Nigeria: Publication of Financial Sector Assessment Program Documentation––Technical Note of Banking Cross-Border Issues
IMF Staff Country Reports, May 28, 2013
Source details
- Canonical URL
- Nigeria: Publication of Financial Sector Assessment Program Documentation––Technical Note of Banking Cross-Border Issues
Other formats
Bibliographic details
- Published: May 28, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484316788.002
Key findings
- The global financial crisis provided Nigerian banks with opportunities to expand within Sub-Saharan Africa.
- Nigerian banks have active cross-border liquidity flows, which may complicate the operation of monetary policy.
Analysis of cross-border banking implications
- Cross-border liquidity flows from Nigerian banks create challenges for monetary policy operations.
- Expansion of Nigerian banks within Sub-Saharan Africa increases the importance of effective home-host supervisory coordination and cooperation.
Policy recommendations
- The Central Bank of Nigeria (CBN) should enhance further its work in improving cross-border supervision, including home-host coordination and cooperation.
- The CBN may also consider taking initiative in establishing a regional coordination group similar to the Vienna Initiative.
- The CBN should improve data collection and granularity on cross-border transactions and funding flows of Nigerian international banks.
Subjects and keywords
- Subjects: Asset and liability management; Banking; Crisis management; Cross-border banking; Education; Financial crises; Financial institutions; Financial services; Foreign banks; Liquidity
- Keywords: bank; CBN discretion; CBN supervisor; Central Africa; country; CR; Crisis management; Cross-border banking; Europe; Foreign banks; ISCR; Liquidity; Nigeria; Nigerian bank; parent bank; Togolese bank; West Africa
IMF Staff Country Report: Nigeria: Publication of Financial Sector Assessment Program Documentation––Technical Note of Banking Cross-Border Issues (May 28, 2013).
Content in this bundle
- Snapshot of Cross-Border Liquidity Flows in January and August 2012.