The new risk-focused methodology is more comprehensive and is modelled on the internationally-acknowledged CAMEL framework – quite familiar to the Bank as we have been using it for years now for off-site surveillance. Emerging risks can be proactively identified, at the level of both individual institutions and the industry as a whole, and measures can be taken rapidly to address them.
We applied this new approach in 21 on-site examinations carried out in 2013. 51. Shadow banking. The financial scam, unfurling over the country in early 2013, underlined the necessity to review the domestic regulatory and supervisory framework which is characterised by the presence of several agencies.