International finance actions taken to reform financial sectors in Asian emerging markets : report to congressional requesters.DIANE Publishing |
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according to IMF Asian auditing Bank Indonesia Bank of Korea Bank of Thailand bank supervision banking law banking system bankruptcy law Basel Capital Accord Basel Committee billion borrowers capital adequacy central bank chaebols changes commercial banks Committee on Banking connected lending Core Principles corporate debt corporate restructuring corporate sectors credit analysis creditors crisis currency debt restructuring debtors deposit insurance efforts emerging markets Federal Reserve Federal Reserve System Finance and Economy finance companies financial crises financial markets financial sector reform financial statements Financial Supervisory Commission financial systems foreign banks foreign exchange framework Fund government of Indonesia IMF documentation implemented Indonesian Bank insolvent international accounting standards International Monetary Fund International standards call Jakarta limited loan loss Ministry of Finance nonperforming loans officials told percent private banks problems prudential regulation recapitalization regulatory risk supervisory agencies Systems of Indonesia three countries transparency U.S. Treasury weak World Bank World Bank officials
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Page 1 - HOUSE OF REPRESENTATIVES, SUBCOMMITTEE ON DOMESTIC AND INTERNATIONAL MONETARY POLICY, COMMITTEE ON BANKING AND FINANCIAL SERVICES, Washington, DC. The subcommittee met, pursuant to notice, at 11:07 am, in room 2128, Rayburn House Office Building, Hon.
Page 9 - Requirements 6. Banking supervisors must set prudent and appropriate minimum capital adequacy requirements for all banks. Such requirements should reflect the risks that the banks undertake, and must define the components of capital, bearing in mind their ability to absorb losses. At least for internationally active banks, these requirements must not be less than those established in the Basle Capital Accord and its amendments.
Page 48 - The weak state of the banking sector led to successive downgrades by international credit rating agencies and a sharp tightening in the availability of external financing. External creditors began to reduce their debt exposure to Korean banks in the latter part of 1997, causing a sharp decline in usable reserves. A large amount of these reserves were being used to finance the repayment of the short-term debt of Korean commercial banks
Page 6 - Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the United Kingdom and the United States (ie the 'Ten' minus Belgium plus Switzerland).
Page 29 - Banking supervisors must have at their disposal adequate supervisory measures to bring about timely corrective action when banks fail to meet prudential requirements (such as minimum capital adequacy ratios), when there are regulatory violations, or where depositors are threatened in any other way. In extreme circumstances, this should include the ability to revoke the banking licence or recommend its revocation.
Page 3 - Pyongyang has periodically expressed interest in joining the International Monetary Fund (IMF), the World Bank, and the Asian Development Bank (ADB...
Page 7 - Effective Exchange Rate* 93.1 84.2 83.2 84.8 100.8111.7117.3 128.7 •These composites are averages of individual country average rates, weighted for each year in proportion to the US dollar values of the respective GNPs in the preceding three years. The seven countries are Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
Page 27 - A key component of consolidated supervision is establishing contact and information exchange with the various other supervisors involved, primarily host-country supervisory authorities.
Page 48 - Korean commercial banks' offshore branches. Historically, Korean authorities had a policy of not letting private banks go into default. Consequently, the Bank of Korea was providing foreign exchange support to commercial banks as foreign creditors reduced their exposure on short-term lines of credit. The total amount of foreign currency reserves the Bank of Korea, the central bank of Korea, held at the end of December 1997 was $20.4 billion, the usable portion of which was $8.9 billion.4 As of December...
Page 8 - Banking supervisors must be satisfied that banks establish and adhere to adequate policies, practices and procedures for evaluating the quality of assets and the adequacy of loan loss provisions and loan loss reserves.