Serbia and Montenegro: Serbia: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, and Payment Systems

International Monetary Fund

No 2006/096, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key finding of the Assessment Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, and Payment Systems for Serbia. The assessment reveals that the transformation of Serbia’s financial system is bringing important benefits, but there are emerging signs that the rapid pace of credit growth is beginning to erode financial stability. The main potential threat to financial stability is indirect credit risk arising from the large share of bank lending effectively denominated in foreign exchange.

Keywords: ISCR; CR; bank; NBS; state bank; market; monetary policy; bank management; bank intermediation; euro-denominated bank liability; bank pyramid schemes; market share; foreign currency; bank capital; market discipline of bank management; bank liability; bank credit; pyramid schemes; financial system; Foreign banks; Credit; State-owned banks; Commercial banks; Loans; Central and Eastern Europe; Eastern Europe (search for similar items in EconPapers)
Pages: 46
Date: 2006-03-07
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