Financial Sector Assessment Program : Montenegro Financial Infrastructure
Financial infrastructure is the underlying foundation of a country’s financial system. It comprises all institutions, the rules, and standards of all the systems which enable financial intermediation. The quality of a country’s financial infrastruc...
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| Format: | Report |
| Language: | English en_US |
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World Bank, Washington, DC
2016
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2016/04/26216776/montenegro-financial-infrastructure-technical-note http://hdl.handle.net/10986/24126 |
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okr-10986-24126 |
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| recordtype |
oai_dc |
| 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 |
AUCTION MONETARY POLICY HOLDING ACCOUNTING DEPOSITS PAYMENT SERVICE DEFAULTS CONFLICT OF INTEREST VALUATION INTEREST OPTION REMITTANCE GROSS SETTLEMENT SYSTEM REVENUES LIQUIDITY RISK LOAN FRAUDS BORROWERS BANKRUPTCY CENTRAL SECURITIES DEPOSITORY INSTRUMENTS MARKET INFRASTRUCTURES POST OFFICE NETWORK MARKET PARTICIPANTS AMOUNT OF CAPITAL LIEN BENEFICIARY CURRENCY FINANCIAL INSTITUTION SETTLEMENT SYSTEMS COMMERCIAL BANK SETTLEMENT DATE SETTLEMENT OF TRANSACTIONS INVESTMENT FUNDS MONETARY FUND FINANCIAL INSTITUTIONS DEBT MARKETS SETTLEMENT DEPOSITARY AGENCY BANK CREDIT RESERVE REQUIREMENT LEGAL FRAMEWORK MARKET TRANSACTIONS INTERNATIONAL FINANCIAL INSTITUTIONS BROKERS TRANSACTIONS MARKET ECONOMY IPO DEPOSITORS AUCTIONS INTERNATIONAL STANDARDS ELECTRONIC AUCTION TRANSPARENCY MARKET CAPITALIZATION MARKET CONDITIONS TURNOVER FUTURE LENDER OF LAST RESORT TREASURY BILLS EXCHANGES CAPITALIZATION DEBT SECURITIES ISSUANCE SHARES T-BILLS LOCAL CURRENCY MONEY MARKETS SUPERVISION OF BANKS INDIVIDUAL SECURITIES SECURITIES TREASURY FINANCIAL INFRASTRUCTURE CREDIT RISK INSURANCE SHAREHOLDERS ECONOMIC DEVELOPMENT GOVERNMENT BONDS ACCOUNTING STANDARDS CENTRAL DEPOSITORY COMMERCIAL BANKS COUPON POST OFFICES SUPERVISORY AGENCY INSURANCE COMPANIES MATURITIES REMITTANCES FINANCIAL SYSTEMS ACCOUNT HOLDER PAYMENT SYSTEMS SHORT-TERM LIQUIDITY STOCK EXCHANGES ACCOUNT HOLDERS TARIFFS DEPOSIT CAPITAL MARKETS REGULATORY FRAMEWORK SETTLEMENT OF TRADES CREDIT CARDS STOCK REGULATORY STANDARDS INTEREST RATE MATURITY DATE EXCHANGE PROPERTY RIGHTS BANKING SYSTEM BALANCE OF PAYMENTS PAYMENT SYSTEM LIQUIDITY BANK ACCOUNT CORPORATE SECURITIES SECURITIES TRANSACTIONS CDS SECONDARY MARKET TRANSACTIONS FINANCIAL STATEMENTS BONDS CLEARING HOUSE REMITTANCE SERVICES TAX INCOME TAX MARKET INFRASTRUCTURE CENTRAL BANKS RESERVE BENEFICIARIES PENSION LENDER SETTLEMENT OBLIGATIONS REGULATORY AUTHORITIES CENTRAL BANK MATURITY EXCHANGE COMMISSION SECURITIES MARKET CONTRACTS PAYMENT OF PRINCIPAL GUARANTEE FUND TRADING PAYMENT ORDERS LENDERS LOANS SETTLEMENT SYSTEM RESERVES FINANCIAL SYSTEM AMOUNT OF COLLATERAL CASH TRANSFERS FINANCE FOREIGN CURRENCY BROKER TAXES CUSTODY GOVERNMENT SECURITIES EQUITY TRANSACTION SECURITIES MARKETS FRAUD FINANCIAL STABILITY GOVERNANCE ISSUES PAYMENT OBLIGATION MARKET TRADES PENSIONS RETURNS CONTRACT BIDS PROPERTY PROPERTIES VALUE PAYMENT SYSTEMS BALANCE SHEET DEFAULT MARKET BANK ACCOUNTS CLEARING HOUSES CORPORATE BONDS TRADING SYSTEM SECURITIES EXCHANGE SECURITY FINANCIAL MARKET DEBT INSTRUMENTS STOCKS INVESTMENT STOCK EXCHANGE BOND HUMAN RESOURCES SHARE INTERNAL AUDIT COLLATERAL PAYMENT SERVICES FINANCIAL INFORMATION REMITTANCE SERVICE TARIFF BID MONEY MARKET PAYMENT_SERVICE PROFIT OUTSTANDING AMOUNT RISK MANAGEMENT CHECK COUPON PAYMENTS INSTRUMENT SECURITIES LAW SECONDARY MARKET COLLATERAL AMOUNT POST OFFICE INTERNATIONAL SETTLEMENTS JOINT STOCK COMPANY CREDIT INSTITUTIONS GUARANTEE BOOK ENTRY CORPORATE GOVERNANCE |
| spellingShingle |
AUCTION MONETARY POLICY HOLDING ACCOUNTING DEPOSITS PAYMENT SERVICE DEFAULTS CONFLICT OF INTEREST VALUATION INTEREST OPTION REMITTANCE GROSS SETTLEMENT SYSTEM REVENUES LIQUIDITY RISK LOAN FRAUDS BORROWERS BANKRUPTCY CENTRAL SECURITIES DEPOSITORY INSTRUMENTS MARKET INFRASTRUCTURES POST OFFICE NETWORK MARKET PARTICIPANTS AMOUNT OF CAPITAL LIEN BENEFICIARY CURRENCY FINANCIAL INSTITUTION SETTLEMENT SYSTEMS COMMERCIAL BANK SETTLEMENT DATE SETTLEMENT OF TRANSACTIONS INVESTMENT FUNDS MONETARY FUND FINANCIAL INSTITUTIONS DEBT MARKETS SETTLEMENT DEPOSITARY AGENCY BANK CREDIT RESERVE REQUIREMENT LEGAL FRAMEWORK MARKET TRANSACTIONS INTERNATIONAL FINANCIAL INSTITUTIONS BROKERS TRANSACTIONS MARKET ECONOMY IPO DEPOSITORS AUCTIONS INTERNATIONAL STANDARDS ELECTRONIC AUCTION TRANSPARENCY MARKET CAPITALIZATION MARKET CONDITIONS TURNOVER FUTURE LENDER OF LAST RESORT TREASURY BILLS EXCHANGES CAPITALIZATION DEBT SECURITIES ISSUANCE SHARES T-BILLS LOCAL CURRENCY MONEY MARKETS SUPERVISION OF BANKS INDIVIDUAL SECURITIES SECURITIES TREASURY FINANCIAL INFRASTRUCTURE CREDIT RISK INSURANCE SHAREHOLDERS ECONOMIC DEVELOPMENT GOVERNMENT BONDS ACCOUNTING STANDARDS CENTRAL DEPOSITORY COMMERCIAL BANKS COUPON POST OFFICES SUPERVISORY AGENCY INSURANCE COMPANIES MATURITIES REMITTANCES FINANCIAL SYSTEMS ACCOUNT HOLDER PAYMENT SYSTEMS SHORT-TERM LIQUIDITY STOCK EXCHANGES ACCOUNT HOLDERS TARIFFS DEPOSIT CAPITAL MARKETS REGULATORY FRAMEWORK SETTLEMENT OF TRADES CREDIT CARDS STOCK REGULATORY STANDARDS INTEREST RATE MATURITY DATE EXCHANGE PROPERTY RIGHTS BANKING SYSTEM BALANCE OF PAYMENTS PAYMENT SYSTEM LIQUIDITY BANK ACCOUNT CORPORATE SECURITIES SECURITIES TRANSACTIONS CDS SECONDARY MARKET TRANSACTIONS FINANCIAL STATEMENTS BONDS CLEARING HOUSE REMITTANCE SERVICES TAX INCOME TAX MARKET INFRASTRUCTURE CENTRAL BANKS RESERVE BENEFICIARIES PENSION LENDER SETTLEMENT OBLIGATIONS REGULATORY AUTHORITIES CENTRAL BANK MATURITY EXCHANGE COMMISSION SECURITIES MARKET CONTRACTS PAYMENT OF PRINCIPAL GUARANTEE FUND TRADING PAYMENT ORDERS LENDERS LOANS SETTLEMENT SYSTEM RESERVES FINANCIAL SYSTEM AMOUNT OF COLLATERAL CASH TRANSFERS FINANCE FOREIGN CURRENCY BROKER TAXES CUSTODY GOVERNMENT SECURITIES EQUITY TRANSACTION SECURITIES MARKETS FRAUD FINANCIAL STABILITY GOVERNANCE ISSUES PAYMENT OBLIGATION MARKET TRADES PENSIONS RETURNS CONTRACT BIDS PROPERTY PROPERTIES VALUE PAYMENT SYSTEMS BALANCE SHEET DEFAULT MARKET BANK ACCOUNTS CLEARING HOUSES CORPORATE BONDS TRADING SYSTEM SECURITIES EXCHANGE SECURITY FINANCIAL MARKET DEBT INSTRUMENTS STOCKS INVESTMENT STOCK EXCHANGE BOND HUMAN RESOURCES SHARE INTERNAL AUDIT COLLATERAL PAYMENT SERVICES FINANCIAL INFORMATION REMITTANCE SERVICE TARIFF BID MONEY MARKET PAYMENT_SERVICE PROFIT OUTSTANDING AMOUNT RISK MANAGEMENT CHECK COUPON PAYMENTS INSTRUMENT SECURITIES LAW SECONDARY MARKET COLLATERAL AMOUNT POST OFFICE INTERNATIONAL SETTLEMENTS JOINT STOCK COMPANY CREDIT INSTITUTIONS GUARANTEE BOOK ENTRY CORPORATE GOVERNANCE World Bank International Monetary Fund Financial Sector Assessment Program : Montenegro Financial Infrastructure |
| geographic_facet |
Europe and Central Asia Montenegro |
| description |
Financial infrastructure is the
underlying foundation of a country’s financial system. It
comprises all institutions, the rules, and standards of all
the systems which enable financial intermediation. The
quality of a country’s financial infrastructure determines
the efficiency of intermediation, the ability of lenders to
evaluate risk and of borrowers to obtain credit, insurance,
and other financial products at competitive terms. For
instance, the efficient and smooth functioning of the
payment, and securities settlement systems facilitates the
discharge of financial obligations and the safe transfer of
funds across distances and institutions; hence, it support
the stability of the financial system. This technical note
contains the assessment of the national payment and
settlement systems (NPS) infrastructure in Montenegro. The
assessment was undertaken in the context of the IMF and
World Bank (WB) joint Financial Sector Assessment Program
(FSAP) mission to Montenegro during September 1-15, 2015.
The assessor was Gynedi Srinivas of the World Bank’s Payment
Systems Development Group. The assessor will like to thank
the counterparts in Montenegro for their excellent
cooperation and hospitality during the mission. |
| format |
Report |
| author |
World Bank International Monetary Fund |
| author_facet |
World Bank International Monetary Fund |
| author_sort |
World Bank |
| title |
Financial Sector Assessment Program : Montenegro Financial Infrastructure |
| title_short |
Financial Sector Assessment Program : Montenegro Financial Infrastructure |
| title_full |
Financial Sector Assessment Program : Montenegro Financial Infrastructure |
| title_fullStr |
Financial Sector Assessment Program : Montenegro Financial Infrastructure |
| title_full_unstemmed |
Financial Sector Assessment Program : Montenegro Financial Infrastructure |
| title_sort |
financial sector assessment program : montenegro financial infrastructure |
| publisher |
World Bank, Washington, DC |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2016/04/26216776/montenegro-financial-infrastructure-technical-note http://hdl.handle.net/10986/24126 |
| _version_ |
1764455715639918592 |
| spelling |
okr-10986-241262021-05-25T10:54:44Z Financial Sector Assessment Program : Montenegro Financial Infrastructure World Bank International Monetary Fund AUCTION MONETARY POLICY HOLDING ACCOUNTING DEPOSITS PAYMENT SERVICE DEFAULTS CONFLICT OF INTEREST VALUATION INTEREST OPTION REMITTANCE GROSS SETTLEMENT SYSTEM REVENUES LIQUIDITY RISK LOAN FRAUDS BORROWERS BANKRUPTCY CENTRAL SECURITIES DEPOSITORY INSTRUMENTS MARKET INFRASTRUCTURES POST OFFICE NETWORK MARKET PARTICIPANTS AMOUNT OF CAPITAL LIEN BENEFICIARY CURRENCY FINANCIAL INSTITUTION SETTLEMENT SYSTEMS COMMERCIAL BANK SETTLEMENT DATE SETTLEMENT OF TRANSACTIONS INVESTMENT FUNDS MONETARY FUND FINANCIAL INSTITUTIONS DEBT MARKETS SETTLEMENT DEPOSITARY AGENCY BANK CREDIT RESERVE REQUIREMENT LEGAL FRAMEWORK MARKET TRANSACTIONS INTERNATIONAL FINANCIAL INSTITUTIONS BROKERS TRANSACTIONS MARKET ECONOMY IPO DEPOSITORS AUCTIONS INTERNATIONAL STANDARDS ELECTRONIC AUCTION TRANSPARENCY MARKET CAPITALIZATION MARKET CONDITIONS TURNOVER FUTURE LENDER OF LAST RESORT TREASURY BILLS EXCHANGES CAPITALIZATION DEBT SECURITIES ISSUANCE SHARES T-BILLS LOCAL CURRENCY MONEY MARKETS SUPERVISION OF BANKS INDIVIDUAL SECURITIES SECURITIES TREASURY FINANCIAL INFRASTRUCTURE CREDIT RISK INSURANCE SHAREHOLDERS ECONOMIC DEVELOPMENT GOVERNMENT BONDS ACCOUNTING STANDARDS CENTRAL DEPOSITORY COMMERCIAL BANKS COUPON POST OFFICES SUPERVISORY AGENCY INSURANCE COMPANIES MATURITIES REMITTANCES FINANCIAL SYSTEMS ACCOUNT HOLDER PAYMENT SYSTEMS SHORT-TERM LIQUIDITY STOCK EXCHANGES ACCOUNT HOLDERS TARIFFS DEPOSIT CAPITAL MARKETS REGULATORY FRAMEWORK SETTLEMENT OF TRADES CREDIT CARDS STOCK REGULATORY STANDARDS INTEREST RATE MATURITY DATE EXCHANGE PROPERTY RIGHTS BANKING SYSTEM BALANCE OF PAYMENTS PAYMENT SYSTEM LIQUIDITY BANK ACCOUNT CORPORATE SECURITIES SECURITIES TRANSACTIONS CDS SECONDARY MARKET TRANSACTIONS FINANCIAL STATEMENTS BONDS CLEARING HOUSE REMITTANCE SERVICES TAX INCOME TAX MARKET INFRASTRUCTURE CENTRAL BANKS RESERVE BENEFICIARIES PENSION LENDER SETTLEMENT OBLIGATIONS REGULATORY AUTHORITIES CENTRAL BANK MATURITY EXCHANGE COMMISSION SECURITIES MARKET CONTRACTS PAYMENT OF PRINCIPAL GUARANTEE FUND TRADING PAYMENT ORDERS LENDERS LOANS SETTLEMENT SYSTEM RESERVES FINANCIAL SYSTEM AMOUNT OF COLLATERAL CASH TRANSFERS FINANCE FOREIGN CURRENCY BROKER TAXES CUSTODY GOVERNMENT SECURITIES EQUITY TRANSACTION SECURITIES MARKETS FRAUD FINANCIAL STABILITY GOVERNANCE ISSUES PAYMENT OBLIGATION MARKET TRADES PENSIONS RETURNS CONTRACT BIDS PROPERTY PROPERTIES VALUE PAYMENT SYSTEMS BALANCE SHEET DEFAULT MARKET BANK ACCOUNTS CLEARING HOUSES CORPORATE BONDS TRADING SYSTEM SECURITIES EXCHANGE SECURITY FINANCIAL MARKET DEBT INSTRUMENTS STOCKS INVESTMENT STOCK EXCHANGE BOND HUMAN RESOURCES SHARE INTERNAL AUDIT COLLATERAL PAYMENT SERVICES FINANCIAL INFORMATION REMITTANCE SERVICE TARIFF BID MONEY MARKET PAYMENT_SERVICE PROFIT OUTSTANDING AMOUNT RISK MANAGEMENT CHECK COUPON PAYMENTS INSTRUMENT SECURITIES LAW SECONDARY MARKET COLLATERAL AMOUNT POST OFFICE INTERNATIONAL SETTLEMENTS JOINT STOCK COMPANY CREDIT INSTITUTIONS GUARANTEE BOOK ENTRY CORPORATE GOVERNANCE Financial infrastructure is the underlying foundation of a country’s financial system. It comprises all institutions, the rules, and standards of all the systems which enable financial intermediation. The quality of a country’s financial infrastructure determines the efficiency of intermediation, the ability of lenders to evaluate risk and of borrowers to obtain credit, insurance, and other financial products at competitive terms. For instance, the efficient and smooth functioning of the payment, and securities settlement systems facilitates the discharge of financial obligations and the safe transfer of funds across distances and institutions; hence, it support the stability of the financial system. This technical note contains the assessment of the national payment and settlement systems (NPS) infrastructure in Montenegro. The assessment was undertaken in the context of the IMF and World Bank (WB) joint Financial Sector Assessment Program (FSAP) mission to Montenegro during September 1-15, 2015. The assessor was Gynedi Srinivas of the World Bank’s Payment Systems Development Group. The assessor will like to thank the counterparts in Montenegro for their excellent cooperation and hospitality during the mission. 2016-04-25T18:43:23Z 2016-04-25T18:43:23Z 2016-01 Report http://documents.worldbank.org/curated/en/2016/04/26216776/montenegro-financial-infrastructure-technical-note http://hdl.handle.net/10986/24126 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 Economic & Sector Work :: Financial Sector Assessment Program Europe and Central Asia Montenegro |