Slovak Republic: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, Corporate Governance, Payment Systems; and Summary Assessments of Insolvency and Credit Rights Systems and Anti-Money Laundering Practices
IMF Staff Country Reports, September 13, 2002
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- Slovak Republic: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, Corporate Governance, Payment Systems; and Summary Assessments of Insolvency and Credit Rights Systems and Anti-Money Laundering Practices
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Bibliographic details
- Published: September 13, 2002
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451835441.002
Key findings and assessment
- Successful stabilization and an ambitious structural reform program since 1998 contributed to financial-sector recovery.
- Rehabilitation and privatization of the public banks produced a banking and financial sector that appears to be robust to a range of macroeconomic or financial sector shocks.
- Banking supervision is weak.
- The National Bank of Slovakia has launched a medium-term program to strengthen banking supervision.
Implications for financial stability
- The combination of stabilization, structural reforms, and bank privatization underpins the sector’s resilience to various macroeconomic and financial shocks.
- Weak supervisory capacity presents a material vulnerability despite apparent sector robustness, necessitating targeted capacity-building and regulatory strengthening.
Policy recommendations and institutional actions
- Strengthen banking supervision through the National Bank of Slovakia’s medium-term program (as launched by the National Bank of Slovakia).
- Sustain structural reforms and prudent macroeconomic policies to preserve the banking sector’s resilience.
Subjects and keywords
- Subject: Bank supervision, Banking, Commercial banks, Financial institutions, Financial markets, Financial regulation and supervision, Insurance companies, Payment systems
- Keywords: Bank supervision, banking sector, Central and Eastern Europe, commercial bank, Commercial banks, CR, Eastern Europe, financial market, Insurance companies, interest rate, ISCR, monetary policy, national bank, Payment systems
Source: Slovak Republic: Financial System Stability Assessment (IMF Staff Country Reports), September 13, 2002.