Treasury, Financial System Supervisors and Regulators Issue Financial Sector Self-Assessment Reviews

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8/28/2014

 

WASHINGTON – Starting today, the U.S. Department of the Treasury will begin publishing key documents for the 2015 U.S. Financial Sector Assessment Program (FSAP) review.  

The FSAP is a joint IMF-World Bank program that began in 1999 following the financial crisis in Asia. The FSAP provides an integrated analysis of financial stability and development issues, and generally includes financial sector analysis, stress testing, and an assessment of the observance and implementation of international standards and codes.

Twenty-nine major jurisdictions selected by the IMF undergo an FSAP review every five years.  Like other Financial Stability Board members, the U.S. has committed to publishing FSAP documents. The review will conclude in 2015.

The first set of documents includes financial sector “self-assessments,” which review U.S. observance and compliance with three international standards and core principles:

 

  • Core Principles for Effective Banking Supervision issued by the Basel Committee on Banking Supervision;
  • Insurance Core Principles issued by the International Association of Insurance Supervisors; and
  • Objectives and Principles of Securities Regulation issued by the International Organization of Securities Commissions

 

The new banking and insurance self-assessments are now available on the Treasury website at:

http://www.treasury.gov/resource-center/international/Pages/us-fsap.aspx.  To be notified of future postings of documents, click on the webpage’s “Subscribe to Updates” icon and register your email address.

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