Serbia : Financial Sector Assessment

The Financial Sector Assessment Program (FSAP) update team found that the authorities have progressed in implementing the key recommendations from the initial assessment. The 2005 FSAP team revealed a number of vulnerabilities, including (i) high c...

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Bibliographic Details
Main Authors:	World Bank, International Monetary Fund
Format:	Financial Sector Assessment Program (FSAP)
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	ACCOUNTING ACCOUNTS RECEIVABLE ASSET CLASSIFICATION ASSET CLASSIFICATIONS ASSET QUALITY AUCTION AUCTION PROCEDURES AUCTIONS AUDIT COMMITTEE AUDIT COMMITTEES AUDITING AUDITORS BALANCE SHEET BALANCE SHEETS BANK ACCOUNTS BANK FAILURES BANK RECAPITALIZATION BANK REGULATION BANK RESTRUCTURING BANK SUPERVISION BANKING LAW BANKING REGULATION BANKING SECTOR BANKING STABILITY BANKING SUPERVISION BANKING SYSTEM BANKRUPT BANKRUPTCY BANKRUPTCY COURT BANKRUPTCY LAW BANKRUPTCY PROCEEDING BIDS BILLS OF EXCHANGE BOARDS OF DIRECTORS BORROWER BUDGETING CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL REQUIREMENTS CASH COLLATERAL CASH MANAGEMENT COLLATERAL COMMERCIAL BANKS CONFLICT OF INTEREST CONSOLIDATED SUPERVISION CONSUMER PROTECTION CORPORATE BANKRUPTCY CORPORATE DEBT CORPORATE DEBTS CORPORATE DISTRESS CORPORATE FRAUD CORPORATE GOVERNANCE CORPORATE INSOLVENCY CORPORATE WORKOUT COURT PROCEEDINGS CREDIT GROWTH CREDIT LOSSES CREDIT RISK CREDITOR CREDITOR CLAIMS CREDITOR RIGHTS CREDITORS DEBT RESCHEDULING DEBT RESOLUTION DEBT RESTRUCTURING DEBT RESTRUCTURING MECHANISMS DEBT SERVICE DEBTOR DEBTORS DEFAULTS DEPOSIT DEPOSIT INSURANCE DEPOSIT INSURANCE AGENCY DEPOSITS DISCLOSURE OBLIGATIONS DISSOLUTION DISTRESSED COMPANIES ENFORCEMENT PROCEDURE ENFORCEMENT PROCEDURES ENFORCEMENT PROCESS ENFORCEMENT RIGHTS EXCHANGE RATE EXTERNAL FINANCING FINAL SETTLEMENT FINANCIAL CRISIS FINANCIAL LEASING FINANCIAL REPORTING FINANCIAL STABILITY FISCAL DEFICIT FISCAL DEFICITS FIXED ASSETS FORECLOSURE FOREIGN BANKS FOREIGN COMPANIES FOREIGN CURRENCY FOREIGN CURRENCY LOANS FOREIGN EXCHANGE FOREIGN INVESTORS FRAUDULENT TRANSFERS GROSS DOMESTIC PRODUCT GUARANTEE FUND HOLDING HOUSEHOLD DEBT HOUSING IMMOVABLE PROPERTY INFORMATION TECHNOLOGY INJUNCTIONS INSOLVENCY MECHANISMS INSTITUTIONAL CAPACITY INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE MARKET INSURANCE SUPERVISION INSURED DEPOSITS INTEREST RATE INTERNATIONAL STANDARDS INVESTMENT FUNDS INVESTOR INTEREST JUDGMENT LARGE BANKS LAW ON BANKRUPTCY LEGAL AUTHORITY LEGAL FRAMEWORK LEGISLATION LENDER LEVEL PLAYING FIELD LEVERAGE LIABILITY LIFE INSURANCE LIFE INSURANCE COMPANIES LIFE INSURANCE PREMIUM LIQUID ASSETS LIQUIDATION LIQUIDATION OF BANKS LIQUIDATOR LIQUIDITY LIQUIDITY MANAGEMENT LOAN LOAN CLASSIFICATION LOAN LOSS LOAN LOSS PROVISIONS LOAN LOSSES MACROECONOMIC ENVIRONMENT MARKET CONDITIONS MARKET CONFIDENCE MARKET PLAYERS MARKET SHARE MARKET SUPERVISION MARKET TRANSPARENCY MONETARY FUND MORTGAGE MORTGAGES MOVABLE ASSETS NATIONAL BANK NET INTEREST MARGIN NON-PERFORMING LOANS NONPERFORMING LOANS NPL OPEN BANK OPEN BANKS OUT-OF-COURT WORKOUT OVERDUE DEBT PENALTIES PENSION PENSION SYSTEMS PENSIONS PETITIONING CREDITOR PETITIONING CREDITORS PLEDGE LAW PLEDGE LAWS PLEDGES PRIVATIZATION PROBLEM BANKS PROCEDURES FOR APPEALS PROFITABILITY PROVISIONING RULES PRUDENTIAL REGULATIONS PUBLIC ADMINISTRATION REAL PROPERTY REAL SECTOR RECAPITALIZATION RECEIVABLES RECEIVER RECEIVERS REGULATORY FRAMEWORK REINSURANCE REQUIREMENTS REORGANIZATION REPO REPO AUCTIONS REPO RATE RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESERVES RETURN RETURN ON EQUITY RIGHTS OF CREDITORS RISK CAPITAL RISK EXPOSURE RISK MANAGEMENT RISK MANAGEMENT SYSTEMS SAVINGS SECONDARY MARKET SECURITIES SETTLEMENT SHAREHOLDER SINGLE CREDITOR SOLVENCY SOLVENT SOLVENT BANKS STATE BANKS SUBSIDIARIES SUBSIDIARY SUPERVISORY BOARDS SUPERVISORY FRAMEWORK SUPERVISORY POLICY SYSTEMIC CRISIS SYSTEMIC RISK TAX TAX COLLECTIONS TAX INCENTIVES TAX TREATMENT TECHNICAL ASSISTANCE TERRORISM TRADING TRANSPARENCY WEAK ASSET WEAK COLLATERAL WITHDRAWAL
Online Access:	http://documents.worldbank.org/curated/en/2010/06/12400376/serbia-financial-sector-assessment http://hdl.handle.net/10986/15914

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Summary:	The Financial Sector Assessment Program (FSAP) update team found that the authorities have progressed in implementing the key recommendations from the initial assessment. The 2005 FSAP team revealed a number of vulnerabilities, including (i) high credit growth, largely financed by foreign banks, which resulted in rising nonperforming loans (NPLs), and (ii) poor management and low capital of several systematically important state-controlled banks. The Basel Core Principle on Banking Supervision (BCP) assessment identified a number of deficiencies in banking supervision. The update team found that the authorities took action to address the issues highlighted by the 2005 FSAP. In particular, they adopted prudential measures to slow credit growth, including higher risk weights for foreign currency loans to un-hedged borrowers, and exposure limits to households. Two systemic state-controlled banks were privatized. Finally, a new banking law was enacted that significantly strengthened supervision on consolidated basis and improved corporate governance and transparency.

Serbia : Financial Sector Assessment

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