Republic of San Marino: Staff Report for the 2014 Article IV Consultation
Electronic Access:
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Summary:
This 2014 Article IV Consultation on the Republic of San Marino highlights global crisis and tense relations with Italy, which triggered a 30 percent GDP contraction since 2008 and a sea change in San Marino’s off-shore banking model. High liquidity in the system allowed banks to withstand the shock to deposits. Cassa di Risparmio della Repubblica di San Marino, the largest bank, has required 13 percent of GDP in public support. The deep recession and bank recapitalization costs are weighing heavily on public finances.
Series:
Country Report No. 2014/104
Subject:
Banking Commercial banks Creditor bail-in Financial crises Financial institutions Financial regulation and supervision Financial statistics Government finance statistics Loan loss provisions Loans Nonperforming loans
English
Publication Date:
April 29, 2014
ISBN/ISSN:
9781484358801/1934-7685
Stock No:
1SMREA2014001
Pages:
38
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