Germany: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Securities Regulation, Insurance Regulation, Monetary and Financial Policy Transparency, Payment

Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Securities Regulation, Insurance Regulation, Monetary and Financial Policy Transparency, Payment Systems, and Securities Settlement

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2003 Issue 343

Publication date: November 2003

ISBN: 9781451810486

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Topics covered in this book

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Banks and Banking , Economics- Macroeconomics , ISCR , CR , banking system , favor bank client , public sector bank , bank financing , bank-issued securities , cooperative bank , credit risk , bank profitability , financial system , Commercial banks , Insurance companies , Cooperative banks , Insurance , Public sector , Global , Europe

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Summary

The German financial system is complex and highly diversified. The second most important class of financial institutions is insurance and pension companies. Germany has taken steps to enhance accounting and auditing practices and to align corporate governance with best international practices. The German banking system is resilient, but relevant indicators show some deterioration. The main vulnerability facing all sectors of the insurance industry is the pressure on capital ratios and risk-bearing capacity from the poor performance of investment portfolios. Securities regulation is of a high standard.