Improved liquidity and capital adequacy have increased the Uruguayan banking system’s capacity to withstand shocks. However, macroeconomic and financial risks remain owing to the high level of government debt, guarantees to state banks, high dollarization, and a high share of nonresident...

This paper presents an update to the Financial System Stability Assessment on Sri Lanka. The paper discusses that despite a challenging macroeconomic environment characterized by a high fiscal deficit, inflationary pressures, and a widening current account, near-term risks to the financial...

This paper discusses key findings of the Detailed Assessment of the Securities Clearance and Settlement Systems for Denmark. The assessment recommends that securities settlement systems should have a well-founded, clear, and transparent legal basis in the relevant jurisdiction. Confirmation of...

This paper discusses key findings of the Financial System Stability Assessment (FSSA) on Moldova. The assessment reveals that vulnerabilities of the financial sector appear to be manageable. Stress tests on likely scenarios do not indicate major vulnerabilities for the banking system as a whole....

This staff report considers Georgia’s request for a Stand-By Arrangement and an arrangement under the Standby Credit Facility. Performance in 2011 has been stronger than originally envisaged, with growth of nearly 7 percent, inflation in the low single digits, public debt falling to 34...

This paper discusses key finding of the Assessment Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, and Payment Systems for Serbia. The assessment reveals that the transformation of Serbia’s financial system is bringing...

This paper discusses Selected Issues on Liquidity Risk Management in Fedwire Funds and Private Sector Payment for the United States. While an asymmetric treatment of foreign banking organizations exists regarding the calculation of the capital measure for caps and the fee deductible, policy...

This paper discusses findings of the assessments on Committee on Payment and Settlement Systems–International Organization of Securities Commissions (CPSS-IOSCO) Recommendations for Securities Settlement Systems and Central Counterparties in India. The results indicate that, in general,...

This Financial System Stability Assessment on Turkey discusses macroeconomic development and trend in the financial system. The financial system does not appear to face major immediate threats, but vulnerabilities remain. Turkey remains dependent on capital inflows and thus on international...