2013年-IMF国际货币组织全球_Malaysia_Publication_of_Financial_Sector_Assessment_Program_DocumentationDetailed_Assessment_of_Observance_of_Core_Principles_for_Effective_Deposit_Insurance_Systems_75页_705kb

报告摘要

Summary of the Detailed Assessment of Observance of Core Principles for Effective Deposit Insurance Systems in Malaysia (February 2013)

Core Content

This document presents a detailed assessment of the observance of the Core Principles for Effective Deposit Insurance Systems in Malaysia, conducted as part of the Financial Sector Assessment Program (FSAP) by the International Monetary Fund (IMF) and the World Bank. The assessment was completed in February 2013 and was based on information available following discussions with Malaysian officials in September 2012.

Main Findings

I. Background and Methodology

The assessment was conducted by Claire McGuire, a World Bank Senior Financial Sector Specialist, during a mission to Malaysia from March 27 to April 13, 2012.
The methodology used is the Core Principles Methodology, adopted in December 2010 by the Bank for International Settlements (BIS) and the International Association of Deposit Insurers (IADI).
The assessment focused solely on PIDM's compliance with the Core Principles in its role as a deposit insurer for commercial banks.
The evaluation did not consider practical application of laws due to the absence of bank failures since PIDM's establishment in 2005.

II. Institutional and Macroprudential Setting

Supervisory Environment: BNM and the Securities Commission (SC) oversee the financial system. BNM supervises the banking and insurance sectors, while SC oversees the securities and derivatives industries.
Financial System Overview: The financial system is highly concentrated, with the top five commercial banks holding 70% of total banking system assets. Non-bank credit intermediation accounts for about 90% of GDP.
Offshore Sector: Labuan, an Offshore Financial Center (OFC), hosts 61 approved banks at year-end 2010, with many operating on a global scale.

III. General Preconditions for an Effective Deposit Insurance System

Macroeconomic Environment: Malaysia experienced strong economic growth in 2010 and 2011, with the economy recovering from the global financial crisis.
Sound Governance of Financial Safety Net Agencies: BNM has a broad mandate and powers to address financial stability concerns, including the ability to intervene and resolve systemic risks.
Prudential Regulation and Supervision: BNM supervises most of the financial system and ensures compliance with Basel Core Principles.
Legal Framework: Malaysia has a well-developed legal system with independent judiciary and clear property rights. The legal framework supports deposit insurance and insolvency procedures.
Accounting and Disclosure Regime: Malaysian banks comply with International Financial Reporting Standards (IFRS), and PIDM has robust mechanisms for collecting and validating depositor information.

IV. Deposit Insurance System Overview

PIDM (Perbadanan Insurans Deposit Malaysia): Established in 2005, PIDM administers a Deposit Insurance System (DIS) and a Takaful and Insurance Benefits Protection System (TIPS).
Coverage and Funding: Deposit insurance is compulsory for all deposit-taking conventional and Islamic banks. The coverage limit is RM 250,000 per depositor per member institution. PIDM is funded by annual premiums from member banks.
Islamic Deposit Insurance: PIDM also manages an Islamic Deposit Insurance Fund (IDIF), which operates under Shariah principles. The system includes guarantees for Islamic deposits and trust accounts.

Key Points

Compliance with Core Principles

PIDM is compliant with 14 out of 18 Core Principles.
The assessment identified several areas for improvement, including the need for the Ministry of Finance (MoF) to execute a back-up funding agreement with PIDM and to reduce its legislative involvement in PIDM's day-to-day operations.

Core Principles and Assessment

Core Principle	Description	Assessment	Comments
1. Public Policy Objectives	PIDM's public policy objectives are clearly defined in its Act and regularly discussed in reports.	C	Objectives are well integrated into the system's design.
2. Mitigating Moral Hazard	The system uses limited coverage and a risk-based premium system.	C	Coverage is limited to RM 250,000, which covers 99% of depositors.
3. Mandate	PIDM has a clear and formal mandate that aligns with its public policy objectives.	C	Mandate includes resolution of non-viable institutions.
4. Powers	PIDM has broad powers to fulfill its mandate, including the ability to access information and manage funds.	C	Powers are formally specified in its Act.
5. Funding	PIDM is funded through premiums from member banks.	C	Funding mechanisms are in place.
6. Risk-Based Premium System	PIDM has a Differential Premium System (DPS) to assess higher risk banks.	C	DPS is in place and validated by external auditors.
7. Access to Information	PIDM has legal access to information from its member institutions.	C	Information exchange is protected under the PIDM Act.
8. Resolution of Distressed Institutions	PIDM has the authority to resolve non-viable institutions.	C	PIDM is positioned to act as a resolution authority.
9. Public Awareness and Communication	PIDM has a strong public awareness program.	C	Communication is well-structured and transparent.
10. Legal and Regulatory Framework	The legal framework supports deposit insurance and insolvency procedures.	C	Laws are in place but require modernization.
11. Coordination with Supervisors	BNM and PIDM work closely to coordinate financial stability measures.	C	Regular coordination is in place.
12. Financial Safety Net Participants	Participants in the financial safety net are authorized to protect depositors.	C	Options include transferring deposits to healthy banks.
13. Legal Action Against Failing Banks	Authorities can take legal action against failing bank management.	C	PIDM and BNM have legal mechanisms to address failures.
14. Accounting and Disclosure	Malaysian banks comply with IFRS, and PIDM has robust accounting and disclosure regimes.	C	Systems support timely and accurate information for depositors.
15. Not Applicable	Some principles are not applicable due to the structure of the deposit insurance system.	N/A	Not applicable for certain aspects.

Conclusion

The assessment concludes that Malaysia's deposit insurance system, administered by PIDM, is broadly compliant with international best practices. While there are areas for improvement, particularly in terms of legislative oversight and back-up funding, the system is well-structured, transparent, and effective in its current form. The Islamic deposit insurance system is also well-integrated, with separate funds and Shariah-compliant mechanisms. The system is supported by a strong legal and supervisory framework, and PIDM is actively working to enhance its role in financial stability and resolution processes.

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