Financial Sector Assessment Program : Nigeria - Crisis Management and Crisis Preparedness Frameworks
This note elaborates on the recommendations made in the Financial Sector Assessment Program (FSAP) for Nigeria in the areas of contingency planning, crisis management, and bank resolution. It summarizes the findings of the FSAP mission undertaken...
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
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World Bank, Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2013/05/18181243/nigeria-financial-sector-assessment-program http://hdl.handle.net/10986/15964 |
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okr-10986-15964 |
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| recordtype |
oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ASSET MANAGEMENT ASSET MANAGEMENT COMPANY ASSET PORTFOLIO ASSET STRIPPING ASSET VALUE BALANCE-SHEET INSOLVENT BANK ASSET BANK DEPOSITS BANK FAILURE BANK FAILURES BANK GUARANTEES BANK LIQUIDATION BANK NEGARA MALAYSIA BANKING CRISIS BANKING INDUSTRY BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKING SYSTEM ASSETS BANQUE CENTRALE DES ETATS DE L'AFRIQUE DE L'OUEST BUSINESS PLAN CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKETS CAPITAL REQUIREMENTS CASH FLOWS CASH RESERVE CENTRAL BANKS CLAIM COLLATERAL COMMERCIAL BANKS COMPANY LAW CONNECTED LENDING CONSOLIDATED SUPERVISION CONSOLIDATION CORPORATE GOVERNANCE CORRECTIVE ACTION CORRECTIVE ACTIONS COURT PROCEEDINGS CREDIT GUARANTEE CREDIT LINE CREDIT LINES CREDIT RISKS CREDITOR CREDITOR CLAIMS CREDITORS CREDITS CRIMINAL PENALTIES DATA RELIABILITY DEBT DEBT MANAGEMENT DEBT RESTRUCTURING DEBTORS DECISION-MAKING POWERS DEPOSIT DEPOSIT GUARANTEE DEPOSIT INSURANCE DEPOSIT INSURANCE AGENCY DEPOSIT INSURANCE COVERAGE DEPOSIT INSURANCE FUND DEPOSIT INSURANCE SCHEME DEPOSIT LIABILITIES DEPOSITORS DEPOSITS DISCRETIONARY POWERS DISCRIMINATORY TREATMENT DISTRESSED ASSETS DISTRESSED BANKS DISTRESSED FIRM DIVIDEND DIVIDEND PAYMENT DUE DILIGENCE ECONOMIC SHOCKS EMERGENCY LENDING ENFORCEMENT CAPACITY EQUITABLE TREATMENT EQUITIES ESTATE FINANCIAL ASSISTANCE FINANCIAL CONGLOMERATE FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKET FINANCIAL POLICY FINANCIAL SECTOR ASSESSMENT FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL SYSTEM STABILITY FIXED ASSETS FOREIGN BANKS FOREIGN CREDITORS FOREIGN FIRMS FRAMEWORK FOR BANK INSOLVENCY FRAUDS GENERAL INSOLVENCY LAW GOING CONCERN GOOD FAITH GOVERNMENT SECURITIES HOLDING COMPANIES HOLDING COMPANY IMPAIRED ASSETS INDIVIDUAL BANKS INDIVIDUAL LIABILITY INSIDER LENDING INSOLVENCY INSOLVENCY LAW INSOLVENCY PROBLEM INSOLVENCY PROCEEDINGS INSOLVENCY PROCESS INSOLVENT INSOLVENT BANKS INSOLVENT ESTATE INSTITUTIONAL FRAMEWORK INSURED DEPOSITS INTEREST RATE INTEREST RATES INTERNATIONAL BANK JUDICIAL REVIEW JUDICIARY JURISDICTION JURISDICTIONS LARGE CREDITORS LAWS LEGAL ACTIONS LEGAL AUTHORITY LEGAL FRAMEWORK LEGAL POWERS LEGAL PROCEEDINGS LEGAL PROTECTION LEGAL PROVISIONS LEGISLATION LENDER LENDER OF LAST RESORT LIQUID ASSETS LIQUIDATION FRAMEWORK LIQUIDATION PROCEEDINGS LIQUIDATION PROCESS LIQUIDATIONS LIQUIDATOR LIQUIDITY LIQUIDITY ASSISTANCE LIQUIDITY POSITIONS LIQUIDITY PROBLEMS LIQUIDITY RATIO LIQUIDITY RATIOS LIQUIDITY SUPPORT LOAN MANDATE MANDATES MARKET DISCIPLINE MARKET VALUE MERGER MERGERS MINIMUM CAPITAL REQUIREMENTS MINIMUM LIQUIDITY RATIO MONETARY COMPENSATION MORAL HAZARD NARROW BANKING NATIONAL BANK NEGOTIATIONS NONPERFORMING LOANS NUMBER OF BANKS OFF BALANCE SHEET OPEN BANK ORDERLY LIQUIDATION PARENT COMPANY PAYMENT OF DIVIDENDS PENALTIES PENALTY PROBLEM BANKS PROBLEM LOANS PRUDENTIAL REQUIREMENTS PUBLIC CONFIDENCE PUBLIC FINANCE PUBLIC FUNDS PUBLIC POLICY PURCHASE AND ASSUMPTION TRANSACTION RECAPITALIZATION RECOVERY OF DEBTS REGULATORY FORBEARANCE REGULATORY FRAMEWORK REGULATORY REFORM REORGANIZATION REORGANIZATION PROCEEDINGS REPAYMENT RESERVE BANK RISK MANAGEMENT RISK OF INSOLVENCY SETTLEMENT SOLVENCY SOLVENCY PROBLEMS STOCK MARKET SUBORDINATED DEBT SUBSIDIARIES SUPERVISORY ACTION SUPERVISORY AGENCIES SUPERVISORY FRAMEWORK SUPPORT TO BANKS SYSTEMIC BANKING DISTRESS SYSTEMIC CRISIS SYSTEMIC RISK TREATMENT OF CREDITORS UNION UNIVERSAL BANKING UNSECURED CREDITORS UNSECURED DEBT UNSECURED LOANS WINDING UP WINDING-UP |
| spellingShingle |
ACCOUNTING ASSET MANAGEMENT ASSET MANAGEMENT COMPANY ASSET PORTFOLIO ASSET STRIPPING ASSET VALUE BALANCE-SHEET INSOLVENT BANK ASSET BANK DEPOSITS BANK FAILURE BANK FAILURES BANK GUARANTEES BANK LIQUIDATION BANK NEGARA MALAYSIA BANKING CRISIS BANKING INDUSTRY BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKING SYSTEM ASSETS BANQUE CENTRALE DES ETATS DE L'AFRIQUE DE L'OUEST BUSINESS PLAN CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKETS CAPITAL REQUIREMENTS CASH FLOWS CASH RESERVE CENTRAL BANKS CLAIM COLLATERAL COMMERCIAL BANKS COMPANY LAW CONNECTED LENDING CONSOLIDATED SUPERVISION CONSOLIDATION CORPORATE GOVERNANCE CORRECTIVE ACTION CORRECTIVE ACTIONS COURT PROCEEDINGS CREDIT GUARANTEE CREDIT LINE CREDIT LINES CREDIT RISKS CREDITOR CREDITOR CLAIMS CREDITORS CREDITS CRIMINAL PENALTIES DATA RELIABILITY DEBT DEBT MANAGEMENT DEBT RESTRUCTURING DEBTORS DECISION-MAKING POWERS DEPOSIT DEPOSIT GUARANTEE DEPOSIT INSURANCE DEPOSIT INSURANCE AGENCY DEPOSIT INSURANCE COVERAGE DEPOSIT INSURANCE FUND DEPOSIT INSURANCE SCHEME DEPOSIT LIABILITIES DEPOSITORS DEPOSITS DISCRETIONARY POWERS DISCRIMINATORY TREATMENT DISTRESSED ASSETS DISTRESSED BANKS DISTRESSED FIRM DIVIDEND DIVIDEND PAYMENT DUE DILIGENCE ECONOMIC SHOCKS EMERGENCY LENDING ENFORCEMENT CAPACITY EQUITABLE TREATMENT EQUITIES ESTATE FINANCIAL ASSISTANCE FINANCIAL CONGLOMERATE FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKET FINANCIAL POLICY FINANCIAL SECTOR ASSESSMENT FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL SYSTEM STABILITY FIXED ASSETS FOREIGN BANKS FOREIGN CREDITORS FOREIGN FIRMS FRAMEWORK FOR BANK INSOLVENCY FRAUDS GENERAL INSOLVENCY LAW GOING CONCERN GOOD FAITH GOVERNMENT SECURITIES HOLDING COMPANIES HOLDING COMPANY IMPAIRED ASSETS INDIVIDUAL BANKS INDIVIDUAL LIABILITY INSIDER LENDING INSOLVENCY INSOLVENCY LAW INSOLVENCY PROBLEM INSOLVENCY PROCEEDINGS INSOLVENCY PROCESS INSOLVENT INSOLVENT BANKS INSOLVENT ESTATE INSTITUTIONAL FRAMEWORK INSURED DEPOSITS INTEREST RATE INTEREST RATES INTERNATIONAL BANK JUDICIAL REVIEW JUDICIARY JURISDICTION JURISDICTIONS LARGE CREDITORS LAWS LEGAL ACTIONS LEGAL AUTHORITY LEGAL FRAMEWORK LEGAL POWERS LEGAL PROCEEDINGS LEGAL PROTECTION LEGAL PROVISIONS LEGISLATION LENDER LENDER OF LAST RESORT LIQUID ASSETS LIQUIDATION FRAMEWORK LIQUIDATION PROCEEDINGS LIQUIDATION PROCESS LIQUIDATIONS LIQUIDATOR LIQUIDITY LIQUIDITY ASSISTANCE LIQUIDITY POSITIONS LIQUIDITY PROBLEMS LIQUIDITY RATIO LIQUIDITY RATIOS LIQUIDITY SUPPORT LOAN MANDATE MANDATES MARKET DISCIPLINE MARKET VALUE MERGER MERGERS MINIMUM CAPITAL REQUIREMENTS MINIMUM LIQUIDITY RATIO MONETARY COMPENSATION MORAL HAZARD NARROW BANKING NATIONAL BANK NEGOTIATIONS NONPERFORMING LOANS NUMBER OF BANKS OFF BALANCE SHEET OPEN BANK ORDERLY LIQUIDATION PARENT COMPANY PAYMENT OF DIVIDENDS PENALTIES PENALTY PROBLEM BANKS PROBLEM LOANS PRUDENTIAL REQUIREMENTS PUBLIC CONFIDENCE PUBLIC FINANCE PUBLIC FUNDS PUBLIC POLICY PURCHASE AND ASSUMPTION TRANSACTION RECAPITALIZATION RECOVERY OF DEBTS REGULATORY FORBEARANCE REGULATORY FRAMEWORK REGULATORY REFORM REORGANIZATION REORGANIZATION PROCEEDINGS REPAYMENT RESERVE BANK RISK MANAGEMENT RISK OF INSOLVENCY SETTLEMENT SOLVENCY SOLVENCY PROBLEMS STOCK MARKET SUBORDINATED DEBT SUBSIDIARIES SUPERVISORY ACTION SUPERVISORY AGENCIES SUPERVISORY FRAMEWORK SUPPORT TO BANKS SYSTEMIC BANKING DISTRESS SYSTEMIC CRISIS SYSTEMIC RISK TREATMENT OF CREDITORS UNION UNIVERSAL BANKING UNSECURED CREDITORS UNSECURED DEBT UNSECURED LOANS WINDING UP WINDING-UP International Monetary Fund World Bank Financial Sector Assessment Program : Nigeria - Crisis Management and Crisis Preparedness Frameworks |
| geographic_facet |
Africa Nigeria |
| description |
This note elaborates on the
recommendations made in the Financial Sector Assessment
Program (FSAP) for Nigeria in the areas of contingency
planning, crisis management, and bank resolution. It
summarizes the findings of the FSAP mission undertaken
during September 4 to 19, 2012 and is based upon analysis of
the relevant legal and policy documents and extensive
discussions with the authorities and private sector
representatives. The Nigerian financial system experienced a
banking crisis in 2008-2009, partly triggered by the global
financial crisis and by domestic events. The decisive crisis
response effectively stabilized the banking system, but the
challenge now is to devise a credible exit strategy and to
strengthen the resolution framework. This note is structured
as follows: chapter one sets out an overview of the banking
crisis of 2009; chapter two analyses the institutional
framework and coordination arrangements for systemic risk
monitoring, crisis management, and cross-border
coordination; chapter three assesses the approaches to
intervene with potential problem institutions at an early
stage; chapter four covers crisis management tools including
official financial support, the resolution framework, Asset
Management Corporation of Nigeria (AMCON); chapter five
reviews the deposit insurance framework; and chapter six
addresses the issue of legal protection. |
| format |
Economic & Sector Work :: Financial Sector Assessment Program (FSAP) |
| author |
International Monetary Fund World Bank |
| author_facet |
International Monetary Fund World Bank |
| author_sort |
International Monetary Fund |
| title |
Financial Sector Assessment Program : Nigeria - Crisis Management and Crisis Preparedness Frameworks |
| title_short |
Financial Sector Assessment Program : Nigeria - Crisis Management and Crisis Preparedness Frameworks |
| title_full |
Financial Sector Assessment Program : Nigeria - Crisis Management and Crisis Preparedness Frameworks |
| title_fullStr |
Financial Sector Assessment Program : Nigeria - Crisis Management and Crisis Preparedness Frameworks |
| title_full_unstemmed |
Financial Sector Assessment Program : Nigeria - Crisis Management and Crisis Preparedness Frameworks |
| title_sort |
financial sector assessment program : nigeria - crisis management and crisis preparedness frameworks |
| publisher |
World Bank, Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2013/05/18181243/nigeria-financial-sector-assessment-program http://hdl.handle.net/10986/15964 |
| _version_ |
1764431721792536576 |
| spelling |
okr-10986-159642021-04-23T14:03:23Z Financial Sector Assessment Program : Nigeria - Crisis Management and Crisis Preparedness Frameworks International Monetary Fund World Bank ACCOUNTING ASSET MANAGEMENT ASSET MANAGEMENT COMPANY ASSET PORTFOLIO ASSET STRIPPING ASSET VALUE BALANCE-SHEET INSOLVENT BANK ASSET BANK DEPOSITS BANK FAILURE BANK FAILURES BANK GUARANTEES BANK LIQUIDATION BANK NEGARA MALAYSIA BANKING CRISIS BANKING INDUSTRY BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKING SYSTEM ASSETS BANQUE CENTRALE DES ETATS DE L'AFRIQUE DE L'OUEST BUSINESS PLAN CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKETS CAPITAL REQUIREMENTS CASH FLOWS CASH RESERVE CENTRAL BANKS CLAIM COLLATERAL COMMERCIAL BANKS COMPANY LAW CONNECTED LENDING CONSOLIDATED SUPERVISION CONSOLIDATION CORPORATE GOVERNANCE CORRECTIVE ACTION CORRECTIVE ACTIONS COURT PROCEEDINGS CREDIT GUARANTEE CREDIT LINE CREDIT LINES CREDIT RISKS CREDITOR CREDITOR CLAIMS CREDITORS CREDITS CRIMINAL PENALTIES DATA RELIABILITY DEBT DEBT MANAGEMENT DEBT RESTRUCTURING DEBTORS DECISION-MAKING POWERS DEPOSIT DEPOSIT GUARANTEE DEPOSIT INSURANCE DEPOSIT INSURANCE AGENCY DEPOSIT INSURANCE COVERAGE DEPOSIT INSURANCE FUND DEPOSIT INSURANCE SCHEME DEPOSIT LIABILITIES DEPOSITORS DEPOSITS DISCRETIONARY POWERS DISCRIMINATORY TREATMENT DISTRESSED ASSETS DISTRESSED BANKS DISTRESSED FIRM DIVIDEND DIVIDEND PAYMENT DUE DILIGENCE ECONOMIC SHOCKS EMERGENCY LENDING ENFORCEMENT CAPACITY EQUITABLE TREATMENT EQUITIES ESTATE FINANCIAL ASSISTANCE FINANCIAL CONGLOMERATE FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKET FINANCIAL POLICY FINANCIAL SECTOR ASSESSMENT FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL SYSTEM STABILITY FIXED ASSETS FOREIGN BANKS FOREIGN CREDITORS FOREIGN FIRMS FRAMEWORK FOR BANK INSOLVENCY FRAUDS GENERAL INSOLVENCY LAW GOING CONCERN GOOD FAITH GOVERNMENT SECURITIES HOLDING COMPANIES HOLDING COMPANY IMPAIRED ASSETS INDIVIDUAL BANKS INDIVIDUAL LIABILITY INSIDER LENDING INSOLVENCY INSOLVENCY LAW INSOLVENCY PROBLEM INSOLVENCY PROCEEDINGS INSOLVENCY PROCESS INSOLVENT INSOLVENT BANKS INSOLVENT ESTATE INSTITUTIONAL FRAMEWORK INSURED DEPOSITS INTEREST RATE INTEREST RATES INTERNATIONAL BANK JUDICIAL REVIEW JUDICIARY JURISDICTION JURISDICTIONS LARGE CREDITORS LAWS LEGAL ACTIONS LEGAL AUTHORITY LEGAL FRAMEWORK LEGAL POWERS LEGAL PROCEEDINGS LEGAL PROTECTION LEGAL PROVISIONS LEGISLATION LENDER LENDER OF LAST RESORT LIQUID ASSETS LIQUIDATION FRAMEWORK LIQUIDATION PROCEEDINGS LIQUIDATION PROCESS LIQUIDATIONS LIQUIDATOR LIQUIDITY LIQUIDITY ASSISTANCE LIQUIDITY POSITIONS LIQUIDITY PROBLEMS LIQUIDITY RATIO LIQUIDITY RATIOS LIQUIDITY SUPPORT LOAN MANDATE MANDATES MARKET DISCIPLINE MARKET VALUE MERGER MERGERS MINIMUM CAPITAL REQUIREMENTS MINIMUM LIQUIDITY RATIO MONETARY COMPENSATION MORAL HAZARD NARROW BANKING NATIONAL BANK NEGOTIATIONS NONPERFORMING LOANS NUMBER OF BANKS OFF BALANCE SHEET OPEN BANK ORDERLY LIQUIDATION PARENT COMPANY PAYMENT OF DIVIDENDS PENALTIES PENALTY PROBLEM BANKS PROBLEM LOANS PRUDENTIAL REQUIREMENTS PUBLIC CONFIDENCE PUBLIC FINANCE PUBLIC FUNDS PUBLIC POLICY PURCHASE AND ASSUMPTION TRANSACTION RECAPITALIZATION RECOVERY OF DEBTS REGULATORY FORBEARANCE REGULATORY FRAMEWORK REGULATORY REFORM REORGANIZATION REORGANIZATION PROCEEDINGS REPAYMENT RESERVE BANK RISK MANAGEMENT RISK OF INSOLVENCY SETTLEMENT SOLVENCY SOLVENCY PROBLEMS STOCK MARKET SUBORDINATED DEBT SUBSIDIARIES SUPERVISORY ACTION SUPERVISORY AGENCIES SUPERVISORY FRAMEWORK SUPPORT TO BANKS SYSTEMIC BANKING DISTRESS SYSTEMIC CRISIS SYSTEMIC RISK TREATMENT OF CREDITORS UNION UNIVERSAL BANKING UNSECURED CREDITORS UNSECURED DEBT UNSECURED LOANS WINDING UP WINDING-UP This note elaborates on the recommendations made in the Financial Sector Assessment Program (FSAP) for Nigeria in the areas of contingency planning, crisis management, and bank resolution. It summarizes the findings of the FSAP mission undertaken during September 4 to 19, 2012 and is based upon analysis of the relevant legal and policy documents and extensive discussions with the authorities and private sector representatives. The Nigerian financial system experienced a banking crisis in 2008-2009, partly triggered by the global financial crisis and by domestic events. The decisive crisis response effectively stabilized the banking system, but the challenge now is to devise a credible exit strategy and to strengthen the resolution framework. This note is structured as follows: chapter one sets out an overview of the banking crisis of 2009; chapter two analyses the institutional framework and coordination arrangements for systemic risk monitoring, crisis management, and cross-border coordination; chapter three assesses the approaches to intervene with potential problem institutions at an early stage; chapter four covers crisis management tools including official financial support, the resolution framework, Asset Management Corporation of Nigeria (AMCON); chapter five reviews the deposit insurance framework; and chapter six addresses the issue of legal protection. 2013-10-01T16:46:11Z 2013-10-01T16:46:11Z 2013-05 http://documents.worldbank.org/curated/en/2013/05/18181243/nigeria-financial-sector-assessment-program http://hdl.handle.net/10986/15964 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work Africa Nigeria |