Slovak Republic: Financial Sector Assessment Program-Technical Note on Regulation and Supervision of Less Significant Institutions

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2025 Issue 089

Publication date: April 2025

ISBN: 9798229007436

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Financial regulation and supervision , Basel Core Principles , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Bank supervision , Liquidity requirements , Credit risk

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Summary

The FSAP conducted a targeted assessment of the effectiveness of banking regulation and supervision in the Slovak Republic focusing on less significant institutions (LSIs). In scoping this review, the 2007 FSAP recommendations as well as relevant Euro-Area (EA) and global regulatory and market developments were taken into account. The review focused on selected areas including the supervisory independence and powers of Národná banka Slovenska (NBS), corrective and sanctioning measures, its supervisory strategy and approach for LSIs, oversight of key risks including credit, liquidity, interest rate risk in the banking book (IRRBB), operational/IT and climate related financial risks, governance and the strength of the LSI’s risk management policies and practices. The assessment also reviewed NBS’ approach to supervising AML/CTF risk for banks.