Montenegro: Financial Sector Assessment Program-Banking Supervision and Regulation-Technical Note

International Monetary Fund

No 2016/201, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses the current status of banking supervision and regulation in Montenegro in the context of select Basel Core Principles. It provides a brief overview of the financial system structure, bank system performance, and the framework for financial oversight. Laws, regulations, and supervision have improved significantly since the 2006 Financial Sector Assessment Program to align more closely with Basel and EU requirements. The banking sector dominates the financial system and accounts for about 90 percent of financial system assets, equivalent to about 93 percent of GDP as of June 2015. There are currently 14 banks operating in Montenegro, up from 11 in 2013.

Keywords: ISCR; CR; central bank; CBM regulation; banking system; bank d; CBM supervisor; holding company; joint stock; liquidity contingency plans; risk management system; CBM state; CBM methodology; CBM analysis; CBM monitoring; CBM contingency plans; Operational risk; Credit risk; Bank risk management; Bank supervision; Stress testing; Eastern Europe; Southern Europe; Global (search for similar items in EconPapers)
Pages: 46
Date: 2016-06-28
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