By continuing your visit to this site, you accept the use of cookies. These ensure the smooth running of our services. Learn more.


IMF Executive Board Integrates the Offshore Financial Center Assessment Program with the FSAP

the Executive Board of the International Monetary Fund (IMF) agreed to integrate the offshore financial center (OFC) assessment program with the Financial Sector Assessment Program (FSAP).
This integration aims to (i) facilitate a more uniform and risk-based approach to financial sector surveillance and improve coordination of Fund analysis across jurisdictions; (ii) provide for a better allocation of Fund resources, with a specific focus on the small number of OFCs that account for the overwhelming volume of offshore activity and could be expected to pose major financial system risks; and (iii) eliminate the need to maintain a potentially discriminatory list of OFC jurisdictions.

Read press release

20:00 Posted in General | Permalink | Comments (0)

The comments are closed.