Guernsey

Guernsey

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The Basel Core Principles for Effective Banking Supervision (BCP) assessment confirms the high standard of prudential regulation and supervision described in the 2003 assessment, and found that the issues identified have largely been addressed. The Guernsey Financial Services Commission (GFSC), being the integrated regulator, is responsible for the regulation and supervision of all financial institutions and services provided on the island, and as the banking supervisor, has disciplinary powers to address safety and soundness issues. The GFSC cooperates with the home supervisors of institutions active on the island. Several broad areas for further action have been identified.Credit risk is assessed periodically during on-site credit reviews of banks. The Commission obtains in particular documents to review before on-site visits on the banka#39;s policy on large exposures, credit procedures manual as well as the latest anbsp;...


Title:Guernsey
Author: International Monetary Fund
Publisher:International Monetary Fund - 2011-01-14
ISBN-13:

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