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Montenegro :, Financial Sector Assessment Program-Financial Crisis Preparedness and Management-Technical Note

Abstract
This paper provides assessment of the crisis preparedness and management framework of Montenegro. The banking sector dominates the financial system and accounts for about 90 percent of financial system assets, equivalent to about 93 percent of GDP as of June 2015. In 2010 the Financial Stability Council (FSC) was established to maintain financial system stability and avoid financial distress. FSC members are the Central Bank of Montenegro (CBM) governor (chair), the minister of finance, the president of the Insurance Supervision Agency Council, and the Securities and Exchange Commission president. The CBM functions as the de facto resolution authority for banks
Table Of Contents
Cover; CONTENTS; GLOSSARY; EXECUTIVE SUMMARY; BACKGROUND; A. Financial Sector Structure; B. Recent Crisis Experience and Policy Responses; INSTITUTIONAL ARRANGEMENTS; A. Overview; B. Recommendations; FAILURE MITIGATION REGIME; A. Early Intervention; B. Recovery Planning; C. Recommendations; FAILURE RESOLUTION REGIME; A. Resolution Powers; B. Resolution Planning; C. Resolution Funding; D. Recommendations; DEPOSIT INSURANCE; A. Background; B. Recommendations; LIQUIDITY SUPPORT; A. Background; B. Assessments; C. Recommendations; SYSTEMIC CRISIS MANAGEMENT; A. Crisis Preparedness
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (26 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781475565850

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