Greece: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics, Banking Supervision, Insurance Supervision, Securities Regulation, and Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2006/006, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the Financial System Stability Assessment on Banking Supervision, Insurance Supervison, Securities Regulation, and Anti-Money Laundering and Combating the Financing of Terrorism for Greece. The Greek financial sector appears largely sound and resilient to potential adverse shocks. The banking system is well capitalized and profitable, with adequate liquidity, but faces challenges arising from the recent rapid credit growth that increases bank exposure to unfamiliar credit risks. Strategic and medium-term challenges include addressing legal and institutional impediments to improving competitiveness and developing new, cost-efficient sources of funding.

Keywords: ISCR; CR; bank; risk; liquidity position; bank supervision framework; commercial bank; banking system; market capitalization; insurance fund; bank liquidity; bank risk; nominal interest rate; bank resolution; Commercial banks; Loans; Credit; Anti-money laundering and combating the financing of terrorism (AML/CFT); Insurance companies; Europe (search for similar items in EconPapers)
Pages: 78
Date: 2006-01-06
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