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

March 5, 2024

Preview Citation

Format: Chicago

Botswana: Financial Sector Assessment Program-Detailed Assessment of Observance—Basel Core Principles for Effective Banking Supervision, (USA: International Monetary Fund, 2024) accessed November 21, 2024

Summary

Despite significant progress improving supervisory frameworks since the last assessment in 2007, supervisory powers remain underdeveloped. The current Banking Act was adopted in 1995 and has several deficiencies such as an absence of provisions for consolidated supervision, major acquisitions, and changes in significant shareholding. There is need for a more frequent and comprehensive review of the regulatory framework to ensure they remain relevant to changing industry and regulatory practice. The regulatory framework needs to be updated to align closer with recent Basel norms, guidance, and principles, particularly in the risk management areas specified below. Supervision tools and methodologies and guidance to supervisors need to be augmented as specified below to make supervision more forward-looking and effective. The planned revision of the Banking Act should aim to address gaps and help strengthen powers and support more intrusive supervision.

Subject: Bank risk management, Credit risk, Financial regulation and supervision, International organization, Liquidity risk, Market risk, Monetary policy, Operational risk

Keywords: Amendment Act, Asset liability management committee, Bank risk management, Banking supervision department, Botswana accountancy oversight authority, Credit risk, Global, IMF-World Bank Financial Sector Assessment Program, Liquidity risk, Market risk, Operational risk

Publication Details

Pages:

239
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/062
Stock No:

1BWAEA2024004
ISBN:

9798400269325
ISSN:

1934-7685

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