Mongolia: Financial System Stability Assessment
IMF Staff Country Reports, May 13, 2011
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- Mongolia: Financial System Stability Assessment
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Bibliographic details
- Published: May 13, 2011
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455275519.002
Summary and Key Findings
- The Mongolian financial system is dominated by commercial banks.
- The nonbank financial sector, including insurance and the stock market, is small.
- The current level of dollarization exposes Mongolia’s financial system to risk.
- Aggregate financial soundness indicators for the banking system show a partial recovery from the crisis.
Financial Structure
- Dominant institution type: commercial banks.
- Nonbank sector composition: insurance and the stock market (described as small).
Risks and Vulnerabilities
- Dollarization: described as exposing Mongolia’s financial system to risk.
Development Bank of Mongolia
- The authorities are in the process of establishing the Development Bank of Mongolia as a state-owned limited liability company.
- Recommendation: authorities should carefully consider the options for financing the Development Bank and their budget and other implications.
Subject Tags and Focus Areas
- Banking, Commercial banks, Credit risk, Deposit insurance, Financial crises, Financial institutions, Financial regulation and supervision, Loans
Content in this bundle
- Mongolia: Financial System Stability Assessment; IMF Country Report 11/107; March 3, 2011