{
  "title": "Republic of Armenia: Financial System Stability Assessment",
  "publication": "IMF Staff Country Reports, January 11, 2013",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-armenia-financial-system-stability-assessment-40234",
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  "summary": "Armenia’s growing financial system is dominated by banks, and its regulatory and supervisory system is robust. The Executive Board of the International Monetary Fund (IMF) has recommended the Central Bank of Armenia (CBA) to develop a program to gather information and monitor the hedging ability of borrowers. Liquidity requirements in foreign currency would be an important risk mitigant particularly because the CBA has a limited ability to extend foreign currency emergency liquidity assistance. Implementation of the pension reform in 2014 will bring additional investments to the market.",
  "publishDate": "2013-01-11",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Executive summary and system overview",
      "content": "- Armenia’s growing financial system is dominated by banks.\n- The regulatory and supervisory system is described as robust."
    },
    {
      "heading": "Key findings",
      "content": "- The IMF Executive Board recommended the Central Bank of Armenia (CBA) develop a program to gather information and monitor the hedging ability of borrowers.\n- The CBA has a limited ability to extend foreign currency emergency liquidity assistance.\n- Liquidity requirements in foreign currency are identified as an important risk mitigant given the CBA’s limited foreign currency emergency liquidity capacity.\n- Implementation of the pension reform in 2014 will bring additional investments to the market."
    },
    {
      "heading": "Policy recommendations and supervisory actions",
      "content": "- Develop a program to gather information and monitor the hedging ability of borrowers (recommendation to the CBA).\n- Consider liquidity requirements in foreign currency as a risk mitigant, reflecting the CBA’s constrained ability to provide foreign currency emergency liquidity assistance."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Banking, Commercial banks, Financial institutions, Financial sector policy and analysis, Insurance, Insurance companies, Loans, Stress testing\n- Keywords: CBA board meetings, CBA data, CBA law, CBA regulation, CBA staff members, Commercial banks, CR, Global, Insurance, Insurance companies, ISCR, Loans, problem bank, Stress testing\n\nSource: Republic of Armenia: Financial System Stability Assessment (IMF Staff Country Report, January 11, 2013).\n\n---\n\n Content in this bundle\n\n- Republic of Armenia: Financial System Stability Assessment; IMF Country Report 13/10; June 11, 2012\n  - Republic of Armenia: Financial System Stability Assessment; IMF Country Report 13/10; June 11, 2012 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Republic of Armenia: Financial System Stability Assessment; IMF Country Report 13/10; June 11, 2012 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-armenia-financial-system-stability-assessment-40234"
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    "Published: January 11, 2013",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475577792.002",
    "Armenia’s growing financial system is dominated by banks.",
    "The regulatory and supervisory system is described as robust.",
    "The IMF Executive Board recommended the Central Bank of Armenia (CBA) develop a program to gather information and monitor the hedging ability of borrowers.",
    "The CBA has a limited ability to extend foreign currency emergency liquidity assistance.",
    "Liquidity requirements in foreign currency are identified as an important risk mitigant given the CBA’s limited foreign currency emergency liquidity capacity.",
    "Implementation of the pension reform in 2014 will bring additional investments to the market.",
    "Develop a program to gather information and monitor the hedging ability of borrowers (recommendation to the CBA).",
    "Consider liquidity requirements in foreign currency as a risk mitigant, reflecting the CBA’s constrained ability to provide foreign currency emergency liquidity assistance.",
    "Subject: Banking, Commercial banks, Financial institutions, Financial sector policy and analysis, Insurance, Insurance companies, Loans, Stress testing",
    "Keywords: CBA board meetings, CBA data, CBA law, CBA regulation, CBA staff members, Commercial banks, CR, Global, Insurance, Insurance companies, ISCR, Loans, problem bank, Stress testing",
    "**Republic of Armenia: Financial System Stability Assessment; IMF Country Report 13/10; June 11, 2012**"
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