Cyprus: Financial Sector Assessment Program Update: Technical Note: Factual Update on Basel Core Principles for Effective Banking Supervision (Central Bank of Cyprus)
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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.
Series:
Country Report No. 2009/167
Subject:
Bank regulation Bank supervision Banking Basel Core Principles Financial regulation and supervision Market risk Operational risk
English
Publication Date:
June 1, 2009
ISBN/ISSN:
9781451809923/1934-7685
Stock No:
1CYPEA2009001
Pages:
18
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