The recent financial crises have underscored the need for the European Union (EU) to take a regional approach to financial stability. Preserving financial stability in such an environment requires a supranational oversight framework. Progress has been made toward stronger pan-European...

Most banks in Paraguay appear resilient to shocks, although the exposure to large borrowers is high. The mission strongly recommends the adoption of measures that would moderate credit growth and induce financial institutions to build cushions that can protect them and their clients from a...

This paper discusses key findings of the financial sector stability assessment for Romania. The assessment reveals that in recent years, Romania’s financial sector regulatory authorities have made significant progress in adopting international best practices, including through...

A detailed assessment report on the observance of China’s compliance of Basel Core Principles for effective banking supervision is presented. Regulation and supervision of China’s banking system has made impressive progress in the past few years, led by an activist, forward-looking...

Ukraine was one of the countries hardest hit by the global economic and financial crisis; it was also one of the first countries supported by a Stand-By Arrangement (SBA). The Ex Post Evaluation of Exceptional Access Under the 2008 SBA reveals that the achievement of program objectives was...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

This paper discusses a request from the Republic of Latvia for a Stand-By Arrangement. The Latvian authorities are launching a decisive economic reform program and are seeking substantial international financial assistance to quell the crisis. With international reserves falling precipitously...

This paper focuses on Saudi Arabia’s Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision. The banking sector is fairly concentrated around a few banks. The seven largest banks have a combined share of assets of 85 percent. The three largest...

Based on a simple framework, this note clarifies the economics behind bank restructuring and evaluates various restructuring options for systemically important banks. The note assumes that the government aims to reduce the probability of a bank’s default and keep the burden on taxpayers...

This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, monetary policy, corporate financing, and the capacity to absorb capital inflows....