Bosnia and Herzegovina Financial Sector Assessment

Bosnia and Herzegovina (BiH) is still dealing with the aftershocks of the global financial crisis that have weakened financial sector asset quality and profitability. System-wide solvency and liquidity indicators appear broadly sound, but significa...

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Main Authors:	World Bank, International Monetary Fund
Format:	Report
Language:	English en_US
Published:	Washington, DC 2015
Subjects:	CONSOLIDATED SUPERVISION INTERNATIONAL ACCOUNTING STANDARDS EXTERNAL AUDITORS CAPITAL MARKETS FINANCIAL SERVICES REGULATORY FRAMEWORK HOLDING COMPANIES INTEREST INCOME ACCOUNTING DEPOSITS COLLECTION AGENCIES SMALL BANKS LIQUIDATION CREDIT APPROVAL RETURN ON EQUITY BANKING INDUSTRY INTEREST FACTORING LAWS GUARANTEES PRIVATIZATION INDUSTRY BANKING SYSTEM STRATEGIES CURRENT EXPENDITURES RESERVE REQUIREMENTS SERVICES ACCOUNTING FRAMEWORK HOUSING CREDIT RISK MANAGEMENT CAPITAL ADEQUACY REORGANIZATION LOAN CLASSIFICATION ASSET MANAGEMENT SAVING CENTRAL BANKS BANKRUPTCY LEVEL PLAYING FIELD AUDITS STATE BANKS EQUITY CAPITAL SETTLEMENT SYSTEMS MORAL HAZARD PRIVATE BANKS TRANSFERS CRITERIA FINANCIAL INSTITUTIONS DEBT MARKETS BANK RESTRUCTURING CAPITAL REQUIREMENTS LEGISLATION DEPOSIT INSURANCE DEPOSIT INSURANCE COVERAGE LABOR LOANS ENTERPRISES STATE BANKING ENFORCEMENT POWERS RESERVE REQUIREMENT LEGAL FRAMEWORK FINANCE INFRASTRUCTURE TAXES BANKING SECTOR BANKS SUPERVISORY AUTHORITIES EMERGING MARKETS EQUITY INSURED DEPOSITS ACCOUNTABILITY CAPITAL WAGES AUDITORS FINANCIAL STABILITY SUBSIDIARIES LOAN LOSS PROVISIONS VALUE TAX LAWS PENSIONS DEVELOPMENT BANKS BANK EUROPEAN CENTRAL BANK CREDIT LENDER OF LAST RESORT BANKING LAWS WORKING CAPITAL CENTRAL BANK OF BOSNIA AND HERZEGOVINA FINANCIAL PERFORMANCE INTERNAL CONTROLS MANDATES SUBORDINATED DEBT MARKET DISCIPLINE FOREIGN BANKS REGULATORY FORBEARANCE SUPERVISORY AGENCIES FOREIGN EXCHANGE ASSET MANAGEMENT COMPANIES TIER 1 CAPITAL MARKET VALUE CONSOLIDATED FINANCIAL STATEMENTS VOUCHER PRIVATIZATION PROFITABILITY CREDIT RISK GOVERNANCE INSURANCE INSURANCE PREMIUMS TAXATION MICROFINANCE PRUDENTIAL REQUIREMENTS ACCOUNTING STANDARDS RISK LEGAL PROTECTION COMMERCIAL BANKS DEBT RESTRUCTURING MINISTRIES OF FINANCE CAPITAL REQUIREMENT RISK MEASUREMENT BANKING BANK MERGERS RISK MANAGEMENT LENDING LIQUIDITY RATIO BANKING SUPERVISION PROBLEM BANKS BANKING LAW KEY PERFORMANCE INDICATORS GOVERNMENTS PAYMENT SYSTEMS LIQUID ASSETS NONPERFORMING LOANS AUDITING
Online Access:	http://documents.worldbank.org/curated/en/2015/07/24782201/bosnia-herzegovina-financial-sector-assessment http://hdl.handle.net/10986/22260

id	okr-10986-22260
recordtype	oai_dc
spelling	okr-10986-222602021-04-23T14:04:08Z Bosnia and Herzegovina Financial Sector Assessment World Bank International Monetary Fund CONSOLIDATED SUPERVISION INTERNATIONAL ACCOUNTING STANDARDS EXTERNAL AUDITORS CAPITAL MARKETS FINANCIAL SERVICES REGULATORY FRAMEWORK HOLDING COMPANIES INTEREST INCOME ACCOUNTING DEPOSITS COLLECTION AGENCIES SMALL BANKS LIQUIDATION CREDIT APPROVAL RETURN ON EQUITY BANKING INDUSTRY INTEREST FACTORING LAWS GUARANTEES PRIVATIZATION INDUSTRY BANKING SYSTEM STRATEGIES CURRENT EXPENDITURES RESERVE REQUIREMENTS SERVICES ACCOUNTING FRAMEWORK HOUSING CREDIT RISK MANAGEMENT CAPITAL ADEQUACY REORGANIZATION LOAN CLASSIFICATION ASSET MANAGEMENT SAVING CENTRAL BANKS BANKRUPTCY LEVEL PLAYING FIELD AUDITS STATE BANKS EQUITY CAPITAL SETTLEMENT SYSTEMS MORAL HAZARD PRIVATE BANKS TRANSFERS CRITERIA FINANCIAL INSTITUTIONS DEBT MARKETS BANK RESTRUCTURING CAPITAL REQUIREMENTS LEGISLATION DEPOSIT INSURANCE DEPOSIT INSURANCE COVERAGE LABOR LOANS ENTERPRISES STATE BANKING ENFORCEMENT POWERS RESERVE REQUIREMENT LEGAL FRAMEWORK FINANCE INFRASTRUCTURE TAXES BANKING SECTOR BANKS SUPERVISORY AUTHORITIES EMERGING MARKETS EQUITY INSURED DEPOSITS ACCOUNTABILITY CAPITAL WAGES AUDITORS FINANCIAL STABILITY SUBSIDIARIES LOAN LOSS PROVISIONS VALUE TAX LAWS PENSIONS DEVELOPMENT BANKS BANK EUROPEAN CENTRAL BANK CREDIT LENDER OF LAST RESORT BANKING LAWS WORKING CAPITAL CENTRAL BANK OF BOSNIA AND HERZEGOVINA FINANCIAL PERFORMANCE INTERNAL CONTROLS MANDATES SUBORDINATED DEBT MARKET DISCIPLINE FOREIGN BANKS REGULATORY FORBEARANCE SUPERVISORY AGENCIES FOREIGN EXCHANGE ASSET MANAGEMENT COMPANIES TIER 1 CAPITAL MARKET VALUE CONSOLIDATED FINANCIAL STATEMENTS VOUCHER PRIVATIZATION PROFITABILITY CREDIT RISK GOVERNANCE INSURANCE INSURANCE PREMIUMS TAXATION MICROFINANCE PRUDENTIAL REQUIREMENTS ACCOUNTING STANDARDS RISK LEGAL PROTECTION COMMERCIAL BANKS DEBT RESTRUCTURING MINISTRIES OF FINANCE CAPITAL REQUIREMENT RISK MEASUREMENT BANKING BANK MERGERS RISK MANAGEMENT LENDING LIQUIDITY RATIO BANKING SUPERVISION PROBLEM BANKS BANKING LAW KEY PERFORMANCE INDICATORS GOVERNMENTS PAYMENT SYSTEMS LIQUID ASSETS NONPERFORMING LOANS AUDITING Bosnia and Herzegovina (BiH) is still dealing with the aftershocks of the global financial crisis that have weakened financial sector asset quality and profitability. System-wide solvency and liquidity indicators appear broadly sound, but significant pockets of vulnerability exist among domestically-owned banks. Banking and insurance oversight have improved since the 2006 financial sector assessment program (FSAP), but a number of important shortcomings in some segments remain. Decisive and immediate actions to deal with weak banks are critical for preserving financial stability. The legal framework governing creditor and debtor relationships is comprehensive, however neither debt resolution, businesses reorganization, nor bankruptcy liquidation work effectively. The financial reporting framework has improved recently and is substantially aligned with the acquis communautaire and harmonized between the two entities. Governance processes of state-owned banks reveal a number of concerns. There is a need to further strengthen the supervisory board selection process and internal audit functions of state banks. The Development Bank of the Federation of BiH is only partially supervised by the Banking Agency of the Federation of BiH (FBA). Specific strategies and exit plans for the Republika Srpska (RS) government’s support of the financial sector are undefined. 2015-07-20T21:15:29Z 2015-07-20T21:15:29Z 2015-06 Report http://documents.worldbank.org/curated/en/2015/07/24782201/bosnia-herzegovina-financial-sector-assessment http://hdl.handle.net/10986/22260 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Europe and Central Asia Bosnia and Herzegovina
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	CONSOLIDATED SUPERVISION INTERNATIONAL ACCOUNTING STANDARDS EXTERNAL AUDITORS CAPITAL MARKETS FINANCIAL SERVICES REGULATORY FRAMEWORK HOLDING COMPANIES INTEREST INCOME ACCOUNTING DEPOSITS COLLECTION AGENCIES SMALL BANKS LIQUIDATION CREDIT APPROVAL RETURN ON EQUITY BANKING INDUSTRY INTEREST FACTORING LAWS GUARANTEES PRIVATIZATION INDUSTRY BANKING SYSTEM STRATEGIES CURRENT EXPENDITURES RESERVE REQUIREMENTS SERVICES ACCOUNTING FRAMEWORK HOUSING CREDIT RISK MANAGEMENT CAPITAL ADEQUACY REORGANIZATION LOAN CLASSIFICATION ASSET MANAGEMENT SAVING CENTRAL BANKS BANKRUPTCY LEVEL PLAYING FIELD AUDITS STATE BANKS EQUITY CAPITAL SETTLEMENT SYSTEMS MORAL HAZARD PRIVATE BANKS TRANSFERS CRITERIA FINANCIAL INSTITUTIONS DEBT MARKETS BANK RESTRUCTURING CAPITAL REQUIREMENTS LEGISLATION DEPOSIT INSURANCE DEPOSIT INSURANCE COVERAGE LABOR LOANS ENTERPRISES STATE BANKING ENFORCEMENT POWERS RESERVE REQUIREMENT LEGAL FRAMEWORK FINANCE INFRASTRUCTURE TAXES BANKING SECTOR BANKS SUPERVISORY AUTHORITIES EMERGING MARKETS EQUITY INSURED DEPOSITS ACCOUNTABILITY CAPITAL WAGES AUDITORS FINANCIAL STABILITY SUBSIDIARIES LOAN LOSS PROVISIONS VALUE TAX LAWS PENSIONS DEVELOPMENT BANKS BANK EUROPEAN CENTRAL BANK CREDIT LENDER OF LAST RESORT BANKING LAWS WORKING CAPITAL CENTRAL BANK OF BOSNIA AND HERZEGOVINA FINANCIAL PERFORMANCE INTERNAL CONTROLS MANDATES SUBORDINATED DEBT MARKET DISCIPLINE FOREIGN BANKS REGULATORY FORBEARANCE SUPERVISORY AGENCIES FOREIGN EXCHANGE ASSET MANAGEMENT COMPANIES TIER 1 CAPITAL MARKET VALUE CONSOLIDATED FINANCIAL STATEMENTS VOUCHER PRIVATIZATION PROFITABILITY CREDIT RISK GOVERNANCE INSURANCE INSURANCE PREMIUMS TAXATION MICROFINANCE PRUDENTIAL REQUIREMENTS ACCOUNTING STANDARDS RISK LEGAL PROTECTION COMMERCIAL BANKS DEBT RESTRUCTURING MINISTRIES OF FINANCE CAPITAL REQUIREMENT RISK MEASUREMENT BANKING BANK MERGERS RISK MANAGEMENT LENDING LIQUIDITY RATIO BANKING SUPERVISION PROBLEM BANKS BANKING LAW KEY PERFORMANCE INDICATORS GOVERNMENTS PAYMENT SYSTEMS LIQUID ASSETS NONPERFORMING LOANS AUDITING
spellingShingle	CONSOLIDATED SUPERVISION INTERNATIONAL ACCOUNTING STANDARDS EXTERNAL AUDITORS CAPITAL MARKETS FINANCIAL SERVICES REGULATORY FRAMEWORK HOLDING COMPANIES INTEREST INCOME ACCOUNTING DEPOSITS COLLECTION AGENCIES SMALL BANKS LIQUIDATION CREDIT APPROVAL RETURN ON EQUITY BANKING INDUSTRY INTEREST FACTORING LAWS GUARANTEES PRIVATIZATION INDUSTRY BANKING SYSTEM STRATEGIES CURRENT EXPENDITURES RESERVE REQUIREMENTS SERVICES ACCOUNTING FRAMEWORK HOUSING CREDIT RISK MANAGEMENT CAPITAL ADEQUACY REORGANIZATION LOAN CLASSIFICATION ASSET MANAGEMENT SAVING CENTRAL BANKS BANKRUPTCY LEVEL PLAYING FIELD AUDITS STATE BANKS EQUITY CAPITAL SETTLEMENT SYSTEMS MORAL HAZARD PRIVATE BANKS TRANSFERS CRITERIA FINANCIAL INSTITUTIONS DEBT MARKETS BANK RESTRUCTURING CAPITAL REQUIREMENTS LEGISLATION DEPOSIT INSURANCE DEPOSIT INSURANCE COVERAGE LABOR LOANS ENTERPRISES STATE BANKING ENFORCEMENT POWERS RESERVE REQUIREMENT LEGAL FRAMEWORK FINANCE INFRASTRUCTURE TAXES BANKING SECTOR BANKS SUPERVISORY AUTHORITIES EMERGING MARKETS EQUITY INSURED DEPOSITS ACCOUNTABILITY CAPITAL WAGES AUDITORS FINANCIAL STABILITY SUBSIDIARIES LOAN LOSS PROVISIONS VALUE TAX LAWS PENSIONS DEVELOPMENT BANKS BANK EUROPEAN CENTRAL BANK CREDIT LENDER OF LAST RESORT BANKING LAWS WORKING CAPITAL CENTRAL BANK OF BOSNIA AND HERZEGOVINA FINANCIAL PERFORMANCE INTERNAL CONTROLS MANDATES SUBORDINATED DEBT MARKET DISCIPLINE FOREIGN BANKS REGULATORY FORBEARANCE SUPERVISORY AGENCIES FOREIGN EXCHANGE ASSET MANAGEMENT COMPANIES TIER 1 CAPITAL MARKET VALUE CONSOLIDATED FINANCIAL STATEMENTS VOUCHER PRIVATIZATION PROFITABILITY CREDIT RISK GOVERNANCE INSURANCE INSURANCE PREMIUMS TAXATION MICROFINANCE PRUDENTIAL REQUIREMENTS ACCOUNTING STANDARDS RISK LEGAL PROTECTION COMMERCIAL BANKS DEBT RESTRUCTURING MINISTRIES OF FINANCE CAPITAL REQUIREMENT RISK MEASUREMENT BANKING BANK MERGERS RISK MANAGEMENT LENDING LIQUIDITY RATIO BANKING SUPERVISION PROBLEM BANKS BANKING LAW KEY PERFORMANCE INDICATORS GOVERNMENTS PAYMENT SYSTEMS LIQUID ASSETS NONPERFORMING LOANS AUDITING World Bank International Monetary Fund Bosnia and Herzegovina Financial Sector Assessment
geographic_facet	Europe and Central Asia Bosnia and Herzegovina
description	Bosnia and Herzegovina (BiH) is still dealing with the aftershocks of the global financial crisis that have weakened financial sector asset quality and profitability. System-wide solvency and liquidity indicators appear broadly sound, but significant pockets of vulnerability exist among domestically-owned banks. Banking and insurance oversight have improved since the 2006 financial sector assessment program (FSAP), but a number of important shortcomings in some segments remain. Decisive and immediate actions to deal with weak banks are critical for preserving financial stability. The legal framework governing creditor and debtor relationships is comprehensive, however neither debt resolution, businesses reorganization, nor bankruptcy liquidation work effectively. The financial reporting framework has improved recently and is substantially aligned with the acquis communautaire and harmonized between the two entities. Governance processes of state-owned banks reveal a number of concerns. There is a need to further strengthen the supervisory board selection process and internal audit functions of state banks. The Development Bank of the Federation of BiH is only partially supervised by the Banking Agency of the Federation of BiH (FBA). Specific strategies and exit plans for the Republika Srpska (RS) government’s support of the financial sector are undefined.
format	Report
author	World Bank International Monetary Fund
author_facet	World Bank International Monetary Fund
author_sort	World Bank
title	Bosnia and Herzegovina Financial Sector Assessment
title_short	Bosnia and Herzegovina Financial Sector Assessment
title_full	Bosnia and Herzegovina Financial Sector Assessment
title_fullStr	Bosnia and Herzegovina Financial Sector Assessment
title_full_unstemmed	Bosnia and Herzegovina Financial Sector Assessment
title_sort	bosnia and herzegovina financial sector assessment
publisher	Washington, DC
publishDate	2015
url	http://documents.worldbank.org/curated/en/2015/07/24782201/bosnia-herzegovina-financial-sector-assessment http://hdl.handle.net/10986/22260
_version_	1764450659702145024

Bosnia and Herzegovina Financial Sector Assessment

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