Financial Sector Assessment Program : Montenegro Deposit Insurance System
During September 1-15, 2015 an assessment under the IMF/World Bank Financial Sector Assessment Program (FSAP) was conducted for Montenegro. The mission assessed financial sector risks and vulnerabilities, assessed the quality of financial sector su...
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| Format: | Report |
| Language: | English en_US |
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World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/04/26187421/montenegro-financial-sector-assessment-program-fsap-deposit-insurance-system-technical-note http://hdl.handle.net/10986/24124 |
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okr-10986-24124 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
DEPOSIT GUARANTEE LINE OF CREDIT INSURED DEPOSIT DEPOSIT COVERAGE DEPOSIT CAPITAL MARKETS LIABILITY BANKRUPTCY PROCEDURE SOPHISTICATED DEPOSITORS DEPOSITS DEPOSIT GUARANTEE SCHEME LIQUIDATION BANKS’ ASSETS FINANCIAL SAFETY-NET INTEREST RATES ON DEPOSITS DEPOSIT PROTECTION FUND BANK INSPECTION GUARANTEES DEPOSIT PROTECTION SCHEME INVESTMENT POLICIES INTEREST RATE BANKING SYSTEM OBLIGATIONS TO DEPOSITORS INSURER INSURED DEPOSIT AMOUNT LIQUIDITY DEPOSIT PROTECTION LAW ELIGIBLE DEPOSITS PAYMENTS TO DEPOSITORS FAILURE RESOLUTION CAPITAL ADEQUACY INSURED DEPOSITOR LIQUIDITY SUPPORT INVESTOR COMPENSATION ASSET MANAGEMENT INSURED DEPOSITORS CAPITAL ADEQUACY RATIO DEPOSIT INSURERS OBJECTIVES FOR DEPOSIT INSURANCE BANKRUPTCY CENTRAL BANKS CREDITORS INSURANCE SCHEME CREDITOR DEPOSIT INSURANCE FUND CONTAGION CENTRAL BANK INSURANCE FUNDS FOREIGN DEPOSITS CLAIMS OF DEPOSITORS UNINSURED DEPOSITORS DEPOSIT INSURANCE SYSTEMS INDEBTEDNESS INSURANCE SYSTEMS CREDIT UNIONS FINANCIAL INSTITUTION BANK BANKRUPTCY MORAL HAZARD DEBTS CONTRACTS COST OF DEPOSIT INSURANCE INTEREST RATES DEPOSIT ACCOUNTS RECAPITALIZATION DOMESTIC BANKS FINANCIAL INSTITUTIONS INSURED DEPOSIT AMOUNTS DEBT FINANCIAL CRISES INSURANCE FUND BLANKET GUARANTEES DEPOSIT INSURANCE INSURERS DEPOSIT AMOUNTS DIVIDENDS DEPOSIT-GUARANTEE UNINSURED DEPOSITS DEPOSIT PROTECTION RESERVE REQUIREMENT BANKRUPTCY PROCEEDINGS INVESTMENT RISKS BLANKET GUARANTEE FOREIGN CURRENCY INTERNATIONAL FINANCIAL INSTITUTIONS CREDIT LINE DEPOSITORS MANDATORY MEMBER CLOSED BANK INSURED DEPOSITS MEMBER BANKS FINANCIAL STABILITY BANK FAILURES FINANCIAL CRISIS GOVERNMENT GUARANTEE INSURABLE DEPOSIT PRUDENTIAL REGULATIONS CONTRACT LEVEL OF COVERAGE INFORMATION ON DEPOSIT INSURANCE BANKRUPTCY PROCEDURES FOREIGN BRANCHES FOREIGN BANKS BALANCE SHEET EFFECTIVE DEPOSIT INSURANCE COVERAGE LEVEL CORRECTIVE ACTIONS SUPERVISION OF BANKS INVESTMENT RETURNS INVESTMENT POLICY INSURANCE SYSTEM DEPOSIT INSURANCE ARRANGEMENTS DEPOSIT INSURER DEPOSIT INSURANCE SYSTEM LEVEL OF DEPOSITS INSURANCE GROWTH OF DEPOSITS COVERAGE LIMITS INSURANCE ARRANGEMENTS COVERAGE LIMIT DEPOSIT INSURANCE LAW INVESTOR DEPOSIT INSURANCE SYSTEM DESIGN DIRECTIVE ON DEPOSIT INSURANCE FOREIGN DEPOSIT INVESTMENT PORTFOLIO COMMERCIAL BANKS INVESTOR PROTECTION BANKRUPTCIES CORRECTIVE ACTION TRANSFER OF DEPOSITS FAILING BANK BANK SUPERVISION DEPOSITOR PREFERENCE DEPOSIT INSURANCE PURPOSES DEPOSIT INSURANCE SCHEME CREDIT GROWTH BANK BANKRUPTCIES PROBLEM BANKS BANKING LAW ASSOCIATION OF DEPOSIT INSURERS LIMITED COVERAGE LIABILITIES BANK FAILURE DEPOSIT GUARANTEE SCHEMES CREDIT INSTITUTIONS GUARANTEE FOREIGN BANK DEPOSIT AMOUNT DEPOSITOR |
| spellingShingle |
DEPOSIT GUARANTEE LINE OF CREDIT INSURED DEPOSIT DEPOSIT COVERAGE DEPOSIT CAPITAL MARKETS LIABILITY BANKRUPTCY PROCEDURE SOPHISTICATED DEPOSITORS DEPOSITS DEPOSIT GUARANTEE SCHEME LIQUIDATION BANKS’ ASSETS FINANCIAL SAFETY-NET INTEREST RATES ON DEPOSITS DEPOSIT PROTECTION FUND BANK INSPECTION GUARANTEES DEPOSIT PROTECTION SCHEME INVESTMENT POLICIES INTEREST RATE BANKING SYSTEM OBLIGATIONS TO DEPOSITORS INSURER INSURED DEPOSIT AMOUNT LIQUIDITY DEPOSIT PROTECTION LAW ELIGIBLE DEPOSITS PAYMENTS TO DEPOSITORS FAILURE RESOLUTION CAPITAL ADEQUACY INSURED DEPOSITOR LIQUIDITY SUPPORT INVESTOR COMPENSATION ASSET MANAGEMENT INSURED DEPOSITORS CAPITAL ADEQUACY RATIO DEPOSIT INSURERS OBJECTIVES FOR DEPOSIT INSURANCE BANKRUPTCY CENTRAL BANKS CREDITORS INSURANCE SCHEME CREDITOR DEPOSIT INSURANCE FUND CONTAGION CENTRAL BANK INSURANCE FUNDS FOREIGN DEPOSITS CLAIMS OF DEPOSITORS UNINSURED DEPOSITORS DEPOSIT INSURANCE SYSTEMS INDEBTEDNESS INSURANCE SYSTEMS CREDIT UNIONS FINANCIAL INSTITUTION BANK BANKRUPTCY MORAL HAZARD DEBTS CONTRACTS COST OF DEPOSIT INSURANCE INTEREST RATES DEPOSIT ACCOUNTS RECAPITALIZATION DOMESTIC BANKS FINANCIAL INSTITUTIONS INSURED DEPOSIT AMOUNTS DEBT FINANCIAL CRISES INSURANCE FUND BLANKET GUARANTEES DEPOSIT INSURANCE INSURERS DEPOSIT AMOUNTS DIVIDENDS DEPOSIT-GUARANTEE UNINSURED DEPOSITS DEPOSIT PROTECTION RESERVE REQUIREMENT BANKRUPTCY PROCEEDINGS INVESTMENT RISKS BLANKET GUARANTEE FOREIGN CURRENCY INTERNATIONAL FINANCIAL INSTITUTIONS CREDIT LINE DEPOSITORS MANDATORY MEMBER CLOSED BANK INSURED DEPOSITS MEMBER BANKS FINANCIAL STABILITY BANK FAILURES FINANCIAL CRISIS GOVERNMENT GUARANTEE INSURABLE DEPOSIT PRUDENTIAL REGULATIONS CONTRACT LEVEL OF COVERAGE INFORMATION ON DEPOSIT INSURANCE BANKRUPTCY PROCEDURES FOREIGN BRANCHES FOREIGN BANKS BALANCE SHEET EFFECTIVE DEPOSIT INSURANCE COVERAGE LEVEL CORRECTIVE ACTIONS SUPERVISION OF BANKS INVESTMENT RETURNS INVESTMENT POLICY INSURANCE SYSTEM DEPOSIT INSURANCE ARRANGEMENTS DEPOSIT INSURER DEPOSIT INSURANCE SYSTEM LEVEL OF DEPOSITS INSURANCE GROWTH OF DEPOSITS COVERAGE LIMITS INSURANCE ARRANGEMENTS COVERAGE LIMIT DEPOSIT INSURANCE LAW INVESTOR DEPOSIT INSURANCE SYSTEM DESIGN DIRECTIVE ON DEPOSIT INSURANCE FOREIGN DEPOSIT INVESTMENT PORTFOLIO COMMERCIAL BANKS INVESTOR PROTECTION BANKRUPTCIES CORRECTIVE ACTION TRANSFER OF DEPOSITS FAILING BANK BANK SUPERVISION DEPOSITOR PREFERENCE DEPOSIT INSURANCE PURPOSES DEPOSIT INSURANCE SCHEME CREDIT GROWTH BANK BANKRUPTCIES PROBLEM BANKS BANKING LAW ASSOCIATION OF DEPOSIT INSURERS LIMITED COVERAGE LIABILITIES BANK FAILURE DEPOSIT GUARANTEE SCHEMES CREDIT INSTITUTIONS GUARANTEE FOREIGN BANK DEPOSIT AMOUNT DEPOSITOR World Bank International Monetary Fund Financial Sector Assessment Program : Montenegro Deposit Insurance System |
| geographic_facet |
Europe and Central Asia Montenegro |
| description |
During September 1-15, 2015 an
assessment under the IMF/World Bank Financial Sector
Assessment Program (FSAP) was conducted for Montenegro. The
mission assessed financial sector risks and vulnerabilities,
assessed the quality of financial sector supervision, and
evaluated financial safety-net arrangements. As part of the
FSAP, the deposit insurance system was assessed against the
BCBS-IADI Core Principles for Effective Deposit Insurance
Systems (CP) from 2009. The revised IADI CP from 2014, which
still have to be adopted by the IMF and the World Bank, have
been used as a reference in this assessment. The assessment
was conducted by a team of experts from the World Bank and
IMF. The assessment has the following main findings: The
deposit insurance system in Montenegro is relatively well
developed. DPF was established in 2006 and operates under
the narrow mandate of a pay-box. It is financed by annual
premiums from member banks, supported by a standby credit
line with the EBRD and a statutory provision for back-up
funding from the government. The current level of funding is
sufficient to cover the insured deposits in all small banks.
The coverage level is EUR 50,000 per depositor per bank and
covers natural and legal persons. With this level, DPF
insures 99.26 percent of depositors and 36.38 percent of
deposits fully. Since its establishment, DPF has developed
much of the infrastructure required to ensure prompt payout
of deposits, including payout software to reimburse
depositors within fifteen working days after a bank failure
and a MoU to support information exchange and coordination
with CBM. The deposit insurance system has never been triggered. |
| format |
Report |
| author |
World Bank International Monetary Fund |
| author_facet |
World Bank International Monetary Fund |
| author_sort |
World Bank |
| title |
Financial Sector Assessment Program : Montenegro Deposit Insurance System |
| title_short |
Financial Sector Assessment Program : Montenegro Deposit Insurance System |
| title_full |
Financial Sector Assessment Program : Montenegro Deposit Insurance System |
| title_fullStr |
Financial Sector Assessment Program : Montenegro Deposit Insurance System |
| title_full_unstemmed |
Financial Sector Assessment Program : Montenegro Deposit Insurance System |
| title_sort |
financial sector assessment program : montenegro deposit insurance system |
| publisher |
World Bank, Washington, DC |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2016/04/26187421/montenegro-financial-sector-assessment-program-fsap-deposit-insurance-system-technical-note http://hdl.handle.net/10986/24124 |
| _version_ |
1764455710635065344 |
| spelling |
okr-10986-241242021-05-25T10:54:44Z Financial Sector Assessment Program : Montenegro Deposit Insurance System World Bank International Monetary Fund DEPOSIT GUARANTEE LINE OF CREDIT INSURED DEPOSIT DEPOSIT COVERAGE DEPOSIT CAPITAL MARKETS LIABILITY BANKRUPTCY PROCEDURE SOPHISTICATED DEPOSITORS DEPOSITS DEPOSIT GUARANTEE SCHEME LIQUIDATION BANKS’ ASSETS FINANCIAL SAFETY-NET INTEREST RATES ON DEPOSITS DEPOSIT PROTECTION FUND BANK INSPECTION GUARANTEES DEPOSIT PROTECTION SCHEME INVESTMENT POLICIES INTEREST RATE BANKING SYSTEM OBLIGATIONS TO DEPOSITORS INSURER INSURED DEPOSIT AMOUNT LIQUIDITY DEPOSIT PROTECTION LAW ELIGIBLE DEPOSITS PAYMENTS TO DEPOSITORS FAILURE RESOLUTION CAPITAL ADEQUACY INSURED DEPOSITOR LIQUIDITY SUPPORT INVESTOR COMPENSATION ASSET MANAGEMENT INSURED DEPOSITORS CAPITAL ADEQUACY RATIO DEPOSIT INSURERS OBJECTIVES FOR DEPOSIT INSURANCE BANKRUPTCY CENTRAL BANKS CREDITORS INSURANCE SCHEME CREDITOR DEPOSIT INSURANCE FUND CONTAGION CENTRAL BANK INSURANCE FUNDS FOREIGN DEPOSITS CLAIMS OF DEPOSITORS UNINSURED DEPOSITORS DEPOSIT INSURANCE SYSTEMS INDEBTEDNESS INSURANCE SYSTEMS CREDIT UNIONS FINANCIAL INSTITUTION BANK BANKRUPTCY MORAL HAZARD DEBTS CONTRACTS COST OF DEPOSIT INSURANCE INTEREST RATES DEPOSIT ACCOUNTS RECAPITALIZATION DOMESTIC BANKS FINANCIAL INSTITUTIONS INSURED DEPOSIT AMOUNTS DEBT FINANCIAL CRISES INSURANCE FUND BLANKET GUARANTEES DEPOSIT INSURANCE INSURERS DEPOSIT AMOUNTS DIVIDENDS DEPOSIT-GUARANTEE UNINSURED DEPOSITS DEPOSIT PROTECTION RESERVE REQUIREMENT BANKRUPTCY PROCEEDINGS INVESTMENT RISKS BLANKET GUARANTEE FOREIGN CURRENCY INTERNATIONAL FINANCIAL INSTITUTIONS CREDIT LINE DEPOSITORS MANDATORY MEMBER CLOSED BANK INSURED DEPOSITS MEMBER BANKS FINANCIAL STABILITY BANK FAILURES FINANCIAL CRISIS GOVERNMENT GUARANTEE INSURABLE DEPOSIT PRUDENTIAL REGULATIONS CONTRACT LEVEL OF COVERAGE INFORMATION ON DEPOSIT INSURANCE BANKRUPTCY PROCEDURES FOREIGN BRANCHES FOREIGN BANKS BALANCE SHEET EFFECTIVE DEPOSIT INSURANCE COVERAGE LEVEL CORRECTIVE ACTIONS SUPERVISION OF BANKS INVESTMENT RETURNS INVESTMENT POLICY INSURANCE SYSTEM DEPOSIT INSURANCE ARRANGEMENTS DEPOSIT INSURER DEPOSIT INSURANCE SYSTEM LEVEL OF DEPOSITS INSURANCE GROWTH OF DEPOSITS COVERAGE LIMITS INSURANCE ARRANGEMENTS COVERAGE LIMIT DEPOSIT INSURANCE LAW INVESTOR DEPOSIT INSURANCE SYSTEM DESIGN DIRECTIVE ON DEPOSIT INSURANCE FOREIGN DEPOSIT INVESTMENT PORTFOLIO COMMERCIAL BANKS INVESTOR PROTECTION BANKRUPTCIES CORRECTIVE ACTION TRANSFER OF DEPOSITS FAILING BANK BANK SUPERVISION DEPOSITOR PREFERENCE DEPOSIT INSURANCE PURPOSES DEPOSIT INSURANCE SCHEME CREDIT GROWTH BANK BANKRUPTCIES PROBLEM BANKS BANKING LAW ASSOCIATION OF DEPOSIT INSURERS LIMITED COVERAGE LIABILITIES BANK FAILURE DEPOSIT GUARANTEE SCHEMES CREDIT INSTITUTIONS GUARANTEE FOREIGN BANK DEPOSIT AMOUNT DEPOSITOR During September 1-15, 2015 an assessment under the IMF/World Bank Financial Sector Assessment Program (FSAP) was conducted for Montenegro. The mission assessed financial sector risks and vulnerabilities, assessed the quality of financial sector supervision, and evaluated financial safety-net arrangements. As part of the FSAP, the deposit insurance system was assessed against the BCBS-IADI Core Principles for Effective Deposit Insurance Systems (CP) from 2009. The revised IADI CP from 2014, which still have to be adopted by the IMF and the World Bank, have been used as a reference in this assessment. The assessment was conducted by a team of experts from the World Bank and IMF. The assessment has the following main findings: The deposit insurance system in Montenegro is relatively well developed. DPF was established in 2006 and operates under the narrow mandate of a pay-box. It is financed by annual premiums from member banks, supported by a standby credit line with the EBRD and a statutory provision for back-up funding from the government. The current level of funding is sufficient to cover the insured deposits in all small banks. The coverage level is EUR 50,000 per depositor per bank and covers natural and legal persons. With this level, DPF insures 99.26 percent of depositors and 36.38 percent of deposits fully. Since its establishment, DPF has developed much of the infrastructure required to ensure prompt payout of deposits, including payout software to reimburse depositors within fifteen working days after a bank failure and a MoU to support information exchange and coordination with CBM. The deposit insurance system has never been triggered. 2016-04-25T18:36:31Z 2016-04-25T18:36:31Z 2016-01 Report http://documents.worldbank.org/curated/en/2016/04/26187421/montenegro-financial-sector-assessment-program-fsap-deposit-insurance-system-technical-note http://hdl.handle.net/10986/24124 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Financial Sector Assessment Program Europe and Central Asia Montenegro |