As for the banking sector, the FSAP
elaborates that despite economic and political shocks, "confidence in the banking sector has been sustained .
The Reserve Bank and other New Zealand authorities strongly support the FSAP
as a means of promoting and improving both the quality of financial sector regulation and the outcomes that this regulation seeks to achieve.
In the field of practice, this article describes the FSAP
pressure test system, based on the FSAP
pressure test system, and then introduces the more mature TD and SRM system:
New Zealand authorities will consider and respond to the results of the FSAP
to help ensure that the current regulatory framework is making the best possible contribution to New Zealand's economic welfare.
regulatory system is fast approaching and coordination and collaboration among the players will be essential to a successful FSAP
review for the United States, particularly regarding new ICP 23 Group Supervision requirements.
The implementation of the FSAP
was finished in 2004.
He added that FSAP
was an international evaluation exercise.
Nevertheless, the FSAP
assessment emphasises that the job is not yet finished, and that there is critical work still to be done.
The purpose of an FSAP
is to assess the strengths and weaknesses of member country financial sectors and to assess the challenges facing their financial systems.
In line with the FSAP
recommendations, most directors urged Japan to redouble efforts to ''tackle decisively the problems in banks and insurance companies'' burdened with a mountain of bad loans.
draws heavily on peer review and expertise, involving experts from some fifty institutions, including central banks, supervisory agencies, and other institutions and standard-setting bodies.
Earlier this month, Japan's Financial Services Minister Hakuo Yanagisawa said the IMF mission for the FSAP
arrived in Japan in June and began work on the evaluation.