Narrow Your Choices

Refine By Countries

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Business and Economics > Banks and Banking

You are looking at 1 - 10 of 25 items for :

  • Type: Journal Issue x
  • Technical Assistance Reports x
Clear All Modify Search
Cover Technical Assistance Reports
Cabo Verde: Technical Assistance Report-Review and Operationalization of the Resolution Framework
International Monetary Fund. Monetary and Capital Markets Department
The International Monetary Fund (IMF) provided technical assistance to the Banco Cabo Verde (BCV) on reforming and operationalizing its bank resolution framework. Cabo Verde's special resolution regime (SRR) has been in place since 2014, with the BCV serving as the Resolution Authority. It has been applied once, in 2017, for a non-systemic publicly owned bank, but falls short of international best practices, with limited resolution tools and inadequate safeguards to protect creditors' rights, resulting in legal uncertainties. The IMF mission recommended several enhancements, including strengthening the conditions for entry into resolution and expanding resolution tools. The operationalization of the SRR is hindered by staffing challenges, with only one full-time staff member dedicated to the resolution function, and a lack of operational independence. The mission suggested restructuring the governance of the resolution function, separating it from the BCV’s macroprudential function and elevating its status within the BCV. Strengthening resolution planning is crucial, as current legal limitations seem to restrict the BCV's ability to prepare and execute resolution plans. The BCV should also be empowered to develop comprehensive resolution plans and crisis preparedness should also be enhanced, including by developing a resolution manual and initiating crisis simulation exercises.
Keywords:
Crisis Management; Bank Resolution; Special Resolution Regime; Resolution Planning; Recovery Planning; Resolution Tools; Crisis Preparedness; Resolution Manual; Crisis Simulations; Cabo Verde.; Department mission; IMF executive director; IMF's Monetary; mission chief; mission's assessment; Bank resolution framework; Bridge bank; Crisis resolution; Distressed institutions; Southern Africa
Cover Technical Assistance Reports
Bhutan: Technical Assistance Report-Development of an Interest Rate Corridor Framework
International Monetary Fund. Asia and Pacific Dept
and
International Monetary Fund. Monetary and Capital Markets Department
In August 2024, at the request of the Royal Monetary Authority of Bhutan (RMA), the IMF South Asia Regional Training and Technical Assistance Center (SARTTAC) conducted a Technical Assistance (TA) mission in Thimphu. The mission aimed to assist the RMA in establishing an interest rate corridor (IRC) and operationalizing related instruments, liquidity forecasting, and collateral frameworks. The mission identified that the RMA lacks necessary monetary policy instruments to effectively address changing systemic liquidity conditions and financial stability challenges. It emphasized the need to move away from reliance on administrative controls, as the absence of appropriate price incentives reinforces the preference for foreign exchange among Bhutanese residents, increasing pressures on the peg. To tackle these issues, the mission proposed a phased approach to introduce the IRC. Initially, relevant external and internal documents should be finalized, followed by mock operations. The first phase involves introducing a one-week main Open Market Operation (OMO), conducted weekly at the policy rate with full allotment. Automatic access to the IRC's standing facilities should be ensured. Later, fixed-quantity, variable-rate OMOs should be utilized, relying on liquidity forecasting to calibrate operations. Additionally, the mission recommended reinstating sweeping arrangements for government accounts and enhancing coordination with the Treasury to improve liquidity forecasting. These measures aim to strengthen the RMA's operational framework and enhance the effectiveness of monetary policy.
Keywords:
Monetary policy; International organization; Bhutan.; RMA money market contact group; IMF South Asia Regional Training and Technical Assistance Center; IMF's Monetary; expert of the IMF Monetary; interest rate corridor framework; Liquidity management; Interest rate corridor; Liquidity; Commercial banks; Central bank policy rate
Cover Technical Assistance Reports
Botswana: Technical Assistance Report-Enhancing the Forecasting Policy and Analysis System at the Bank of Botswana
International Monetary Fund. Monetary and Capital Markets Department
At the request of Bank of Botswana, a Technical Assistance mission from the Monetary and Capital Markets (MCM) Department visited Gaborone, Botswana during May 27–31, 2024, to assist the authorities in enhancing their forecasting and policy analysis system (FPAS). The mission assessed and advised on both near-term and medium-term forecasting tools and models currently used by the Bank of Botswana. The mission team helped create a new centralized database and introduced a new flexible platform with a suite of models that expands and complements existing near-term forecasting models. The mission team also improved the medium-term forecasting framework by reviewing model calibration, introducing a fiscal block, and recommending further adjustments.
Keywords:
Monetary Policy; Forecasting and Policy Analysis System; Data Management; Near-term and Medium-term Forecasting Tools; Botswana.; IMF's Monetary; medium term forecasting tool; IMF Monetary; policy analysis system; IMF executive directors; Output gap; Infrastructure; Exchange rate arrangements; Central bank policy rate; Exchange rates; Global
Cover Technical Assistance Reports
Belize: Technical Assistance Report-Developing the Supervision of E-Money Issuers
International Monetary Fund. Monetary and Capital Markets Department
IMF conducted a mission at the request of the Central Bank of Belize provided technical assistance focusing on developing a framework for the supervision of electronic money issuers in Belize. The mission reviewed existing approaches to supervising firms conducting regulated financial activities, as well as the regulatory framework and licensing practices for e-money issuers only to the extent that they influence and impact effective supervision. The mission also met with other key stakeholders from the public and private sector setting out nine key recommendations covering risk-based supervision, data collection, reconciliations, transparency, fund safeguarding, permitted investments, agents, inspection reports, and domestic collaboration.
Keywords:
Electronic money; E-money; Supervision; Belize; Central Bank; fintech; Payments.; IMF's Monetary; instrumentalities of the CD recipient; World Bank staff; e-money issuer; terms and conditions; risk assessment; Central bank bills; National payment systems; Credit bureaus; Payment systems
Cover Technical Assistance Reports
Republic of Azerbaijan: Technical Assistance Report-Modernizing Central Bank Communication
International Monetary Fund. Monetary and Capital Markets Department
This report presents an analysis of the Central Bank of the Republic of Azerbaijan's (CBA) communication framework and offers recommendations for enhancement. The technical assistance mission, led by the IMF Monetary and Capital Markets Department, aimed to modernize the CBA's communication strategies to align with international best practices. The findings indicate that while the CBA has made significant progress in external communications, there are areas for improvement, particularly in formalizing communication processes and enhancing message clarity. Recommendations include strengthening the role of the Communications Division, adopting a proactive communication policy, and improving the monetary policy communication cycle. These changes are expected to elevate the CBA's communication to a policy tool that supports its objectives of price and financial stability.
Keywords:
Central Bank; Communication; Monetary Policy; Transparency; Inflation Targeting; Stakeholders; Capacity Building; Policy Framework; Institutional Strategy; Communication Division; Azerbaijan.; CBA monetary policy press release; C. communications management; monetary policy department; B. Communication cycle; communication framework; CBA flagship policy publication; Monetary policy communication; Social networks; Financial sector stability; Central bank policy rate; Monetary policy frameworks; Global
Cover Technical Assistance Reports
Colombia: Technical Assistance Report-Foreign Exchange Market Development and Regulatory Framework Review
International Monetary Fund. Monetary and Capital Markets Department
This report provides an overview of the technical assistance provided by the International Monetary Fund (IMF) to the Banco de la República to support the authorities in reviewing the regulatory framework and formulating development strategies for the foreign exchange market.
Keywords:
Currency internationalization; regulatory framework; foreign exchange market development; Colombia.; FX Market development strategy; FX channeling; Banco de la República; IMF's Monetary; Currency markets; Currencies; Exchange rate risk; Exchange rates; Global
Cover Technical Assistance Reports
Seychelles: Technical Assistance Report-Macroprudential Stress Testing and Climate Risk Analysis
International Monetary Fund. Monetary and Capital Markets Department
The Technical Assistance (TA) mission, conducted in Victoria, Seychelles, from May 2 to 17, 2023, assisted authorities with macroprudential stress testing and climate risk analysis. The stress testing focused on strengthening the solvency and liquidity frameworks: (i) for solvency, considering credit and foreign exchange risks to design robust scenarios, applying econometric techniques to enhance their risk assessment, and (ii) for the liquidity stress test, enhancing the cash flow analyses utilized by the authorities. For the climate risk analysis framework, the mission reviewed essential components, identified data sources, and provided hands-on training for climate risk assessment. Recommendations include fostering collaboration within CBB and other agencies, better leveraging available data, and improving data collection for stress testing and climate risk analysis. The CBS is expected to advance its framework and address data challenges to implement stress testing and climate risk analysis initiatives effectively.
Keywords:
Climate change; Climate scenario analysis; Environment; Financial sector policy and analysis; Liquidity stress testing; Macroprudential stress testing; Natural disasters; Solvency stress testing' Seychelles.; IMF stress; Department mission; Climate risk analysis diagnosis; mission Climate risk analysis component; IMF's Monetary; Loans; Nonperforming loans; Stress testing; Credit risk; Global
Cover Technical Assistance Reports
Georgia: Technical Assistance Report-Cyber Risk: Regulation, Supervision and Testing
International Monetary Fund. Monetary and Capital Markets Department
The technical mission aimed to strengthen the cyber risk regulation and supervision, and testing for the National Bank of Georgia (NBG). The mission focused on (i) an assessment of NBG’s cyber risk regulation, (ii) an assessment of cyber risk supervisory arrangements of NBG, (iii) assisting in the development of a cyber testing framework, and (iv) assisting in the development of a methodology for cyber exercising and stress testing. The mission found that cyber risk regulations including incident reporting requirements are in place, but gaps remain. Cyber risk supervision practices need improvements and more focus on supervisory priorities. Information sharing practices within the financial sector require strengthening. Cyber testing and exercises are an area where significant improvements are needed. Overall, the mission found that the NBG would benefit with an overarching cyber strategy for its financial sector.
Keywords:
Cyber risk regulation; cybersecurity supervision; cyber testing; incident reporting; information sharing; Georgia; Central Bank.; offsite supervision activity; cybersecurity strategy; request of the National Bank of Georgia; information security Act; cybersecurity risk management regulation; Cyber risk; Financial sector; Commercial banks; Operational risk; Auditing; Global
Cover Technical Assistance Reports
Vietnam: Technical Assistance Report-Financial Soundness Indicators Mission (April 3–7, 2023)
International Monetary Fund. Statistics Dept.
The mission worked with officials of the Macroprudential Supervision Department (MSD) of the State Bank of Vietnam (CBS) to enhance the compilation and reporting of financial soundness indicators (FSIs) for deposit takers (DTs). The mission reviewed source data, prepared new spreadsheets, and implemented updated FSIs report forms in line with the 2019 FSIs Compilation Guide. The mission also discussed the potential for compiling FSIs for the rapidly growing insurance sector in Vietnam. Alongside these improvements, the SBV will be able to produce updated and improved FSIs for financial sector surveillance.
Keywords:
Vietnam; Financial Soundness Indicators; 2019 FSIs Compilation Guide; deposit takers; insurance corporations.; bank Supervisory Agency; FSIs Guide; IMF's Statistics Department; G. FSIs data; Vietnam development bank; E. FSIs compilation framework; Financial statements; Commercial banks; Insurance companies; Income
Cover Technical Assistance Reports
Jamaica: Technical Assistance Report-Systemic Risk Monitoring
International Monetary Fund. Monetary and Capital Markets Department
The technical assistance mission aimed to build capacity to enhance financial stability analyses and assessments at the Bank of Jamaica (BOJ). It reviewed the latest available Financial Stability Report (FSR) and the analytical toolkit. In particular, the mission assisted the BOJ in estimating sectoral credit risk models to enhance the forward-looking element of its financial stability assessment. The mission explained the Bayesian Model Averaging (BMA) approach and provided initial estimates for five sectoral credit risk models, including mortgages to households, personal loans, corporate loans for tourism, corporate loans for construction, and other corporate loans. Additionally, the mission covered topics such as financial stability indicators, credit risk, stress testing, insurance and pension balance sheets, climate risk, interconnectedness, and contagion risk. Several recommendations were provided, covering the FSR, methodological work on the financial stability analytical toolkit, internal and external communication, and data sources and their management. The mission concluded that financial stability should be regarded as equally important as monetary policy and supervision. It emphasized the need for a detailed production plan for the FSR, a comprehensive communication strategy, and the organization of all data in a single data warehouse to support the financial stability analytical toolkit. The mission also highlighted the importance of improving non-bank analyses and regularly reporting on emerging risks, such as climate and cyber risks.
Keywords:
Financial stability; financial stability report; systemic risk; stress testing; credit risk modeling; Jamaica.; BOJ data management system; BOJ stress; BOJ website; BOJ credit risk stress tests; market risk analysis; BOJ absorption ratio; Financial sector stability; Credit risk; Market risk; Financial sector risk; Caribbean