Cyprus: Financial Sector Assessment Program Update: Technical Note: Factual Update on Basel Core Principles for Effective Banking Supervision (Central Bank of Cyprus)

June 1, 2009

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Cyprus: Financial Sector Assessment Program Update: Technical Note: Factual Update on Basel Core Principles for Effective Banking Supervision (Central Bank of Cyprus), (USA: International Monetary Fund, 2009) accessed November 21, 2024

Summary

This technical note examines Cyprus’s factual update on the Basel Core Principles for Effective Banking Supervision for Cyprus. The 2006 directive on corporate governance provides that each commercial credit institution should have a robust internal governance framework. Although the level of activities of banks in Cyprus that can generate market risk remains low, the Central Bank of Cyprus issued bank guidelines on the management of market risk that include provisions on scenario analysis, stress testing, and contingency planning, as appropriate.

Subject: Bank regulation, Bank supervision, Banking, Basel Core Principles, Financial regulation and supervision, Market risk, Operational risk

Keywords: Bank regulation, Bank supervision, Banks management, Basel Core Principles, CBC guideline, CBC Law, CBC policy, CBC requirement, CR, Cyprus, Eastern Europe, ISCR, Licensing regime, Market, Market risk, Operational risk, Southern Europe

Publication Details

Pages:

18
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/167
Stock No:

1CYPEA2009001
ISBN:

9781451809923
ISSN:

1934-7685

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