Denmark: Financial Sector Assessment Program: Detailed Assessment of Observance of the Basel Core Principles

March 23, 2007

Preview Citation

Format: Chicago

Denmark: Financial Sector Assessment Program: Detailed Assessment of Observance of the Basel Core Principles, (USA: International Monetary Fund, 2007) accessed November 23, 2024

Summary

This paper discusses key findings of the Detailed Assessment of Observance of the Basel Core Principles for Denmark. The assessment reveals that the basic legal framework is contained in the Financial Business Act (FBA), and in executive orders and explanatory guidelines issued pursuant to the FBA. These provide powers for the Danish Financial Supervisory Authority to supervise all financial institutions. Legal protection for supervisors is currently not provided for in specific legislation but general legislative arrangements ensure that staff is protected against lawsuits while discharging their duties in good faith.

Subject: Bank supervision, Banking, Capital adequacy requirements, Credit, External audit, Financial institutions, Financial regulation and supervision, Foreign banks, Money, Public financial management (PFM)

Keywords: Asset quality, Bank supervision, Banking group, Board of directors, Capital adequacy requirements, CR, Credit, Credit policy, DFSA guideline, DFSA inspector, DFSA responsibility, External audit, Foreign banks, Global, Internal auditor, ISCR, Joint stock, Mortgage bank, Mortgage-credit institution

Publication Details

Pages:

46
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/118
Stock No:

1DNKEA2007003
ISBN:

9781451811155
ISSN:

1934-7685

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