Georgia : Financial Sector Assessment Update
The Financial System Assessment (FSA) is based on the work of the joint IMF-World Bank Financial Sector Assessment Program (FSAP) Update mission to Georgia during February 15-28,2006. The principal objective of the FSAP Update was to assist the aut...
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
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Washington, DC
2012
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2007/01/7324138/georgia-financial-sector-assessment-update http://hdl.handle.net/10986/8043 |
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okr-10986-8043 |
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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 |
ACCOUNTABILITY ACCOUNTING AFFILIATE AFFILIATES AGENTS AUDITING AUDITS AUTOMATED TELLER MACHINES BALANCE SHEETS BANK ASSETS BANK AUDITS BANK FAILURES BANK SUBSIDIARIES BANK SUPERVISION BANKING LAW BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKRUPTCY BANKRUPTCY PROCEDURES BANKS BROKERS CAPITAL MARKETS CAPITAL REQUIREMENTS CAPITALIZATION CENTRAL BANK CHECKS CLEARING SYSTEMS COMMERCIAL BANKS COMMISSIONERS COMPETITIVENESS CONNECTED LENDING CONSOLIDATED SUPERVISION CONTAGION CONTINGENCY PLANNING CONTRACTUAL SAVING CONTRACTUAL SAVINGS CORPORATE BONDS CORPORATE GOVERNANCE CORPORATE SECTOR COVERAGE CREDIT CONCENTRATION CREDIT COOPERATIVES CREDIT INSTITUTIONS CREDIT RISK CREDIT RISK MANAGEMENT CREDIT UNIONS DEBT DEPOSIT INSURANCE DEPOSITS ENFORCEMENT POWERS EQUITY INVESTMENTS EXCHANGE RATES EXTERNAL AUDITORS FINANCIAL CONGLOMERATES FINANCIAL INFORMATION FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTIONS FINANCIAL REPORTING FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICES FINANCIAL STABILITY FOREIGN EXCHANGE GUIDELINES HEALTH INSURANCE INFLATION INSOLVENCY INSOLVENT BANKS INSURANCE INSURANCE COMPANIES INSURANCE SUPERVISION INSURERS INTEGRITY INTEREST RATES INTERNAL AUDITS INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS JOINT STOCK COMPANIES LAWS LEGAL FRAMEWORK LEGISLATION LENDER OF LAST RESORT LIABILITY LIABILITY INSURANCE LIFE INSURANCE LIQUIDITY MARKET RISKS MARKET TRADING MARKET TRANSPARENCY MICROFINANCE MONETARY POLICY MORTGAGES OPERATIONAL RISKS PAYMENT SYSTEMS PENALTIES PENSIONS PORTFOLIOS PREMIUMS PRIVATE BANKS PRIVATIZATION PROBLEM BANKS PROFITABILITY PROGRAMS PROPERTY INSURANCE PRUDENTIAL REQUIREMENTS PRUDENTIAL RULES PUBLIC DEBT REGULATORY FRAMEWORK RESERVE REQUIREMENT RESERVES RISK ASSESSMENT RISK-WEIGHTED ASSETS SECURITIES SECURITIES MARKETS SECURITIZATION SENSITIVITY ANALYSES SHAREHOLDERS SMALL BANKS SOLVENCY STATUTORY AUDITS STOCK EXCHANGES SUBSIDIARIES SUBSIDIARY SUPERVISORY AGENCIES SUPERVISORY AUTHORITIES SUPERVISORY FRAMEWORK SUPERVISORY REGIME SUSTAINABILITY TRADING TRANSITION ECONOMIES TRANSPARENCY VULNERABILITY |
| spellingShingle |
ACCOUNTABILITY ACCOUNTING AFFILIATE AFFILIATES AGENTS AUDITING AUDITS AUTOMATED TELLER MACHINES BALANCE SHEETS BANK ASSETS BANK AUDITS BANK FAILURES BANK SUBSIDIARIES BANK SUPERVISION BANKING LAW BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKRUPTCY BANKRUPTCY PROCEDURES BANKS BROKERS CAPITAL MARKETS CAPITAL REQUIREMENTS CAPITALIZATION CENTRAL BANK CHECKS CLEARING SYSTEMS COMMERCIAL BANKS COMMISSIONERS COMPETITIVENESS CONNECTED LENDING CONSOLIDATED SUPERVISION CONTAGION CONTINGENCY PLANNING CONTRACTUAL SAVING CONTRACTUAL SAVINGS CORPORATE BONDS CORPORATE GOVERNANCE CORPORATE SECTOR COVERAGE CREDIT CONCENTRATION CREDIT COOPERATIVES CREDIT INSTITUTIONS CREDIT RISK CREDIT RISK MANAGEMENT CREDIT UNIONS DEBT DEPOSIT INSURANCE DEPOSITS ENFORCEMENT POWERS EQUITY INVESTMENTS EXCHANGE RATES EXTERNAL AUDITORS FINANCIAL CONGLOMERATES FINANCIAL INFORMATION FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTIONS FINANCIAL REPORTING FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICES FINANCIAL STABILITY FOREIGN EXCHANGE GUIDELINES HEALTH INSURANCE INFLATION INSOLVENCY INSOLVENT BANKS INSURANCE INSURANCE COMPANIES INSURANCE SUPERVISION INSURERS INTEGRITY INTEREST RATES INTERNAL AUDITS INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS JOINT STOCK COMPANIES LAWS LEGAL FRAMEWORK LEGISLATION LENDER OF LAST RESORT LIABILITY LIABILITY INSURANCE LIFE INSURANCE LIQUIDITY MARKET RISKS MARKET TRADING MARKET TRANSPARENCY MICROFINANCE MONETARY POLICY MORTGAGES OPERATIONAL RISKS PAYMENT SYSTEMS PENALTIES PENSIONS PORTFOLIOS PREMIUMS PRIVATE BANKS PRIVATIZATION PROBLEM BANKS PROFITABILITY PROGRAMS PROPERTY INSURANCE PRUDENTIAL REQUIREMENTS PRUDENTIAL RULES PUBLIC DEBT REGULATORY FRAMEWORK RESERVE REQUIREMENT RESERVES RISK ASSESSMENT RISK-WEIGHTED ASSETS SECURITIES SECURITIES MARKETS SECURITIZATION SENSITIVITY ANALYSES SHAREHOLDERS SMALL BANKS SOLVENCY STATUTORY AUDITS STOCK EXCHANGES SUBSIDIARIES SUBSIDIARY SUPERVISORY AGENCIES SUPERVISORY AUTHORITIES SUPERVISORY FRAMEWORK SUPERVISORY REGIME SUSTAINABILITY TRADING TRANSITION ECONOMIES TRANSPARENCY VULNERABILITY World Bank Georgia : Financial Sector Assessment Update |
| geographic_facet |
Europe and Central Asia Asia Commonwealth of Independent States Eastern Europe Georgia |
| description |
The Financial System Assessment (FSA) is
based on the work of the joint IMF-World Bank Financial
Sector Assessment Program (FSAP) Update mission to Georgia
during February 15-28,2006. The principal objective of the
FSAP Update was to assist the authorities in evaluating the
potential vulnerabilities and development priorities of the
Georgian financial system. Following reviews within the IMF
and the World Bank. The report provides a summary of the
main findings and recommendations. Some of he priority
recommendations are : Crisis Management and Bank Resolution
: establish formal crisis management team and develop a
crisis management strategy and contingency plan. Financial
Sector Supervision : amend law to give the NBG authority to
establish fit and proper criteria for bank owners, to
determine the source of the owners' capital, and to
mandate changes in a bank's ownership. The same power
should also be given to insurance and securities
supervisors; also amend regulations to apply capital and
other prudential requirements on a consolidated basis; and
adopt legislation to stimulate cooperation and allow for the
sharing of information among domestic financial sector
supervisors. Financial Sector Development : develop, under
the lead of the NBG, elements of the financial sector
infrastructure, including low the value payments system and
widespread use of electronic payment instruments throughout
the country; develop a national strategy to address the lack
of financial services in large parts of the country,
especially in rural areas; and allow insurance companies to
diversify their investments. |
| format |
Economic & Sector Work :: Financial Sector Assessment Program (FSAP) |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Georgia : Financial Sector Assessment Update |
| title_short |
Georgia : Financial Sector Assessment Update |
| title_full |
Georgia : Financial Sector Assessment Update |
| title_fullStr |
Georgia : Financial Sector Assessment Update |
| title_full_unstemmed |
Georgia : Financial Sector Assessment Update |
| title_sort |
georgia : financial sector assessment update |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2007/01/7324138/georgia-financial-sector-assessment-update http://hdl.handle.net/10986/8043 |
| _version_ |
1764403741646127104 |
| spelling |
okr-10986-80432021-04-23T14:02:36Z Georgia : Financial Sector Assessment Update World Bank ACCOUNTABILITY ACCOUNTING AFFILIATE AFFILIATES AGENTS AUDITING AUDITS AUTOMATED TELLER MACHINES BALANCE SHEETS BANK ASSETS BANK AUDITS BANK FAILURES BANK SUBSIDIARIES BANK SUPERVISION BANKING LAW BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKRUPTCY BANKRUPTCY PROCEDURES BANKS BROKERS CAPITAL MARKETS CAPITAL REQUIREMENTS CAPITALIZATION CENTRAL BANK CHECKS CLEARING SYSTEMS COMMERCIAL BANKS COMMISSIONERS COMPETITIVENESS CONNECTED LENDING CONSOLIDATED SUPERVISION CONTAGION CONTINGENCY PLANNING CONTRACTUAL SAVING CONTRACTUAL SAVINGS CORPORATE BONDS CORPORATE GOVERNANCE CORPORATE SECTOR COVERAGE CREDIT CONCENTRATION CREDIT COOPERATIVES CREDIT INSTITUTIONS CREDIT RISK CREDIT RISK MANAGEMENT CREDIT UNIONS DEBT DEPOSIT INSURANCE DEPOSITS ENFORCEMENT POWERS EQUITY INVESTMENTS EXCHANGE RATES EXTERNAL AUDITORS FINANCIAL CONGLOMERATES FINANCIAL INFORMATION FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTIONS FINANCIAL REPORTING FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICES FINANCIAL STABILITY FOREIGN EXCHANGE GUIDELINES HEALTH INSURANCE INFLATION INSOLVENCY INSOLVENT BANKS INSURANCE INSURANCE COMPANIES INSURANCE SUPERVISION INSURERS INTEGRITY INTEREST RATES INTERNAL AUDITS INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS JOINT STOCK COMPANIES LAWS LEGAL FRAMEWORK LEGISLATION LENDER OF LAST RESORT LIABILITY LIABILITY INSURANCE LIFE INSURANCE LIQUIDITY MARKET RISKS MARKET TRADING MARKET TRANSPARENCY MICROFINANCE MONETARY POLICY MORTGAGES OPERATIONAL RISKS PAYMENT SYSTEMS PENALTIES PENSIONS PORTFOLIOS PREMIUMS PRIVATE BANKS PRIVATIZATION PROBLEM BANKS PROFITABILITY PROGRAMS PROPERTY INSURANCE PRUDENTIAL REQUIREMENTS PRUDENTIAL RULES PUBLIC DEBT REGULATORY FRAMEWORK RESERVE REQUIREMENT RESERVES RISK ASSESSMENT RISK-WEIGHTED ASSETS SECURITIES SECURITIES MARKETS SECURITIZATION SENSITIVITY ANALYSES SHAREHOLDERS SMALL BANKS SOLVENCY STATUTORY AUDITS STOCK EXCHANGES SUBSIDIARIES SUBSIDIARY SUPERVISORY AGENCIES SUPERVISORY AUTHORITIES SUPERVISORY FRAMEWORK SUPERVISORY REGIME SUSTAINABILITY TRADING TRANSITION ECONOMIES TRANSPARENCY VULNERABILITY The Financial System Assessment (FSA) is based on the work of the joint IMF-World Bank Financial Sector Assessment Program (FSAP) Update mission to Georgia during February 15-28,2006. The principal objective of the FSAP Update was to assist the authorities in evaluating the potential vulnerabilities and development priorities of the Georgian financial system. Following reviews within the IMF and the World Bank. The report provides a summary of the main findings and recommendations. Some of he priority recommendations are : Crisis Management and Bank Resolution : establish formal crisis management team and develop a crisis management strategy and contingency plan. Financial Sector Supervision : amend law to give the NBG authority to establish fit and proper criteria for bank owners, to determine the source of the owners' capital, and to mandate changes in a bank's ownership. The same power should also be given to insurance and securities supervisors; also amend regulations to apply capital and other prudential requirements on a consolidated basis; and adopt legislation to stimulate cooperation and allow for the sharing of information among domestic financial sector supervisors. Financial Sector Development : develop, under the lead of the NBG, elements of the financial sector infrastructure, including low the value payments system and widespread use of electronic payment instruments throughout the country; develop a national strategy to address the lack of financial services in large parts of the country, especially in rural areas; and allow insurance companies to diversify their investments. 2012-06-14T17:56:47Z 2012-06-14T17:56:47Z 2007-01 http://documents.worldbank.org/curated/en/2007/01/7324138/georgia-financial-sector-assessment-update http://hdl.handle.net/10986/8043 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 (FSAP) Economic & Sector Work Europe and Central Asia Asia Commonwealth of Independent States Eastern Europe Georgia |