Financial Sector Assessment : Serbia

This Financial Sector Assessment presents the Bank's policy recommendations following an analysis of Albania's financial system, currently broadly stable, but with systemic risks which could come to the fore if the rapid pace of credit gr...

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Main Author:	World Bank
Format:	Financial Sector Assessment Program (FSAP)
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCOUNTABILITY ACCOUNTING ACCOUNTING POLICIES ACCOUNTS ADMINISTRATIVE COSTS ASSET CLASSIFICATION AUDITING AUDITORS BANK ASSETS BANK CAPITAL BANK LENDING BANK LOANS BANK PRIVATIZATION BANK REHABILITATION BANK RUN BANK SUPERVISION BANKING LAW BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKRUPTCY BANKRUPTCY PROCEDURES BONDS BORROWING BROKERS CAPITAL ADEQUACY CAPITAL BASE CAPITAL INFLOWS CAPITAL MARKETS CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CAPITALIZATION CAR CENTRAL BANK CLEARING HOUSE COMMERCIAL BANKS COMPETITIVE ADVANTAGE CONSOLIDATED SUPERVISION CONSOLIDATION CORPORATE BONDS CORPORATE GOVERNANCE CORPORATE SECTOR CREDIT BOOM CREDIT COOPERATIVES CREDIT INSTITUTIONS CREDIT RISK DAMAGES DECISION MAKING DEPOSIT INSURANCE DEPOSITORS DEPOSITS DISCOUNT RATE DISINFLATION DISTRESSED BANKS ECONOMIC GROWTH EQUITY MARKETS EXCESS LIQUIDITY EXPORTS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL LEASING FINANCIAL MARKETS FINANCIAL POLICIES FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL STABILITY FISCAL POLICIES FORECASTS FOREIGN BANKS FOREIGN CURRENCY DEPOSITS FOREIGN EXCHANGE GDP GOVERNMENT BONDS INFLATION INSOLVENCY INSOLVENT BANKS INSURANCE INSURANCE INDUSTRY INSURANCE LAW INSURANCE SUPERVISION INTEREST RATE INTEREST RATES INTERNAL CONTROLS JOINT STOCK COMPANIES LAWS LEGAL FRAMEWORK LEGAL PROTECTION LEGISLATION LEVEL PLAYING FIELD LIABILITY LIQUIDATION LIQUIDATION OF BANKS LOAN CLASSIFICATION LOAN LOSS PROVISIONS LONDON CLUB MACROECONOMIC CONTEXT MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MARKET RISKS MERGERS MONETARY POLICY MORAL HAZARD MORTGAGES NATIONALIZATION OWN FUNDS PAYMENT SYSTEMS PENSIONS PORTFOLIOS PRICE INCREASES PRIVATE BANKS PRIVATIZATION PRODUCTIVITY PROPERTY RIGHTS PRUDENTIAL REGULATIONS PRUDENTIAL RULES PRUDENTIAL SUPERVISION PUBLIC DEBT RECAPITALIZATION REGULATORY FRAMEWORK RESERVE REQUIREMENT RESERVE REQUIREMENTS RISK MANAGEMENT SAVINGS SECURITIES SHAREHOLDERS SMALL BANKS STATE BANKS STATUTORY AUDITORS SUBSIDIARIES SYSTEMIC RISK T-BILLS TRADE DEFICIT TRADING TRANSACTION COSTS TRANSPARENCY VULNERABILITY WEAK JUDICIARY
Online Access:	http://documents.worldbank.org/curated/en/2005/11/6430013/serbia-montenegro-serbia-financial-sector-assessment http://hdl.handle.net/10986/15955

id	okr-10986-15955
recordtype	oai_dc
spelling	okr-10986-159552021-04-23T14:03:23Z Financial Sector Assessment : Serbia World Bank ACCOUNTABILITY ACCOUNTING ACCOUNTING POLICIES ACCOUNTS ADMINISTRATIVE COSTS ASSET CLASSIFICATION AUDITING AUDITORS BANK ASSETS BANK CAPITAL BANK LENDING BANK LOANS BANK PRIVATIZATION BANK REHABILITATION BANK RUN BANK SUPERVISION BANKING LAW BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKRUPTCY BANKRUPTCY PROCEDURES BONDS BORROWING BROKERS CAPITAL ADEQUACY CAPITAL BASE CAPITAL INFLOWS CAPITAL MARKETS CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CAPITALIZATION CAR CENTRAL BANK CLEARING HOUSE COMMERCIAL BANKS COMPETITIVE ADVANTAGE CONSOLIDATED SUPERVISION CONSOLIDATION CORPORATE BONDS CORPORATE GOVERNANCE CORPORATE SECTOR CREDIT BOOM CREDIT COOPERATIVES CREDIT INSTITUTIONS CREDIT RISK DAMAGES DECISION MAKING DEPOSIT INSURANCE DEPOSITORS DEPOSITS DISCOUNT RATE DISINFLATION DISTRESSED BANKS ECONOMIC GROWTH EQUITY MARKETS EXCESS LIQUIDITY EXPORTS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL LEASING FINANCIAL MARKETS FINANCIAL POLICIES FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL STABILITY FISCAL POLICIES FORECASTS FOREIGN BANKS FOREIGN CURRENCY DEPOSITS FOREIGN EXCHANGE GDP GOVERNMENT BONDS INFLATION INSOLVENCY INSOLVENT BANKS INSURANCE INSURANCE INDUSTRY INSURANCE LAW INSURANCE SUPERVISION INTEREST RATE INTEREST RATES INTERNAL CONTROLS JOINT STOCK COMPANIES LAWS LEGAL FRAMEWORK LEGAL PROTECTION LEGISLATION LEVEL PLAYING FIELD LIABILITY LIQUIDATION LIQUIDATION OF BANKS LOAN CLASSIFICATION LOAN LOSS PROVISIONS LONDON CLUB MACROECONOMIC CONTEXT MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MARKET RISKS MERGERS MONETARY POLICY MORAL HAZARD MORTGAGES NATIONALIZATION OWN FUNDS PAYMENT SYSTEMS PENSIONS PORTFOLIOS PRICE INCREASES PRIVATE BANKS PRIVATIZATION PRODUCTIVITY PROPERTY RIGHTS PRUDENTIAL REGULATIONS PRUDENTIAL RULES PRUDENTIAL SUPERVISION PUBLIC DEBT RECAPITALIZATION REGULATORY FRAMEWORK RESERVE REQUIREMENT RESERVE REQUIREMENTS RISK MANAGEMENT SAVINGS SECURITIES SHAREHOLDERS SMALL BANKS STATE BANKS STATUTORY AUDITORS SUBSIDIARIES SYSTEMIC RISK T-BILLS TRADE DEFICIT TRADING TRANSACTION COSTS TRANSPARENCY VULNERABILITY WEAK JUDICIARY This Financial Sector Assessment presents the Bank's policy recommendations following an analysis of Albania's financial system, currently broadly stable, but with systemic risks which could come to the fore if the rapid pace of credit growth continues. Policies to support financial stability, and development should focus mostly on bank supervision, and the legal framework, while policies to remove impediments to the development of the nascent insurance sector are underway. Not surprisingly, the creation of a supporting legal framework is currently the main issue for capital markets. But monetary policy effectiveness should be strengthened by adjustments to the monetary operation framework, and the establishment of an interest rate bureau. Regarding corporate governance, much remains to be done. The authorities should eliminate discrepancies between the general-purpose financial reporting under the International Financial Reporting Standards (IFRS) and the regulatory reporting. Moreover, macroeconomic imbalances are rooted in structural problems in state- and socially-owned enterprises which account for 50 percent of GDP. Regarding prudential supervision issues, the NBS Bank Supervision Department (BSD) has made progress in enhancing effectiveness; however, the Basel Core Principles assessment of bank supervision was unfavorable. 2013-10-01T16:05:57Z 2013-10-01T16:05:57Z 2005-11 http://documents.worldbank.org/curated/en/2005/11/6430013/serbia-montenegro-serbia-financial-sector-assessment http://hdl.handle.net/10986/15955 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work Europe and Central Asia Serbia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCOUNTABILITY ACCOUNTING ACCOUNTING POLICIES ACCOUNTS ADMINISTRATIVE COSTS ASSET CLASSIFICATION AUDITING AUDITORS BANK ASSETS BANK CAPITAL BANK LENDING BANK LOANS BANK PRIVATIZATION BANK REHABILITATION BANK RUN BANK SUPERVISION BANKING LAW BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKRUPTCY BANKRUPTCY PROCEDURES BONDS BORROWING BROKERS CAPITAL ADEQUACY CAPITAL BASE CAPITAL INFLOWS CAPITAL MARKETS CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CAPITALIZATION CAR CENTRAL BANK CLEARING HOUSE COMMERCIAL BANKS COMPETITIVE ADVANTAGE CONSOLIDATED SUPERVISION CONSOLIDATION CORPORATE BONDS CORPORATE GOVERNANCE CORPORATE SECTOR CREDIT BOOM CREDIT COOPERATIVES CREDIT INSTITUTIONS CREDIT RISK DAMAGES DECISION MAKING DEPOSIT INSURANCE DEPOSITORS DEPOSITS DISCOUNT RATE DISINFLATION DISTRESSED BANKS ECONOMIC GROWTH EQUITY MARKETS EXCESS LIQUIDITY EXPORTS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL LEASING FINANCIAL MARKETS FINANCIAL POLICIES FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL STABILITY FISCAL POLICIES FORECASTS FOREIGN BANKS FOREIGN CURRENCY DEPOSITS FOREIGN EXCHANGE GDP GOVERNMENT BONDS INFLATION INSOLVENCY INSOLVENT BANKS INSURANCE INSURANCE INDUSTRY INSURANCE LAW INSURANCE SUPERVISION INTEREST RATE INTEREST RATES INTERNAL CONTROLS JOINT STOCK COMPANIES LAWS LEGAL FRAMEWORK LEGAL PROTECTION LEGISLATION LEVEL PLAYING FIELD LIABILITY LIQUIDATION LIQUIDATION OF BANKS LOAN CLASSIFICATION LOAN LOSS PROVISIONS LONDON CLUB MACROECONOMIC CONTEXT MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MARKET RISKS MERGERS MONETARY POLICY MORAL HAZARD MORTGAGES NATIONALIZATION OWN FUNDS PAYMENT SYSTEMS PENSIONS PORTFOLIOS PRICE INCREASES PRIVATE BANKS PRIVATIZATION PRODUCTIVITY PROPERTY RIGHTS PRUDENTIAL REGULATIONS PRUDENTIAL RULES PRUDENTIAL SUPERVISION PUBLIC DEBT RECAPITALIZATION REGULATORY FRAMEWORK RESERVE REQUIREMENT RESERVE REQUIREMENTS RISK MANAGEMENT SAVINGS SECURITIES SHAREHOLDERS SMALL BANKS STATE BANKS STATUTORY AUDITORS SUBSIDIARIES SYSTEMIC RISK T-BILLS TRADE DEFICIT TRADING TRANSACTION COSTS TRANSPARENCY VULNERABILITY WEAK JUDICIARY
spellingShingle	ACCOUNTABILITY ACCOUNTING ACCOUNTING POLICIES ACCOUNTS ADMINISTRATIVE COSTS ASSET CLASSIFICATION AUDITING AUDITORS BANK ASSETS BANK CAPITAL BANK LENDING BANK LOANS BANK PRIVATIZATION BANK REHABILITATION BANK RUN BANK SUPERVISION BANKING LAW BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKRUPTCY BANKRUPTCY PROCEDURES BONDS BORROWING BROKERS CAPITAL ADEQUACY CAPITAL BASE CAPITAL INFLOWS CAPITAL MARKETS CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CAPITALIZATION CAR CENTRAL BANK CLEARING HOUSE COMMERCIAL BANKS COMPETITIVE ADVANTAGE CONSOLIDATED SUPERVISION CONSOLIDATION CORPORATE BONDS CORPORATE GOVERNANCE CORPORATE SECTOR CREDIT BOOM CREDIT COOPERATIVES CREDIT INSTITUTIONS CREDIT RISK DAMAGES DECISION MAKING DEPOSIT INSURANCE DEPOSITORS DEPOSITS DISCOUNT RATE DISINFLATION DISTRESSED BANKS ECONOMIC GROWTH EQUITY MARKETS EXCESS LIQUIDITY EXPORTS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL LEASING FINANCIAL MARKETS FINANCIAL POLICIES FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL STABILITY FISCAL POLICIES FORECASTS FOREIGN BANKS FOREIGN CURRENCY DEPOSITS FOREIGN EXCHANGE GDP GOVERNMENT BONDS INFLATION INSOLVENCY INSOLVENT BANKS INSURANCE INSURANCE INDUSTRY INSURANCE LAW INSURANCE SUPERVISION INTEREST RATE INTEREST RATES INTERNAL CONTROLS JOINT STOCK COMPANIES LAWS LEGAL FRAMEWORK LEGAL PROTECTION LEGISLATION LEVEL PLAYING FIELD LIABILITY LIQUIDATION LIQUIDATION OF BANKS LOAN CLASSIFICATION LOAN LOSS PROVISIONS LONDON CLUB MACROECONOMIC CONTEXT MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MARKET RISKS MERGERS MONETARY POLICY MORAL HAZARD MORTGAGES NATIONALIZATION OWN FUNDS PAYMENT SYSTEMS PENSIONS PORTFOLIOS PRICE INCREASES PRIVATE BANKS PRIVATIZATION PRODUCTIVITY PROPERTY RIGHTS PRUDENTIAL REGULATIONS PRUDENTIAL RULES PRUDENTIAL SUPERVISION PUBLIC DEBT RECAPITALIZATION REGULATORY FRAMEWORK RESERVE REQUIREMENT RESERVE REQUIREMENTS RISK MANAGEMENT SAVINGS SECURITIES SHAREHOLDERS SMALL BANKS STATE BANKS STATUTORY AUDITORS SUBSIDIARIES SYSTEMIC RISK T-BILLS TRADE DEFICIT TRADING TRANSACTION COSTS TRANSPARENCY VULNERABILITY WEAK JUDICIARY World Bank Financial Sector Assessment : Serbia
geographic_facet	Europe and Central Asia Serbia
description	This Financial Sector Assessment presents the Bank's policy recommendations following an analysis of Albania's financial system, currently broadly stable, but with systemic risks which could come to the fore if the rapid pace of credit growth continues. Policies to support financial stability, and development should focus mostly on bank supervision, and the legal framework, while policies to remove impediments to the development of the nascent insurance sector are underway. Not surprisingly, the creation of a supporting legal framework is currently the main issue for capital markets. But monetary policy effectiveness should be strengthened by adjustments to the monetary operation framework, and the establishment of an interest rate bureau. Regarding corporate governance, much remains to be done. The authorities should eliminate discrepancies between the general-purpose financial reporting under the International Financial Reporting Standards (IFRS) and the regulatory reporting. Moreover, macroeconomic imbalances are rooted in structural problems in state- and socially-owned enterprises which account for 50 percent of GDP. Regarding prudential supervision issues, the NBS Bank Supervision Department (BSD) has made progress in enhancing effectiveness; however, the Basel Core Principles assessment of bank supervision was unfavorable.
format	Economic & Sector Work :: Financial Sector Assessment Program (FSAP)
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Financial Sector Assessment : Serbia
title_short	Financial Sector Assessment : Serbia
title_full	Financial Sector Assessment : Serbia
title_fullStr	Financial Sector Assessment : Serbia
title_full_unstemmed	Financial Sector Assessment : Serbia
title_sort	financial sector assessment : serbia
publisher	Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2005/11/6430013/serbia-montenegro-serbia-financial-sector-assessment http://hdl.handle.net/10986/15955
_version_	1764431691153145856

Financial Sector Assessment : Serbia

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