Samoa : Financial Sector Assessment Program : banking resolution, and crisis prevention and management frameworks : technical note /

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Bibliographic Details
Corporate author / creator:	International Monetary Fund, author.
Imprint:	Washington, District of Columbia : International Monetary Fund, 2015. ©2015
Description:	1 online resource (19 pages) : illustrations (some color)
Language:	English
Series:	IMF Staff Country Reports, 1934-7685 IMF Staff Country Reports.
Subject:	International Monetary Fund -- Samoa. International Monetary Fund. Financial crises -- Prevention. Bank failures -- Samoa. Bank failures. Financial crises -- Prevention. Samoa.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12509565

Hidden Bibliographic Details
ISBN:	1513559141 9781513559148 1513500465 9781513500461 1513528645 9781513528649
ISSN:	1934-7685
Digital file characteristics:	data file
Notes:	Online resource; title from PDF copyright page (ebrary, viewed June 15, 2016).
Summary:	This Technical Note discusses key findings of the assessment of Banking Resolution, and Crisis Prevention and Management Frameworks for Samoa. It is recommended that the current regulatory framework to deal with financial institutions (FIs) should be reformed. The Central Bank of Samoa (CBS) has issued "Prudential Statements" containing some prudential rules, ratios, and limits applicable to FIs, but there are no general standards for their enforcement, which is done on a purely discretional case-by-case basis. The powers from the Central Bank Act are not strong enough to enable the CBS to take enforcement actions. A fully amended legal and regulatory banking resolution framework is needed for the CBS to be able to deal effectively with serious banking problems.
Other form:	1513528645
Standard no.:	10.5089/9781513528649.002

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