Author/Editor:

International Monetary Fund. Monetary and Capital Markets Department

Publication Date:

August 28, 2017

Electronic Access:

Free Full text (PDF file size is 548 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This review examines aspects of the banking supervision regime in Luxembourg having due regard to the establishment of the SSM.1 In addition to updating the findings of the previous FSAP of 2011, it concentrates on those issues arising from Luxembourg’s unique position as an international financial center including high levels of intra-group exposures by Luxembourg banks to their foreign parents and notable linkages between investment funds and banks. It also examines potential threats to the operational independence of the CSSF, the adequacy of on-site supervisory resources and potential risks arising from the continuing increase in residential house prices.

Series:

Country Report No. 17/258