Spanish authorities have made good progress in establishing an effective crisis management and resolution regime. The authorities have supported the Single Resolution Board (SRB) in setting resolution plans for Significant Institutions (SIs) and agreed on resolution plans for Less Significant...

Japan has made progress in improving its crisis readiness since the 2017 FSAP, and the authorities are committed to make further enhancements that are needed. Notably, the authorities have introduced loss absorbing capacity (LAC) requirements, expanded the recovery and resolution planning (RRP)...

This technical note focuses on financial safety net crisis management in Iceland. This paper assesses and makes recommendations regarding the different elements of the financial safety net in Iceland. The scope of the assessment includes the institutional arrangements for recovery, resolution,...

The Mexican financial authorities strengthened the financial safety net since the last FSAP and need to continue and accelerate enhancements. Recovery and resolution plans are in place for all commercial banks, systemic banks are required to increase their loss absorbency complementing the...

Chile has a large and well-developed financial system, compared with the rest of Latin America. The market is well integrated into the global financial system, with Chilean firms investing in foreign financial assets, either directly or via institutional investors, and foreigners participating...

The 2009 Article IV Consultation highlights that the near-term outlook for Belgium is challenging, with real GDP expected to drop by about 3 percent in 2009 and a gradual recovery projected for 2010. The unemployment rate will continue to rise in 2010, and inflation pressures are expected to...

Japan's financial system is digitalizing rapidly, increasing exposure to cyber risk. As in other jurisdictions, the pace of digitalization in Japan has increased substantially, but cyber incidents have also surged in recent years. The tight interdependencies within its financial system, and...

This technical note on Iceland focuses on Stress Testing and Systemic Risk Analysis. The Financial Sector Assessment Program took place against the background of a strengthened financial sector in Iceland amid heightened uncertainty in the global economy. The Icelandic financial landscape has...

This technical assistance report on Georgia focuses on operationalizing the new bank recovery and resolution frameworks. The economic environment has improved, as coronavirus disease, 2019 has been brought under control but there are new challenges emerging. Economic growth is strong, interest...

This technical assistance report on Georgia focuses on operationalizing the new bank recovery and resolution frameworks. The Georgian authorities have indicated their interest in operationalizing their recovery, resolution, and crisis management frameworks. The report highlights the need to...