The economy recovered strongly in 2021, following an unprecedented real output contraction in 2020. However, the outlook remains precarious amidst projected future low growth, high unemployment and adverse debt dynamics, and the recovery pace is unlikely to be sustained. Ample buffers allowed...

This Technical Note on Stress Testing and Systemic Risk Analysis for the Republic of Poland discusses that Poland's financial system is dominated by the banking sector, with significant state participation and foreign ownership. The banking system shows resiliency to adverse shocks in the...

This Technical Assistance report on Bulgaria reviews the formalization and implementation of a comprehensive Supervisory and Review and Evaluation Process (SREP) that includes an explicit and detailed supervisory Pillar 2 capital requirement. The paper highlights that unsound banking practices...