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Standards and Codes - Implementing the Fund's Medium-Term Strategy and the Recommendations of the 2005 Review of the Initiative

Standards and Codes

Public Information Notice: IMF Executive Board Reviews the Standards and Codes Initiative, August 8, 2005

Public Information Notice: IMF Executive Board Reviews International Standards: Strengthening Surveillance, Domestic Institutions, and International Markets, April 3, 2003

Press Release: IMF Executive Board Approves 12-Month Anti-Money Laundering Pilot Project, November 22, 2002

Policy Papers and Selected News Releases Related to the IMF's Standards Initiative

World Bank ROSCs

See Also:

Financial Sector Assessment Program (FSAP)

Standards and Codes: The Role of the IMF - A Factsheet





Reports on the Observance of Standards and Codes (ROSCs)
Last updated:  Friday, June 21, 2019


ROSCs summarize the extent to which countries observe certain internationally recognized standards and codes. The IMF has recognized 12 areas and associated standards as useful for the operational work of the Fund and the World Bank. These comprise accounting; auditing; anti-money laundering and countering the financing of terrorism (AML/CFT); banking supervision; corporate governance; data dissemination; fiscal transparency; insolvency and creditor rights; insurance supervision; monetary and financial policy transparency; payments systems; and securities regulation; AML/CFT was added in November 2002. Reports summarizing countries' observance of these standards are prepared and published at the request of the member country. They are used to help sharpen the institutions' policy discussions with national authorities, and in the private sector (including by rating agencies) for risk assessment. Short updates are produced regularly and new reports are produced every few years.


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Iceland
Iceland : Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (PDF File :478 KB) July 26, 2007
Iceland: Report on the Observance of Standards and Codes - Data Module, Response by the Authorities, and Detailed Assessments Using the Data Quality Assessment Framework (PDF File :1.23 MB) November 22, 2005

India
India : Report on Observance of Standards and Codes—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (PDF File :622 KB) January 24, 2011
India: Report on Observance of Standards and Codes--Data Module, Response by the Authorities, and Detailed Assessments Using Data Quality Assessment FrameworkResponse by the Authorities, and Detailed Assessments Using Data Quality Assessment Framework (PDF File :1.05 MB) April 2, 2004
Report on the Observance of Standards and Codes: India-- Fiscal Transparency February 23, 2001

Indonesia
Indonesia: Report on the Observance of Standards and Codes-Fiscal Transparency Module-Update (PDF File :346 KB)Update November 29, 2010
Indonesia: Report on Observance of Standards and Codes - Fiscal Transparency Module (PDF File :549 KB) September 26, 2006
Indonesia: Report on the Observance of Standards and Codes - Data Module, Response by the Authorities, and Detailed Assessments Using the Data Quality Assessment Framework (PDF File :928 KB) July 28, 2005

Iran, Islamic Republic of
Islamic Republic of Iran: Report on the Observance of Standards and Codes--Fiscal Transparency Module (PDF File :923 KB) December 10, 2002

Ireland
Ireland: Report on the Observance of Standards and Codes - FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (PDF File :1.42 MB) February 22, 2007
Report on the Observance of Standards and Codes: Ireland -- Banking Supervision February 20, 2001
Report on the Observance of Standards and Codes: Ireland -- Insurance Supervision February 20, 2001
Report on the Observance of Standards and Codes: Ireland -- Transparency of Monetary and Financial Policies February 20, 2001
Report on the Observance of Standards and Codes: Ireland -- Payment Systems February 20, 2001
Report on the Observance of Standards and Codes: Ireland -- Securities Supervision February 20, 2001

Israel
Israel: Report on the Observance of Standards and Codes-Data Module, Response by the Authorities, Detailed Assessments Using the Data Quality Assessment Framework (DQAF) (PDF File :999 KB) March 24, 2006
Israel: Report on the Observance of Standards and Codes--FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (PDF File :422 KB) June 23, 2005
Israel: Report on Observance of Standards and Codes - Fiscal Transparency Module (PDF File :336 KB) April 22, 2004
Israel: Report on the Observance of Standards and Codes--Monetary and Financial Policy Transparency, Banking Supervision, Securities Supervision, and Payment Systems--Update (PDF File :333 KB)Update March 17, 2003
Israel: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency; Banking Supervision, Securities Supervision; and Payment Systems (PDF File :3.83 MB)
Note :Published as part of a Financial System Stability Assessment
August 10, 2001

Italy
Italy: Report on the Observance of Standards and Codes on FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) (PDF File :471 KB) February 10, 2016
Italy: Report on the Observance of Standards and Codes - Data Module, Response by the Authorities, and Detailed Assessment Using the Data Quality Assessment Framework (DQAF) (PDF File :790 KB) February 28, 2007
Italy: Financial System Stability Assessment, including reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Payment Systems, Insurance, Securities Regulation, Securities Settlement and Payment Systems, Monetary and Financial Policy Transparency, and Anti-Money Laundering and Combating the Financing of Terrorism (PDF File :676 KB)
Note :Published as part of a Financial System Stability Assessment
March 14, 2006
Italy: Report on the Observance of Standards and Codes - Fiscal Transparency Module - Update (PDF File :349 KB)Update February 23, 2006
Italy: Report on Observance of Standards and Codes--Fiscal Transparency Module Update (PDF File :107 KB)Update November 13, 2003
Italy: Report on the Observance of Standards and Codes--Data Module, Response by the Authorities, and Detailed Assessments Using the Data Quality Assessment Framework (PDF File :6.65 MB) October 31, 2002
Italy: Report on the Observance of Standards and Codes--Fiscal Transparency Module (PDF File :1.68 MB) October 28, 2002

Data Quality Assessments in Data Module ROSCs

Data Module ROSCs have included a substantial data quality assessment component since early 2001. This assessment is based on the Data Quality Assessment Framework (DQAF). The July 2003 version of the DQAF was introduced at the Fifth Review of the Fund's Data Standards Initiatives. It supersedes earlier versions of the DQAF to reflect experience and developments in international methodological standards and generally accepted good statistical practices. Accordingly, ratings for ROSCs using the July 2003 version of the DQAF are not necessarily directly comparable with ROSCs using earlier versions. The July 2003 version also is now used in Data Module ROSC updates for countries that originally were assessed using earlier versions.