This technical note focuses on selected issues on the credit union (CU) sector in the Czech Republic. The business models of CUs in the Czech Republic are fundamentally different from traditional CUs that are typically non-for-profit cooperatives operated for the benefit of a defined set of...

This Selected Issues and Analytical Note on Finland discusses the potential spillovers to Finland from various shocks associated with cross-country interlinkages. The note provides an overview of the trade and financial linkages, assesses the impact of global fiscal consolidation on Finland via...

This 2012 Article IV Consultation highlights that rising unemployment, stagnant wage growth, and lower confidence have all contributed to falling private consumption and low inflation in San Marino. Financial sector balance sheets have continued to compress on the back of steady outflows of...

This paper assesses compliance of the Basel Core Principles for Effective Banking Supervision in Spain. Significant changes have occurred in Spain since the last Financial Sector Assessment Program (FSAP). The most serious has been the deterioration of the economy and the real estate sector. The...

This technical note assesses the reform of Spanish savings banks (SSBs). It provides a brief overview of the SSB institutional framework before the reform, and describes the main factors that led to the financial distress, albeit uneven, of the SSB sector. The note outlines major regulatory and...

An update on Saudi Arabia’s Financial System Stability Assessment (FSAP) is presented. Saudi Arabia has confronted the global financial crisis from a position of strength, and took decisive steps to manage the impact of the crisis. As a result, the financial system has weathered the...

The Eastern Caribbean Currency Union (ECCU) has made significant progress in improving the quality and quantity of the macroeconomic statistics it produces and disseminates to the public. The Selected Issues Paper discusses prospects and challenges for credit unions in the ECCU. It reviews the...

The government of the People’s Republic of Bangladesh has requested a three-year Extended Credit Facility (ECF) arrangement with access of 120 percent of quota in support of their reform program. It aims to restore macroeconomic stability, strengthen the external position, and engender...

Исследована экономическая сущность собственного капитала предприятия. Рассмотрены основные проблемы формирования отдельных составляющих собственного...

China's high corporate savings rate is commonly claimed to be a key driver for the country's large current account surplus. The mainstream explanation for high corporate savings is a combination of windfall profits in state-owned firms, especially in resource sectors, and mis-governance of...