IMF Staff Country Reports

Senegal: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency; and Securities Supervision

October 26, 2001

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International Monetary Fund. Monetary and Capital Markets Department "Senegal: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency; and Securities Supervision", IMF Staff Country Reports 2001, 189 (2001), accessed November 21, 2024, https://doi.org/10.5089/9781451833942.002

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Summary

Senegal’s financial sector is dominated by 10 commercial banks, which account for more than 85 percent of total financial sector assets. The banking system in the country has gradually regained health and is generally well regulated and supervised. The high concentration of credit risk in bank loan portfolios is unavoidable given that banks have little scope for further portfolio diversification. Microfinance development in the country has kept pace with the dynamic evolution of this sector in the West African Economic and Monetary Union region.

Subject: Banking, Basel Core Principles, Commercial banks, Economic sectors, Financial institutions, Financial markets, Financial regulation and supervision, Financial Sector, Financial Sector Assessment Program, Financial sector policy and analysis, Loans, Market risk, Securities, Securities markets

Keywords: Africa, Bank capital, Banking system, Banque Centrale des Etats, Broad money, Capital market, CFA franc, Commercial banks, Conférence Interafricaine, CR, Credit risk, Exchange rate, Financial sector, Financial Sector Assessment Program, Financial system, Foreign exchange, Housing bank, Insider trading, Institution de Prévoyance Retraite du Sénégal, Interbank market, Interest rate, Intervention instrument, ISCR, Loans, MFP transparency code, Monetary management, Policy transparency, Publication policy, Securities, Securities markets, West Africa, World Bank mission

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