Publication: Slovenia : Consolidated Risk Based Supervision
Loading...
Published
2007-07
ISSN
Date
2013-03-27
Author(s)
Editor(s)
Abstract
This Technical Note, of an informal nature, summarizes our recommendations based on the current scope of discussions with supervisors of BoS in charge of supervising the Target Group, including several meetings organized by the latter with management of the parent bank. The Note is organized in three sections. The first section includes a summary of our main recommendations. The second section presents a few strategic issues we noted, which may be of interest to BoS going forward as it implements risk based supervision. The third and last section proposes a series of elements to continue the supervision of the Target Group going forward, including how to assess internal governance in a practical manner. Given the depth of issues involved, and that in internal governance the importance is in the details, on purpose this Technical Note is long in providing detailed recommendations on how to implement consolidated risk based supervision.
Link to Data Set
Citation
“Gutierrez Garcia, Joaquin. 2007. Slovenia : Consolidated Risk Based Supervision. © World Bank. http://hdl.handle.net/10986/12992 License: CC BY 3.0 IGO.”
Digital Object Identifier
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections
Related items
Showing items related by metadata.
Publication Bosnia and Herzegovina(World Bank, Washington, DC, 2015-06)This Technical Note was prepared by IMF and WB staff in the context of the Financial Sector Assessment Program in Bosnia and Herzegovina, and overseen by the Monetary and Capital Markets Department, IMF, and the Financial and Private Sector Development Vice Presidency, World Bank. It contains technical analysis and detailed information underpinning the FSAP’s findings and recommendations. A review of supervisory practices was conducted to assess progress towards implementation of the Basel Committee Core Principles for Effective Banking Supervision. The system of banking supervision oversight has significantly improved since the last review in 2006, but shortcomings remain.Publication Slovenia Report on the Observance of Standards and Codes(World Bank, Washington, DC, 2014-05)This assessment of accounting and auditing practices in Slovenia is part of a joint initiative of the World Bank and International Monetary Fund (IMF) to prepare Reports on the Observance of Standards and Codes (ROSC). The assessment focuses on the strengths and weaknesses of the accounting and auditing environment that influence the quality of corporate financial reporting and includes a review of both mandatory requirements and actual practice. This is the second A&A ROSC for Slovenia and based on information collected in 2013, early 2014. The first one was published in 2004. As the requirements of the EU acquis communautaire and international standards have already been adopted in the financial sector this assessment focuses on the proper application of these requirements, with the view that improved financial information raises the capacity of regulators to maintain financial stability, and improve the level of trust in the financial system, in the context of an ongoing recapitalization exercise. In the State Owned Enterprises, or SOEs, the report focuses on the requirements applicable to them and how well these are enforced, as well as to what extent the government uses the financial reporting and audit process to monitor SOEs and hold their management teams accountable. This report also considers SMEs financial reporting, including how current requirements compare with the latest revisions to the EU Accounting Directive, which further simplified requirements for smaller companies. Finally, audit oversight and quality assurance systems are assessed, including the feasibility of incorporating the audit oversight body as part of the financial sector supervisor.Publication Montenegro Financial Sector Assessment Program(World Bank, Washington, DC, 2016-03)This technical note discusses the current status of banking supervision and regulation in Montenegro in the context of select Basel Core Principles (BCP). This note has been prepared as part of a Financial Sector Assessment Program (FSAP) update conducted jointly by the International Monetary Fund (IMF) and World Bank (WB) in September 2015. As agreed with the authorities, the FSAP teaPublication South Africa - Report on Observance of Standards and Codes : Banking Supervision, Insurance Supervision, and Securities Regulation(Washington, DC, 2010-10)This assessment found South Africa s regulatory system to be fundamentally sound and compliant with international standards. Banking supervision has been effective and has helped limit the impact on the financial sector of the global financial crisis. The assessment recommended that the bank registrar s remedial powers for addressing problems in banks should be strengthened and that a specific regulation for dealing with country and transfer risk be introduced.The FSB is also undertaking a study of the OTC market. Limited progress has been made by the Department of Trade and Industry (DTI) to implement significant amendments to the Companies Act that were enacted in 2007 and in 2009. If progress continues to lag, consideration should be given to reassigning responsibility for these functions to the Financial Services Board (FSB).Publication Republic of Korea Financial Sector Assessment Program : Detailed Assessment of Observance - Basel Core Principles folr Effective Banking Supervision(World Bank, Washington, DC, 2014-09)This assessment of the current state of the implementation of the Basel core principles for effective banking supervision (BCP) in the Republic of Korea has been completed as part of a financial sector assessment program (FSAP) update undertaken by the international monetary fund (IMF) and the World Bank (WB) during 2013. It reflects the regulatory and supervisory framework in place as of the date of the completion of the assessment. An assessment of the effectiveness of banking supervision requires a review of the legal framework, and detailed examination of the policies and practices of the institution(s) responsible for banking regulation and supervision. In line with the BCP methodology, the assessment focused on the financial services commission - financial supervisory authority (FSC-FSS). This FSAP provides introduction; information and methodology used for assessment; institutional and macroeconomic setting and market structure - overview; preconditions for effective banking supervision; summary compliance with the Basel core principles; and detailed assessment.
Users also downloaded
Showing related downloaded files
Publication Future of Food(World Bank, Washington, DC, 2019-04)Digital technologies have significant potential to improve efficiency, equity, and environmental sustainability in the food system. A range of digital technologies are already leading to: better informed and engaged consumers and producers, smarter farms, and improved public services. Adoption of digital technologies varies significantly across countries, with lower current adoption rates in low-income countries. Increasing adoption will require addressing supply-side factors, such as rural network coverage and availability of digital applications, and demand-side factors, including skills and knowledge, trust, affordability, and complementary investments. While digital technologies have significant potential they also pose several risks that need to be addressed including: an overconcentration of service provider market power; lack of data privacy; exclusion; and cybersecurity breaches. These risks cut across all segments of the economy, including the food system. In addition, digital technologies should not be viewed as a panacea. Other investments are needed to address the multiple constraints farmers face and to realize the potential benefits of digital technologies.Publication Digital Africa(Washington, DC: World Bank, 2023-03-13)All African countries need better and more jobs for their growing populations. "Digital Africa: Technological Transformation for Jobs" shows that broader use of productivity-enhancing, digital technologies by enterprises and households is imperative to generate such jobs, including for lower-skilled people. At the same time, it can support not only countries’ short-term objective of postpandemic economic recovery but also their vision of economic transformation with more inclusive growth. These outcomes are not automatic, however. Mobile internet availability has increased throughout the continent in recent years, but Africa’s uptake gap is the highest in the world. Areas with at least 3G mobile internet service now cover 84 percent of Africa’s population, but only 22 percent uses such services. And the average African business lags in the use of smartphones and computers as well as more sophisticated digital technologies that catalyze further productivity gains. Two issues explain the usage gap: affordability of these new technologies and willingness to use them. For the 40 percent of Africans below the extreme poverty line, mobile data plans alone would cost one-third of their incomes—in addition to the price of access devices, apps, and electricity. Data plans for small- and medium-size businesses are also more expensive than in other regions. Moreover, shortcomings in the quality of internet services—and in the supply of attractive, skills-appropriate apps that promote entrepreneurship and raise earnings—dampen people’s willingness to use them. For those countries already using these technologies, the development payoffs are significant. New empirical studies for this report add to the rapidly growing evidence that mobile internet availability directly raises enterprise productivity, increases jobs, and reduces poverty throughout Africa. To realize these and other benefits more widely, Africa’s countries must implement complementary and mutually reinforcing policies to strengthen both consumers’ ability to pay and willingness to use digital technologies. These interventions must prioritize productive use to generate large numbers of inclusive jobs in a region poised to benefit from a massive, youthful workforce—one projected to become the world’s largest by the end of this century.Publication Pension Risk and Risk-Based Supervision in Defined Contribution Pension Funds(World Bank, Washington, DC, 2014-03)Defined contribution pension systems have faced criticism in the wake of the financial and economic crisis for not delivering adequate and sustainable pension incomes at retirement. Much of the problem has centered around the misalignment of pension fund management companies and the interests of pension fund members, with the focus on short-term volatility rather than delivering adequate pension income over the long term. Although pension fund supervisors in emerging economies have attempted to correct for these market failures, they have not focused sufficiently on the ultimate long-term pension income objective. The paper suggests that in order to have a meaningful impact on future pensions, the supervision of defined contribution pension systems needs to take a more proactive role in minimizing pension risk. This objective would require ensuring that investment risks are aligned with the probability of achieving a target pension at retirement age. The paper also suggests that a proper institutional design of the pension fund industry and intensive use of market surveillance are efficient tools for dealing with most of the operational risks of funded pension fund schemes in emerging economies.Publication Promoting Development in Shared River Basins(World Bank, Washington, DC, 2018-03)Transboundary freshwater systems create inevitable linkages and interdependencies between countries. The use of shared water resources by one country will, in most cases, impact other countries sharing the same system. At the same time, coordination among countries in the development of transboundary basins can yield greater benefits than would be available to individual countries pursuing individual development. UN Sustainable Development Goal 6 Target 5 recognizes this potential, calling on the world community to implement integrated water resources management at all levels, ‘including through transboundary cooperation as appropriate’. With a growing number of basins in which water use and demand permanently or temporarily exceeds the amount of renewable water available, and uncertainty from climate change, SDG Target 6.5 becomes increasingly relevant to development interventions designed to secure availability of supplies and create resilience. This is a companion document to the study "Promoting Development in Shared River Basins: Tools for Enhancing Transboundary Basin Management," which aims to contribute to relevant knowledge for achieving SDG Target 6.5. It presents six case studies from international experience on coordinated management in transboundary basins: Kura-Araks Basin; Columbia Basin; Chu and Talas Basins; Vuoksi Basin; Douro Basin; and Rhône Basin. The case studies demonstrate real-world application of selecting appropriate tools for individual transboundary situations along a three-stage process of coordinated basin development, which is detailed in the main study.Publication Outcomes and Risk Based Supervision in Pensions(World Bank, Washington, DC, 2016-06)This report illustrates a new methodology to develop an Outcomes and Risk Based Supervision (ORBS) framework for funded pensions with a case study of Costa Rica. The approach was used in a FIRST1 funded project in Costa Rica with the regulator and supervisor of pensions SUPEN. The intention is to highlight an approach that may be useful in the region, and globally, to help agencies responsible for private pensions to focus on the long run outcomes they are seeking to achieve, identify the risks to these outcomes and implement the most effective solutions to these risks. This is all done through a consistent framework that embeds the long run outcomes at the heart of the process, and so lends itself naturally to the greater focus on results, and Monitoring and Evaluation that are central to modern development projects. The focus on Costa Rica also helps illustrate the approach in a country that has not typically been used as a case study. This helps to broaden the range of case studies available for practitioners and expands the possibilities for ‘South-South’ learning. It also shows how the approach can be tailored to the specific characteristics of a country. The report starts with a description of the Costa Rican pension system. This provides the context for the case study. It helps to illustrate the variety of defined benefit and defined contribution pensions that needed to be covered. It also identifies the wide range of different institutions involved in delivering good pension outcomes, and hence the ‘eco-system’ in which the supervisor needs to operate effectively to improve outcomes for the benefits of pension savers in Costa Rica.