## Montenegro: Financial Sector Assessment Program-Financial Crisis Preparedness and Management-Technical Note

_IMF Staff Country Reports, June 28, 2016_

## Source details

**Canonical URL:** [Montenegro: Financial Sector Assessment Program-Financial Crisis Preparedness and Management-Technical Note](https://www.imf.org/en/publications/cr/issues/2016/12/31/montenegro-financial-sector-assessment-program-financial-crisis-preparedness-and-management-44023)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/montenegro-financial-sector-assessment-program-financial-crisis-preparedness-and-management-44023/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/montenegro-financial-sector-assessment-program-financial-crisis-preparedness-and-management-44023/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/montenegro-financial-sector-assessment-program-financial-crisis-preparedness-and-management-44023/bundle-manifest.json)

## 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**
  - [_cr16199 - Executive Summary (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16199.pdf.md){rel="alternate" type="text/markdown"}
  - [_cr16199 - Executive Summary (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16199.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/montenegro-financial-sector-assessment-program-financial-crisis-preparedness-and-management-44023_