Montenegro: Financial Sector Assessment Program-Financial Crisis Preparedness and Management-Technical Note
IMF Staff Country Reports, June 28, 2016
Source details
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- Montenegro: Financial Sector Assessment Program-Financial Crisis Preparedness and Management-Technical Note
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Bibliographic details
- Published: June 28, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475533606.002
Summary findings
- The paper provides an 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.
- The Central Bank of Montenegro (CBM) functions as the de facto resolution authority for banks.
Institutional framework and governance
- Financial Stability Council (FSC)
- Established: 2010
- Mandate: maintain financial system stability and avoid financial distress
- Membership: 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
- Central Bank of Montenegro (CBM)
- Role highlighted: de facto resolution authority for banks
- References in keywords: CBM contingency plan, CBM fund, CBM governor, CBM Law, CBM liquidity loan, CBM order
Key subjects and thematic focus
- Bank deposits
- Bank resolution
- Bank resolution framework
- Banking
- Contingency planning
- Crisis management
- Financial crises
- Lender of last resort
Relevant keywords and technical terms preserved from the source
- bank bankruptcy law
- Bank resolution
- Bank resolution framework
- bank shareholder
- camel rating
- CBM contingency plan
- CBM fund
- CBM governor
- CBM Law
- CBM liquidity loan
- CBM order
- Contingency planning
- CR
- Crisis management
- Global
- ISCR
- Lender of last resort
- liquidity contingency plans
- resolution fund
Source: Montenegro: Financial Sector Assessment Program-Financial Crisis Preparedness and Management-Technical Note (IMF Staff Country Reports 2016, 199).
Content in this bundle
- _cr16199 - Executive Summary