Montenegro: Technical Assistance Report-Financial Soundness Indicators Mission (November 29 - December 5, 2017)
IMF Staff Country Reports, March 14, 2019
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- Montenegro: Technical Assistance Report-Financial Soundness Indicators Mission (November 29 - December 5, 2017)
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Bibliographic details
- Published: March 14, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498303101.002
Scope and objective
- Focus: compilation of financial soundness indicators (FSI) for the deposit takers (DTs).
- Coverage: DTs consist of 15 commercial banks.
- Source data: chart of accounts (COAs) and supervisory series.
Main findings on regulatory and accounting alignment
- Regulatory and accounting practices of the DTs are broadly in line with the FSI Guide.
- The FSI Guide defers to Basel principles and International Accounting Standards.
Priority recommendations and action plan
- Prepare an action plan to support progress in the FSI compilation with priority recommendations (mission recommended an action plan with the following priority recommendations to support progress in the FSI compilation).
- Complement FSI data with corresponding metadata.
- Metadata should contain information on the content and coverage of the FSIs.
- Metadata should include the accounting conventions and other national guidelines.
- Coordinate with regulators of other financial institutions not under the Central Bank of Montenegro’s supervision.
- Draw a work program to collect data for compiling FSIs for other financial corporations.
- Rationale: the financial performance of commercial banks’ counterpart sectors and key markets has direct impact on the soundness of the financial sector.
Subject coverage and keywords
- Subjects: Commercial banks, Economic sectors, Financial institutions, Financial sector, Financial sector policy and analysis, Financial sector stability, Financial soundness indicators, Financial statements, Public financial management (PFM).
- Keywords: CBM official, Commercial banks, compilation framework, compilers in Montenegro, core FSIs, CR, Financial sector, Financial sector stability, Financial soundness indicators, Financial statements, financial system, FSD, FSI Guide, ISCR, TA mission.
Content in this bundle
- 1. Priority Recommendations