IMF Staff Country Reports

Samoa: Detailed Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision

Publication Date:

June 29, 2007

Electronic Access:

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Summary:

This Detailed Assessment of Compliance with the Basel Core Principles for Samoa highlights general preconditions for effective banking supervision. The Central Bank of Samoa (CBS) should consider introducing some straightforward specific capital charges for market price risk and foreign exchange risk. The CBS should require banks to have in place mechanisms for regularly valuing collateral and assessing the strength of guarantees. Several recommendations to further improve the regulatory role of the CBS in accordance with current international standards have been noted and future efforts shall focus on incorporating and developing these as appropriate.

Series:

Country Report No. 2007/222

Subject:

Banking Basel Core Principles Capital adequacy requirements Financial institutions Financial regulation and supervision Foreign banks Internal controls International banking Market risk Revenue administration