## Republic of Armenia: Financial System Stability Assessment

_IMF Staff Country Reports, January 11, 2013_

## Source details

**Canonical URL:** [Republic of Armenia: Financial System Stability Assessment](https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-armenia-financial-system-stability-assessment-40234)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/republic-of-armenia-financial-system-stability-assessment-40234/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/republic-of-armenia-financial-system-stability-assessment-40234/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/republic-of-armenia-financial-system-stability-assessment-40234/bundle-manifest.json)

## Bibliographic details
- Published: January 11, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475577792.002

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### Executive summary and system overview
- Armenia’s growing financial system is dominated by banks.
- The regulatory and supervisory system is described as robust.

### Key findings
- 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.

### Policy recommendations and supervisory actions
- 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.

### Subjects and keywords
- 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

*Source: Republic of Armenia: Financial System Stability Assessment (IMF Staff Country Report, January 11, 2013).*

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## Content in this bundle

- **Republic of Armenia: Financial System Stability Assessment; IMF Country Report 13/10; June 11, 2012**
  - [Republic of Armenia: Financial System Stability Assessment; IMF Country Report 13/10; June 11, 2012 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2013/_cr1310.pdf.md){rel="alternate" type="text/markdown"}
  - [Republic of Armenia: Financial System Stability Assessment; IMF Country Report 13/10; June 11, 2012 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2013/_cr1310.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-armenia-financial-system-stability-assessment-40234_