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FINANCIAL AGENCIES

Statistics Directorate    
Definition:
Financial agencies refers to the bodies responsible for the regulation, supervision, and oversight of the financial and payment systems, including markets and institutions, which aim to promote financial stability, market efficiency, and client-asset and consumer protection.

Context:
Some countries have an agency that has been established with responsibility for regulating and supervising an array of financial institutions (banking, insurance, and securities firms) and markets (securities, derivatives, and commodity futures). For most countries, the oversight responsibility for the financial sector is shared among several agencies.

Thus, responsibility for the conduct of bank regulation and supervision or for bank deposit insurance policies in some countries may be assigned to the central bank, or to an independent bank supervisory or deposit insurance agency, or split among several units of government.

Similarly, responsibility for the conduct of policies related to the oversight of certain categories of financial institutions may be assigned to the central bank or to a specialized agency.

Source Publication:
Code of Good Practices on Transparency in Monetary and Financial Policies, Part 1—Introduction, Approved by the IMF Executive Board on July 24, 2000.
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Hyperlink:
http://www.imf.org/external/np/mae/mft/sup/part1.htm#appendix_III

Statistical Theme: Financial statistics

Created on Wednesday, July 24, 2002

Last updated on Wednesday, March 05, 2003