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Isle of Man: Financial Sector Assessment Program Update—Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision

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  • International Monetary Fund

Abstract

This paper presents a Detailed Assessment of the Isle of Man’s (IOM) Observance of the Basel Core Principles for the Effective Banking Supervision Report. The recent global financial markets turmoil has had a significant impact on the Manx financial system. The IOM has a deposit protection scheme, which has been amended shortly after the time of the assessment. The Financial Supervision Commission has adequate powers to ensure compliance with its regulations and other orders, and it uses these powers when the occasion demands.

Suggested Citation

  • International Monetary Fund, 2009. "Isle of Man: Financial Sector Assessment Program Update—Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision," IMF Staff Country Reports 2009/274, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2009/274
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