IMF Staff Country Reports

Cyprus: Assessment of Financial Sector Supervision and Regulation, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Supervision, and Securities Regulation

October 10, 2006

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Cyprus: Assessment of Financial Sector Supervision and Regulation, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Supervision, and Securities Regulation, (USA: International Monetary Fund, 2006) accessed November 25, 2024

Summary

The report summarizes the assessment of Financial Sector Supervision and Regulation on Reports on the Observance of Standards and Codes (ROSC) on banking supervision, insurance supervision, and securities regulation of Cyprus. The report assesses that the financial system in Cyprus is in a process of reform generated by liberalization and regulation owing to accession to the European Union. The paper analyzes competency in the banking sector and technical supervisory rules, and assesses its strengths and vulnerabilities in the implementation of financial standards mainly in cross-border cooperation, information exchange, and consolidated supervision.

Subject: Banking, Commercial banks, Cooperative banks, Financial institutions, Foreign banks, Insurance, Insurance companies

Keywords: Authority, Bank, Commercial banks, Cooperative banks, CR, Cyprus, Eastern Europe, EU accession, EU branch, EU directive, EU entry, EU passport, EU protocol, EU UCITS directive, Firm, Foreign banks, Insurance, Insurance companies, ISCR, National bank, Nonlife company, Securities regulator

Publication Details

  • Pages:

    59

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2006/347

  • Stock No:

    1CYPEA2006001

  • ISBN:

    9781451809879

  • ISSN:

    1934-7685