Serbia Financial Sector Assessment Program Update : Crisis Management Framework
In light of the outflow of deposits in Serbia in late 2008 and early 2009, a series of measures were introduced to urgently address stability concerns. These measures included increased deposit insurance coverage, shortened payout periods, introduc...
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| Format: | Report |
| Language: | English en_US |
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Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/513651468116045498/Serbia-Crisis-management-framework-technical-note http://hdl.handle.net/10986/28084 |
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okr-10986-28084 |
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| recordtype |
oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English en_US |
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ALL LIABILITIES ASSETS BALANCE SHEET BALANCE SHEETS BANK CRISIS BANK INTERVENTION BANK SOLVENCY BANKING SECTOR BANKING SECTOR STABILITY BLANKET GUARANTEE BLANKET GUARANTEES BOOK VALUE CAPITAL ADEQUACY CAPITAL ADEQUACY RATIO CAPITAL INJECTION CAPITAL INJECTIONS CAPITAL MARKETS CAPITAL RATIO CAPITALIZATION CENTRAL BANK CENTRAL BANKS COLLATERAL COMMITMENT LETTERS CONTINGENCY PLANNING CONTINGENT LIABILITIES CORPORATE DEBT COVERAGE LEVEL COVERAGE OF DEPOSITS CREDIBILITY CRISIS RESOLUTION DEBT ISSUE DEBT RESTRUCTURING DEPOSIT DEPOSIT COVERAGE DEPOSIT INSURANCE DEPOSIT INSURANCE AGENCY DEPOSIT INSURANCE COVERAGE DEPOSIT INSURANCE FUNDS DEPOSIT INSURANCE LAWS DEPOSIT OUTFLOW DEPOSIT REPAYMENTS DEPOSITOR DEPOSITORS DEPOSITS DOWNSIDE SCENARIO EMERGENCY LIQUIDITY ASSISTANCE ENTREPRENEURS EXCESSIVE RISK EXISTING LEGAL FRAMEWORK FEDERAL DEPOSIT INSURANCE FEDERAL DEPOSIT INSURANCE ACT FINANCIAL ASSISTANCE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL RESOURCES FINANCIAL SECTOR ASSESSMENT FINANCIAL SYSTEM FISCAL CAPACITY FOREIGN BANKS FOREIGN EXCHANGE HOST COUNTRY HUMAN RESOURCES INDIVIDUAL BANK INFORMATION SHARING INSOLVENT INSOLVENT BANKS INSTITUTIONAL ARRANGEMENTS INSURANCE AGENCY INSURED DEPOSITORS INTEREST RATE INTERNATIONAL BANK ISSUANCE ISSUANCE OF GUARANTEES JURISDICTIONS LAW ON DEPOSIT INSURANCE LAWS LEGAL DRAFTING LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGAL IMPEDIMENTS LEGAL PROVISIONS LENDER LENDER OF LAST RESORT LENDERS LIABILITY LIQUIDITY LIQUIDITY ASSISTANCE LIQUIDITY PROVISION LOAN LOAN LOSS LOAN LOSS PROVISIONING LOAN MARKET LOAN MATURITY LOAN PORTFOLIO LOAN PORTFOLIOS LOCAL BANKS LOCAL CURRENCY MARKET CONFIDENCE MARKET FOR LOANS MARKET PARTICIPANTS MARKET SHARE MARKET VALUE MATURITIES MATURITY MONETARY FUND MORAL HAZARD MORTGAGES NATIONAL SECURITY NATURAL DISASTERS PANIC PENALTY POLICY RESPONSES POOL OF FUNDS PRIVATE FUNDING PROVISION OF LIQUIDITY PUBLIC INFORMATION RECAPITALIZATION RECEIVABLES RECEIVERSHIP REPAYMENTS RESERVES RISK ASSESSMENT RISK ASSESSMENTS RISK MANAGEMENT SECONDARY MARKET SECURITIES SHAREHOLDERS SOLVENCY SUBORDINATED DEBT SUBSIDIARIES SWAP SWAPS SYSTEMIC CRISIS SYSTEMIC FINANCIAL CRISES SYSTEMIC RISK WORKOUT |
| spellingShingle |
ALL LIABILITIES ASSETS BALANCE SHEET BALANCE SHEETS BANK CRISIS BANK INTERVENTION BANK SOLVENCY BANKING SECTOR BANKING SECTOR STABILITY BLANKET GUARANTEE BLANKET GUARANTEES BOOK VALUE CAPITAL ADEQUACY CAPITAL ADEQUACY RATIO CAPITAL INJECTION CAPITAL INJECTIONS CAPITAL MARKETS CAPITAL RATIO CAPITALIZATION CENTRAL BANK CENTRAL BANKS COLLATERAL COMMITMENT LETTERS CONTINGENCY PLANNING CONTINGENT LIABILITIES CORPORATE DEBT COVERAGE LEVEL COVERAGE OF DEPOSITS CREDIBILITY CRISIS RESOLUTION DEBT ISSUE DEBT RESTRUCTURING DEPOSIT DEPOSIT COVERAGE DEPOSIT INSURANCE DEPOSIT INSURANCE AGENCY DEPOSIT INSURANCE COVERAGE DEPOSIT INSURANCE FUNDS DEPOSIT INSURANCE LAWS DEPOSIT OUTFLOW DEPOSIT REPAYMENTS DEPOSITOR DEPOSITORS DEPOSITS DOWNSIDE SCENARIO EMERGENCY LIQUIDITY ASSISTANCE ENTREPRENEURS EXCESSIVE RISK EXISTING LEGAL FRAMEWORK FEDERAL DEPOSIT INSURANCE FEDERAL DEPOSIT INSURANCE ACT FINANCIAL ASSISTANCE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL RESOURCES FINANCIAL SECTOR ASSESSMENT FINANCIAL SYSTEM FISCAL CAPACITY FOREIGN BANKS FOREIGN EXCHANGE HOST COUNTRY HUMAN RESOURCES INDIVIDUAL BANK INFORMATION SHARING INSOLVENT INSOLVENT BANKS INSTITUTIONAL ARRANGEMENTS INSURANCE AGENCY INSURED DEPOSITORS INTEREST RATE INTERNATIONAL BANK ISSUANCE ISSUANCE OF GUARANTEES JURISDICTIONS LAW ON DEPOSIT INSURANCE LAWS LEGAL DRAFTING LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGAL IMPEDIMENTS LEGAL PROVISIONS LENDER LENDER OF LAST RESORT LENDERS LIABILITY LIQUIDITY LIQUIDITY ASSISTANCE LIQUIDITY PROVISION LOAN LOAN LOSS LOAN LOSS PROVISIONING LOAN MARKET LOAN MATURITY LOAN PORTFOLIO LOAN PORTFOLIOS LOCAL BANKS LOCAL CURRENCY MARKET CONFIDENCE MARKET FOR LOANS MARKET PARTICIPANTS MARKET SHARE MARKET VALUE MATURITIES MATURITY MONETARY FUND MORAL HAZARD MORTGAGES NATIONAL SECURITY NATURAL DISASTERS PANIC PENALTY POLICY RESPONSES POOL OF FUNDS PRIVATE FUNDING PROVISION OF LIQUIDITY PUBLIC INFORMATION RECAPITALIZATION RECEIVABLES RECEIVERSHIP REPAYMENTS RESERVES RISK ASSESSMENT RISK ASSESSMENTS RISK MANAGEMENT SECONDARY MARKET SECURITIES SHAREHOLDERS SOLVENCY SUBORDINATED DEBT SUBSIDIARIES SWAP SWAPS SYSTEMIC CRISIS SYSTEMIC FINANCIAL CRISES SYSTEMIC RISK WORKOUT International Monetary Fund World Bank Serbia Financial Sector Assessment Program Update : Crisis Management Framework |
| geographic_facet |
Europe and Central Asia Serbia |
| description |
In light of the outflow of deposits in
Serbia in late 2008 and early 2009, a series of measures
were introduced to urgently address stability concerns.
These measures included increased deposit insurance
coverage, shortened payout periods, introduction of
regulations on lenders of last report (LoLR) and new
liquidity lines, and the possibility for the Deposit
Insurance Agency (DIA) to purchase shares of insolvent banks
under instruction from the Government of Serbia (GoS). At
the time, it was understood that, once stability returned,
it will be prudent to have a crisis management framework in
place to address systemic financial crises at all times,
much like some countries have a framework to deal with
natural disasters. The new framework will seek to minimize
the need for ad hoc measures during crises and limit the
need for the authorities to take measures that are
technically illegal. Because of the lack of such crisis
provisions, in several past crises, ministers and governors
were forced by deteriorating events to take measures for
which they had no authority, leaving the passage of
appropriate regulation or laws to the aftermath of the
crisis. This technical note has been prepared in the context
of the initiative, primarily spearheaded by the National
Bank of Serbia (NBS), to develop a contingency management
framework. In particular, the note discusses the key
elements of such a framework, explores how the NBS and other
countries are tackling such contingency planning. |
| format |
Report |
| author |
International Monetary Fund World Bank |
| author_facet |
International Monetary Fund World Bank |
| author_sort |
International Monetary Fund |
| title |
Serbia Financial Sector Assessment Program Update : Crisis Management Framework |
| title_short |
Serbia Financial Sector Assessment Program Update : Crisis Management Framework |
| title_full |
Serbia Financial Sector Assessment Program Update : Crisis Management Framework |
| title_fullStr |
Serbia Financial Sector Assessment Program Update : Crisis Management Framework |
| title_full_unstemmed |
Serbia Financial Sector Assessment Program Update : Crisis Management Framework |
| title_sort |
serbia financial sector assessment program update : crisis management framework |
| publisher |
Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/513651468116045498/Serbia-Crisis-management-framework-technical-note http://hdl.handle.net/10986/28084 |
| _version_ |
1764464760348213248 |
| spelling |
okr-10986-280842021-04-23T14:04:43Z Serbia Financial Sector Assessment Program Update : Crisis Management Framework International Monetary Fund World Bank ALL LIABILITIES ASSETS BALANCE SHEET BALANCE SHEETS BANK CRISIS BANK INTERVENTION BANK SOLVENCY BANKING SECTOR BANKING SECTOR STABILITY BLANKET GUARANTEE BLANKET GUARANTEES BOOK VALUE CAPITAL ADEQUACY CAPITAL ADEQUACY RATIO CAPITAL INJECTION CAPITAL INJECTIONS CAPITAL MARKETS CAPITAL RATIO CAPITALIZATION CENTRAL BANK CENTRAL BANKS COLLATERAL COMMITMENT LETTERS CONTINGENCY PLANNING CONTINGENT LIABILITIES CORPORATE DEBT COVERAGE LEVEL COVERAGE OF DEPOSITS CREDIBILITY CRISIS RESOLUTION DEBT ISSUE DEBT RESTRUCTURING DEPOSIT DEPOSIT COVERAGE DEPOSIT INSURANCE DEPOSIT INSURANCE AGENCY DEPOSIT INSURANCE COVERAGE DEPOSIT INSURANCE FUNDS DEPOSIT INSURANCE LAWS DEPOSIT OUTFLOW DEPOSIT REPAYMENTS DEPOSITOR DEPOSITORS DEPOSITS DOWNSIDE SCENARIO EMERGENCY LIQUIDITY ASSISTANCE ENTREPRENEURS EXCESSIVE RISK EXISTING LEGAL FRAMEWORK FEDERAL DEPOSIT INSURANCE FEDERAL DEPOSIT INSURANCE ACT FINANCIAL ASSISTANCE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL RESOURCES FINANCIAL SECTOR ASSESSMENT FINANCIAL SYSTEM FISCAL CAPACITY FOREIGN BANKS FOREIGN EXCHANGE HOST COUNTRY HUMAN RESOURCES INDIVIDUAL BANK INFORMATION SHARING INSOLVENT INSOLVENT BANKS INSTITUTIONAL ARRANGEMENTS INSURANCE AGENCY INSURED DEPOSITORS INTEREST RATE INTERNATIONAL BANK ISSUANCE ISSUANCE OF GUARANTEES JURISDICTIONS LAW ON DEPOSIT INSURANCE LAWS LEGAL DRAFTING LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGAL IMPEDIMENTS LEGAL PROVISIONS LENDER LENDER OF LAST RESORT LENDERS LIABILITY LIQUIDITY LIQUIDITY ASSISTANCE LIQUIDITY PROVISION LOAN LOAN LOSS LOAN LOSS PROVISIONING LOAN MARKET LOAN MATURITY LOAN PORTFOLIO LOAN PORTFOLIOS LOCAL BANKS LOCAL CURRENCY MARKET CONFIDENCE MARKET FOR LOANS MARKET PARTICIPANTS MARKET SHARE MARKET VALUE MATURITIES MATURITY MONETARY FUND MORAL HAZARD MORTGAGES NATIONAL SECURITY NATURAL DISASTERS PANIC PENALTY POLICY RESPONSES POOL OF FUNDS PRIVATE FUNDING PROVISION OF LIQUIDITY PUBLIC INFORMATION RECAPITALIZATION RECEIVABLES RECEIVERSHIP REPAYMENTS RESERVES RISK ASSESSMENT RISK ASSESSMENTS RISK MANAGEMENT SECONDARY MARKET SECURITIES SHAREHOLDERS SOLVENCY SUBORDINATED DEBT SUBSIDIARIES SWAP SWAPS SYSTEMIC CRISIS SYSTEMIC FINANCIAL CRISES SYSTEMIC RISK WORKOUT In light of the outflow of deposits in Serbia in late 2008 and early 2009, a series of measures were introduced to urgently address stability concerns. These measures included increased deposit insurance coverage, shortened payout periods, introduction of regulations on lenders of last report (LoLR) and new liquidity lines, and the possibility for the Deposit Insurance Agency (DIA) to purchase shares of insolvent banks under instruction from the Government of Serbia (GoS). At the time, it was understood that, once stability returned, it will be prudent to have a crisis management framework in place to address systemic financial crises at all times, much like some countries have a framework to deal with natural disasters. The new framework will seek to minimize the need for ad hoc measures during crises and limit the need for the authorities to take measures that are technically illegal. Because of the lack of such crisis provisions, in several past crises, ministers and governors were forced by deteriorating events to take measures for which they had no authority, leaving the passage of appropriate regulation or laws to the aftermath of the crisis. This technical note has been prepared in the context of the initiative, primarily spearheaded by the National Bank of Serbia (NBS), to develop a contingency management framework. In particular, the note discusses the key elements of such a framework, explores how the NBS and other countries are tackling such contingency planning. 2017-08-29T20:13:14Z 2017-08-29T20:13:14Z 2009-10 Report http://documents.worldbank.org/curated/en/513651468116045498/Serbia-Crisis-management-framework-technical-note http://hdl.handle.net/10986/28084 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Economic & Sector Work :: Financial Sector Assessment Program Economic & Sector Work Europe and Central Asia Serbia |