{
  "title": "Republic of Croatia: Financial System Stability Assessment: Update",
  "publication": "IMF Staff Country Reports, May 16, 2008",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-croatia-financial-system-stability-assessment-update-21973",
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  "summary": "The 2002 Financial Stability Assessment Program (FSAP) found that the Croatian financial system was resilient, but vulnerabilities remain.",
  "publishDate": "2008-05-16",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Summary",
      "content": "- The 2002 Financial Stability Assessment Program (FSAP) found that the Croatian financial system was resilient, but vulnerabilities remain.\n- Authorities have been proactive in addressing macroeconomic and financial vulnerabilities associated with rapid credit growth.\n- Prudential measures have been taken on contingency planning with supervisory authorities of foreign banks.\n- Efforts have been made to enhance risk awareness and strengthen home-host coordination.\n- The Croatian National Bank (CNB) has put in place an effective bank supervision framework.\n- The assessment reflected a legal and regulatory framework together with banking supervision practices of the Croatian authorities."
    },
    {
      "heading": "Key findings and analysis",
      "content": "- Financial system resilience: The assessment concludes that the system was resilient as of the 2002 FSAP, while also identifying persistent vulnerabilities.\n- Rapid credit growth: Macroeconomic and financial vulnerabilities were associated with rapid credit growth and were a focus of authorities’ responses.\n- Prudential and contingency planning: Authorities implemented prudential measures and contingency planning in coordination with supervisory authorities of foreign banks.\n- Supervision and regulation: The CNB established an effective bank supervision framework; the assessment took into account the existing legal and regulatory framework and supervisory practices."
    },
    {
      "heading": "Policy actions and supervisory measures",
      "content": "- Proactive policy response: Authorities addressed vulnerabilities tied to rapid credit expansion through macroeconomic and financial measures.\n- Coordination with foreign supervisors: Contingency planning was developed in cooperation with supervisory authorities of foreign banks to manage cross-border risks.\n- Risk awareness initiatives: Authorities undertook efforts to enhance risk awareness among stakeholders.\n- Home-host coordination: Strengthening of home-host coordination mechanisms was emphasized to improve cross-border supervisory effectiveness.\n\n---\n\n Content in this bundle\n\n- Executive Summary — cr08160\n  - Executive Summary — cr08160 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Executive Summary — cr08160 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-croatia-financial-system-stability-assessment-update-21973"
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    "Published: May 16, 2008",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451817485.002",
    "The 2002 Financial Stability Assessment Program (FSAP) found that the Croatian financial system was resilient, but vulnerabilities remain.",
    "Authorities have been proactive in addressing macroeconomic and financial vulnerabilities associated with rapid credit growth.",
    "Prudential measures have been taken on contingency planning with supervisory authorities of foreign banks.",
    "Efforts have been made to enhance risk awareness and strengthen home-host coordination.",
    "The Croatian National Bank (CNB) has put in place an effective bank supervision framework.",
    "The assessment reflected a legal and regulatory framework together with banking supervision practices of the Croatian authorities.",
    "Financial system resilience: The assessment concludes that the system was resilient as of the 2002 FSAP, while also identifying persistent vulnerabilities.",
    "Rapid credit growth: Macroeconomic and financial vulnerabilities were associated with rapid credit growth and were a focus of authorities’ responses.",
    "Prudential and contingency planning: Authorities implemented prudential measures and contingency planning in coordination with supervisory authorities of foreign banks.",
    "Supervision and regulation: The CNB established an effective bank supervision framework; the assessment took into account the existing legal and regulatory framework and supervisory practices.",
    "Proactive policy response: Authorities addressed vulnerabilities tied to rapid credit expansion through macroeconomic and financial measures.",
    "Coordination with foreign supervisors: Contingency planning was developed in cooperation with supervisory authorities of foreign banks to manage cross-border risks.",
    "Risk awareness initiatives: Authorities undertook efforts to enhance risk awareness among stakeholders.",
    "Home-host coordination: Strengthening of home-host coordination mechanisms was emphasized to improve cross-border supervisory effectiveness.",
    "**Executive Summary — _cr08160**"
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