The Belgian financial system is relatively large, concentrated, and interconnected and has a high level of compliance with the Basel Core Principles (BCPs) for effective banking supervision. The National Bank of Belgium (NBB) deploys high-quality supervisory practices and has clear lines of...

This Detailed Assessment of Compliance—Basel Core Principles for Effective Banking Supervision on the Republic of Belarus reviews principle-by-principle assessment and authorities’ response to the assessment. The legal framework for the regulation and supervision of the financial...

This paper discusses key findings of the Second Review Under the Poverty Reduction and Growth Facility (PRGF). Program performance has been generally satisfactory. The quantitative performance criteria were observed, as was most of the structural conditionality. One structural performance...

The Central Bank of Tunisia's (CBT) liquidity support contributed to rapid credit growth in Tunisia and an uptick in inflation. The Tunisian economy is expected to recover gradually. Banking sector vulnerabilities are much higher, and stress tests indicate that the banking sector may face large...

This technical note discusses the lessons learned from the financial crisis in Russia in 2008. The note summarizes key findings and recommendations, and analyzes the institutional framework and coordination arrangements for systemic risk monitoring and crisis management. It also covers crisis...

Owing to the high dependence of its exports on countries and commodities, Finland experienced the worst recession in the euro area. Executive Directors encouraged authorities to focus on improving bank cost efficiency, preventing excessive risk taking, and limiting liquidity and funding risks....

Kuwait’s economy was affected significantly by the global crisis. The financial sector experienced funding pressures and deterioration in asset quality. The economic outcome depends largely on government spending and the associated private investment. Stress tests indicate that the...

This paper reviews Moldova’s Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, and Banking Supervision. Compliance with the Basel Core Principles and the IMF Code of Good Practices on...