Offshore Financial Centers - Report on the Assessment Program and Proposal for Integration with the Financial Sector Assessment Program

This paper provides an update and overview of the Offshore Financial Center (OFC) program. At the time of the November 2003 review of the OFC program, Directors indicated that the Board should conduct the next review of the program in 2–3 years and be updated periodically on the progress in implementing the OFC program. Progress reports have been issued to the Board annually, the most recent in February 2006.