2006年-IMF国际货币组织全球_Offshore_Financial_Centers_19页_510kb

Summary of the IMF Offshore Financial Centers Assessment Program—A Progress Report (February 2006)

Core Content

This report provides an update on the progress of the second phase of the IMF Offshore Financial Centers (OFC) program, which was initiated in November 2003. The program aims to monitor OFCs' activities and ensure compliance with international financial standards, while also offering technical assistance to jurisdictions with limited resources.

Main Points

1. Program Overview

• The second phase of the OFC program includes monitoring and technical assistance.
• The program is designed to avoid duplication with assessments conducted by FATF and FATF-style regional bodies (FSRBs).
• The Financial Stability Forum (FSF) has withdrawn its 2000 listing of OFCs, recognizing the progress made, but continues to monitor compliance with international standards.

2. Assessments

• Three jurisdictions (Cyprus, Panama, and Uruguay) were assessed in 2005.
• Nine assessments have been scheduled for the second phase.
• Jurisdictions may choose to be assessed under the FSAP (Financial Sector Assessment Program) or Module 2.
• Some jurisdictions have postponed assessments to focus on improving their supervisory arrangements.

3. Technical Assistance

• Technical assistance (TA) has primarily been provided to small, lower-income jurisdictions.
• TA has focused on banking and insurance supervision, AML/CFT legislation, and statistical collection.
• Workshops were held in the Asia-Pacific region, Caribbean, and Middle East to support AML/CFT efforts.

4. Information Framework Initiative

• The initiative aims to improve transparency and monitoring of OFCs.
• It includes structural and activity indicators for banking, insurance, and collective investment schemes.
• The initiative complements existing statistical reporting by jurisdictions, including participation in the CPIS (Coordinated Portfolio Investment Survey) and BIS (Bank for International Settlements) statistics.
• 46 jurisdictions were invited to participate in the pilot phase, with 16 submitting data and 18 indicating their intention to participate.

5. Data Collection and Dissemination

• Data collected under the initiative provides a more complete picture of the financial services industry's geographical distribution.
• Some jurisdictions are expanding their data collection due to the initiative.
• The data submission process is managed through a secure IMF website (ICS), and the initiative encourages data dissemination via jurisdictions' websites.

6. Collaboration and Cooperation

• A Third Annual Roundtable was held in November 2005, involving 27 jurisdictions, four standard-setting bodies, and key international groups.
• The roundtable emphasized the importance of information sharing, risk-based supervision, and appropriate sequencing of standards.
• Participants identified the need for formal and informal cooperation and guides on information-sharing arrangements.

7. Sector-Specific Supervisory Challenges

• Banking: Supervision of cross-border conglomerates requires two-way information exchange between home and host supervisors. Basel II has encouraged this exchange.
• Insurance: Enhanced cooperation is needed to monitor nontraditional arrangements and cross-border risk transfer.
• Securities: Hedge funds require better disclosure and data collection to ensure transparency.
• AML/CFT: A risk-based approach is necessary, but further work is needed to develop accepted methodologies.

Key Information

• Total Jurisdictions Contacted: 44
• Jurisdictions Assessed in the First Round: 42
• Jurisdictions Assessed via FSAP: 15
• Jurisdictions Assessed via Module 2: 27
• Jurisdictions That Have Submitted Data: 16
• Jurisdictions That Have Declined Participation: 5
• Jurisdictions Yet to Confirm Participation: 7
• Jurisdictions That Have Postponed Assessments: Several
• Participating Organizations: FATF, BCBS, IAIS, IOSCO, FSF, OGBS, Egmont Group, APG

Conclusion

The second phase of the IMF OFC program has made significant progress, with improved transparency, ongoing assessments, and technical assistance to smaller jurisdictions. The information framework initiative is providing valuable data for monitoring and analysis, though broader participation is still needed. The collaboration and cooperation between supervisors and standard setters are crucial for addressing complex cross-border issues and ensuring financial integrity.