Montenegro: Technical Assistance Report-Macroprudential Policy Framework

International Monetary Fund

No 2017/322, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Assistance Report discusses technical advice and recommendations given by the IMF mission to the authorities of Montenegro regarding establishment of a macroprudential policy framework. The macroprudential policy mandate should rest with the Central Bank of Montenegro, with enhanced accountability, given its financial stability mandate and systemic risk analytical capacity. The mandate should be explicitly spelled out in a single published document that sets out a policy framework with clear objectives and specific indicators and instruments. Accountability for macroprudential policy decisions should also be strengthened.

Keywords: ISCR; CR; CBM Policy tool; CBM staff; CBM's FSR; lending standard; assessment of the outlook; crisis simulation exercise; bank supervisor; bank-centric financial system; macroprudential policy strategy; Macroprudential policy; Financial sector stability; Systemic risk; Systemic risk assessment; Global (search for similar items in EconPapers)
Pages: 31
Date: 2017-10-19
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