Turkey: Financial Sector Assessment Program-Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision

February 8, 2017

Preview Citation

Format: Chicago

Turkey: Financial Sector Assessment Program-Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision, (USA: International Monetary Fund, 2017) accessed December 21, 2024

Summary

This paper presents an assessment of observance of Basel Core Principles for Effective Banking Supervision in Turkey. Since the previous assessment conducted in 2011, the Banking Regulation and Supervisory Agency has made several significant improvements to its supervisory framework. There are areas that still warrant improvement, including addressing legal provisions that undermines supervisory independence, providing a deeper risk assessment focus to supervisory inspections and follow up, enhancing the forward-looking component of the assessments, streamlining risk management and corporate governance requirements, strengthening the supervisory enforcement regime, demanding recovery plans, developing group resolution plans, and increasing the ability to act at an early stage to address unsafe and unsound practices.

Subject: Auditing, Banking, Credit, Credit risk, Financial regulation and supervision, Internal audit, Market risk, Money, Public financial management (PFM)

Keywords: Audit committee, Auditing, Banking group, Board of directors, Central bank, CR, Credit, Credit risk, Credit risk, Global, Internal audit, Internal audit, ISCR, Market risk, Risk appetite, Risk management, Risk profile, Senior management

Publication Details

Pages:

249
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/046
Stock No:

1TUREA2017005
ISBN:

9781475576894
ISSN:

1934-7685

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