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Europe > Montenegro

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Cover IMF Staff Country Reports
Montenegro: Financial Sector Assessment Program-Banking Sector Stress Testing-Technical Note
International Monetary Fund. Monetary and Capital Markets Department
The main objective of this technical note is to assess bank’s balance sheet and profits, solvency stress test, and liquidity stress test. The financial system in Montenegro is dominated by the banking sector. By the end of 2014, 12 licensed banks operated in Montenegro, with total banking sector assets amounting to 3.1 billion euros or 88 percent of total financial system assets and 92 percent of GDP. The stress-testing exercise is aimed to test the banking system’s resilience to extreme but plausible shocks. The stress test is a tool to assess the vulnerabilities of the banking system that may expose it to risks.
Keywords:
ISCR; CR; bank; capital adequacy ratio; capital; loan; capital shortfall; parent bank funding; ratio projection; Montenegro bank; bank portfolio; a number of bank; bank failure; EU bank; exposure loss; percentage share; bank network analysis; return on assets; Commercial banks; Loans; Credit; Nonperforming loans; Stress testing; Global
Cover IMF Staff Country Reports
Montenegro: Financial System Stability Assessment
International Monetary Fund. Monetary and Capital Markets Department
This paper focuses on the important issues of Montenegro economy which are as follows: microfinancial setting, financial system resilience, financial oversight, resolution of nonperforming loans, and financial safety nets. Montenegro is still dealing with the aftermath of the collapse of the lending boom in 2008. Economic momentum has accelerated in 2015, but there are numerous downside risks. System-wide solvency and liquidity indicators appear broadly sound, but significant pockets of vulnerabilities exist among domestically owned banks. Decisive action to deal with weak banks is critical for preserving financial stability. While the legal, regulatory, and supervisory frameworks for banking and insurance sector have markedly improved since 2006 Financial Sector Assessment Program, further progress is required.
Keywords:
ISCR; CR; bank; asset; bridge bank; funding; resolution planning; camel rating; liquidity contingency plans; CBM payment system; CBM-managed payment; CBM oversight function; relationship management; camel-rated bank; a number of bank; private sector; excessive risk aversion; bank relationship management; Nonperforming loans; Commercial banks; Liquidity; Credit; Global
Cover IMF Staff Country Reports
Montenegro: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro
International Monetary Fund. European Dept.
This report highlights the recent economic developments and outlook and risks related to the Montenegro’s economy. It also discusses policies which need to be implemented to boost growth. Montenegro’s economy has rebounded in the past year, and strong growth looks set to continue in 2016, at slightly more than 4 percent. Although the government’s growth strategy can bring substantial gains, it also carries sizable risks, notably to the public finances. The authorities have taken various policy measures to (1) contain fiscal sustainability risks, (2) sustainably revitalize credit conditions, (3) safeguard financial sector stability, and (4) boost competitiveness and economic flexibility.
Keywords:
ISCR; CR; asset; production GDP estimate; asset quality; consumer price index; Montenegro; article IV staff; growth strategy; Montenegro's economy; Montenegro authorities; insurance oversight framework; assessment of the resilience; Credit; Public sector wages; Global
Cover IMF Working Papers
Does Supply or Demand Drive the Credit Cycle? Evidence from Central, Eastern, and Southeastern Europe
Greetje Everaert
,
Ms. Natasha X Che
,
Ms. Nan Geng
,
Bertrand Gruss
,
Gregorio Impavido
,
Miss Yinqiu Lu
,
Christian Saborowski
,
Mr. Jerome Vandenbussche
, and
Mr. Li Zeng
Countries in Central, Eastern, and Southeastern Europe (CESEE) experienced a credit boom-bust cycle in the last decade. This paper analyzes the roles of demand and supply factors in explaining this credit cycle. Our analysis first focuses on a large sample of bank-level data on credit growth for the entire CESEE region. We complement this analysis by five case studies (Latvia, Lithuania, Montenegro, Poland, and Romania). Our results of the panel data analysis indicate that supply factors, on average and relative to demand factors, gained in importance in explaining credit growth in the post-crisis period. In the case studies, we find a similar result for Lithuania and Montenegro, but the other three case studies point to the fact that country experiences were heterogeneous.
Keywords:
WP; credit growth; demand and supply; credit demand; credit supply; parent bank; Credit; Eastern Europe; Disequilibrium Model; bank characteristic; excess supply; asset quality; excess demand; credit to household; demand and supply factor; bank funding; demand development; Consumer credit; Credit booms; Loans; Bank credit; Global; Baltics