Republic of Lithuania: Financial Sector Assessment Program Update-Technical Note-Basel Core Principles of Effective Banking Supervision Assessment
Volume/Issue:
Volume 2008
Issue 246
Publication date: July 2008
ISBN: 9781451824209
$20.00
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Topics covered in this book
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Business and Economics , Law , Banks and Banking , Finance , ISCR , CR , BoL staff , parent bank , licensing regime , validation process , IRB model , managing board , Lithuanian bank , bank share , Basel Core Principles , Bank legislation , Bank supervision , Capital adequacy requirements , Operational risk
Summary
This Technical Note presents a targeted review and a follow-up on the implementation of the recommendations of the 2002 assessment of Lithuania’s compliance with the Basel Core Principles for Effective Banking Supervision. It was found that banking supervision arrangements in Lithuania were of a high standard and either fully or largely complied with the Core Principles. On one Core Principle, Lithuania was judged to be noncompliant at that time, which concerned the lack of explicit legal protection for Bank of Lithuania board members and supervisory staff.
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