El Salvador: Detailed Assessment of Compliance of the Basel Core Principles for Effective Banking Supervision

February 11, 2014

Preview Citation

Format: Chicago

El Salvador: Detailed Assessment of Compliance of the Basel Core Principles for Effective Banking Supervision, (USA: International Monetary Fund, 2014) accessed December 26, 2024

Summary

This paper presents an assessment of compliance with the Basel Core Principles for Effective Banking Supervision in El Salvador. The regulatory authority Superintendencia del Sistema Financiero (SSF) has taken a number of initiatives to strengthen and upgrade supervision. This includes, among others, a risk unit with specialized expertise and continued efforts to foster cross-border cooperation and coordination. Despite considerable efforts, for the SSF is commended for its efforts, the lack of regulation in practically all risk categories is a major impediment to further progress. The lack of standards in those areas, combined with severe shortcomings in legal protection and deficiencies in the remedial action framework for addressing minor transgressions, limits the SSF’s ability to address imprudent behavior by banks.

Subject: Bank legislation, Banking, Credit risk, Financial institutions, Financial regulation and supervision, Loans, Market risk, Operational risk

Keywords: Bank Law, Bank legislation, Banking group, Central America, Central bank, CR, Credit risk, Financial system, Global, Interest rate, Internal audit, ISCR, Loans, Market risk, Market risk, Operational risk, Risk management, SSF staff

Publication Details

Pages:

66
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/045
Stock No:

1SLVEA2014002
ISBN:

9781475554465
ISSN:

1934-7685

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