standards-in-fsap/bundle-manifest.json)",
    "Published: July 20, 2017",
    "Informs the Executive Board of the staff-level understandings reached with global Standard Setting Bodies (SSBs) on the use of the three financial sector supervisory standards in FSAPs.",
    "The three supervisory standards covered:",
    "Graded assessments of compliance with supervisory standards are voluntary.",
    "FSAPs have adopted a flexible approach to the use of supervisory standards:",
    "The SSBs and Fund staff have reached understandings on a refinement of the existing flexible approach, with sets of “base principles” serving as the starting points for focused reviews.",
    "Publication date: July 20, 2017",
    "Accessed: 9/19/2026",
    "**Policy Paper**"
  ],
  "related": [
    {
      "title": "Policy Paper",
      "role": "paper",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/pp/2017/pp060817useofsupervisorystandarsfsap.pdf",
      "summary": {
        "path": "/-/media/files/publications/pp/2017/pp060817useofsupervisorystandarsfsap.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/pp/2017/pp060817useofsupervisorystandarsfsap.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/policy-papers/issues/2017/07/20/pp060817use-of-supervisory-standards-in-fsap/index.md",
    "json": "/en/publications/policy-papers/issues/2017/07/20/pp060817use-of-supervisory-standards-in-fsap/index.json",
    "bundleManifest": "/en/publications/policy-papers/issues/2017/07/20/pp060817use-of-supervisory-standards-in-fsap/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-19T00:29:10.864Z"
}