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Notwithstanding the ongoing intensive policy dialogue with the membership during the COVID-19 pandemic, there is growing need for resuming Article IV consultations and mandatory Financial Stability Assessments (FSAs). However, the resumption of Article IV consultations over the coming months will need to be gradual, remain focused on the crisis and related challenges, and be undertaken flexibly. Staff recommends a further extension of consultation cycles to accommodate the gradual nature of the restart. Staff also recommends that the application of the framework to address excessive delays in the completion of Article IV consultations and mandatory FSAs be temporarily suspended.

Finance --- Finance: General --- Financial Sector Assessment Program --- Financial services industry --- Financial stability assessment --- General Financial Markets: Government Policy and Regulation

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The IEO report provides a welcome opportunity to reflect on the IMF’s initiatives to expand and deepen its financial surveillance work in response to the Global Financial Crisis. In order to improve the relevance and traction of bilateral financial surveillance, the IMF needs to deepen financial and macrofinancial analysis, particularly in Article IV consultations, including by taking practical steps to better integrate Financial Sector Assessment Program analysis in Article IV consultations and by increasing financial skills and expertise among staff. The IMF should continue to work to enhance the impact of IMF multilateral surveillance by increasing rigor and transparency, and by deepening collaboration with international partners. On scaling-up the IMF’s work with the international regulatory agencies to assess the impact of reforms, the IMF has undertaken several assessments of different aspects of the reforms following the 2012 Financial Surveillance Strategy. Some of these have been conducted jointly with the Standard Setting Bodies.

Finance: General --- Macroeconomics --- Financial Markets and the Macroeconomy --- General Financial Markets: Government Policy and Regulation --- Financial Institutions and Services: Government Policy and Regulation --- Finance --- Macrofinancial analysis --- Financial Sector Assessment Program --- Stress testing --- Financial services industry --- Financial risk management

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This Technical Note examines aspects of the banking supervision regime in Luxembourg. Significant progress has been made in relation to the recommendations made in the 2011 Financial Sector Assessment Program. The Finance Ministry is no longer responsible for the granting or revocation of banking licenses, the Commission for the Supervision of the Financial Sector (CSSF) is no longer charged with promoting industry, resources have increased substantially, and there has been a significant increase in the implementation of sanctioning powers. There still exists potential for government or industry interference in the operational independence of the CSSF. The frequency of on-site inspections of Luxembourg subsidiaries of significant institutions is also on the low side.

Financial Sector Assessment Program. --- Luxembourg. --- Banks and Banking --- Finance: General --- Industries: Financial Services --- Public Finance --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- General Financial Markets: Government Policy and Regulation --- Financial Institutions and Services: Government Policy and Regulation --- Debt --- Debt Management --- Sovereign Debt --- Financing Policy --- Financial Risk and Risk Management --- Capital and Ownership Structure --- Value of Firms --- Goodwill --- Banking --- Finance --- Financial services law & regulation --- Public finance & taxation --- Mutual funds --- Bank supervision --- Basel Core Principles --- Financial Sector Assessment Program --- Financial institutions --- Financial regulation and supervision --- Public debt --- Market risk --- Banks and banking --- State supervision --- Financial services industry --- Debts, Public --- Financial risk management --- Luxembourg

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A banking system module is incorporated into the Central Bank of Barbados's multisectoral macroeconomic forecasting model, and a medium-term forecast is generated for bank capitalization, profitability, liquidity and nonperforming loans. Stress tests are performed for the first year of the forecast, to test the banking system's resilience to real sector shocks. The analysis, which would in practice be only part of the vulnerability assessment, indicates that the banking system is stable and resilient to macroeconomic shocks of a type and magnitude that Barbados has experienced in the past.

Banks and banking -- Barbados. --- Electronic books. -- local. --- Finance -- Barbados. --- Banks and Banking --- Finance: General --- Industries: Financial Services --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- General Financial Markets: Government Policy and Regulation --- Banking --- Finance --- Loans --- Nonperforming loans --- Commercial banks --- Financial Sector Assessment Program --- Banks and banking --- Financial services industry --- Barbados

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This report evaluates the Observance of Standards and Codes on data dissemination, fiscal transparency, the transparency of monetary policy, banking supervision, and securities market regulation for Tunisia. The assessment reveals that Tunisia has already achieved a considerable degree of transparency in fiscal management. Further improvements in data preparation and dissemination have come about recently during the process of subscribing to the Special Data Dissemination Standards. In addition, the implementation of the new tax code (code des procedures fiscales) has further clarified the rights and obligations of taxpayers and the government on matters relating to taxation.

Budgeting --- Finance: General --- National Budget --- Budget Systems --- General Financial Markets: Government Policy and Regulation --- Budgeting & financial management --- Finance --- Budget planning and preparation --- Fiscal transparency --- Financial Sector Assessment Program --- Public financial management (PFM) --- Financial sector policy and analysis --- Budget --- Financial services industry --- Tunisia