Montenegro: Financial Sector Assessment Program-Financial Crisis Preparedness and Management-Technical Note
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Summary:
This paper provides assessment of the crisis preparedness and management framework of Montenegro. The banking sector dominates the financial system and accounts for about 90 percent of financial system assets, equivalent to about 93 percent of GDP as of June 2015. In 2010 the Financial Stability Council (FSC) was established to maintain financial system stability and avoid financial distress. FSC members are the Central Bank of Montenegro (CBM) governor (chair), the minister of finance, the president of the Insurance Supervision Agency Council, and the Securities and Exchange Commission president. The CBM functions as the de facto resolution authority for banks.
Series:
Country Report No. 2016/199
Subject:
Bank deposits Bank resolution Bank resolution framework Banking Contingency planning Crisis management Financial crises Lender of last resort
English
Publication Date:
June 28, 2016
ISBN/ISSN:
9781475533606/1934-7685
Stock No:
1MNEEA2016005
Pages:
25
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