Republic of San Marino: Staff Report for the 2014 Article IV Consultation

April 29, 2014

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Republic of San Marino: Staff Report for the 2014 Article IV Consultation, (USA: International Monetary Fund, 2014) accessed November 23, 2024

Summary

This 2014 Article IV Consultation on the Republic of San Marino highlights global crisis and tense relations with Italy, which triggered a 30 percent GDP contraction since 2008 and a sea change in San Marino’s off-shore banking model. High liquidity in the system allowed banks to withstand the shock to deposits. Cassa di Risparmio della Repubblica di San Marino, the largest bank, has required 13 percent of GDP in public support. The deep recession and bank recapitalization costs are weighing heavily on public finances.

Subject: Banking, Commercial banks, Creditor bail-in, Financial crises, Financial institutions, Financial regulation and supervision, Financial statistics, Government finance statistics, Loan loss provisions, Loans, Nonperforming loans

Keywords: Bank, Commercial banks, CR, Creditor bail-in, Europe, GDP, Global, Government, IMF staff calculation, ISCR, Loan loss provisions, Loans, Nonperforming loans, Sammarinese economy, Sta balance of payments statistics, Sta government finance statistics, Staff view

Publication Details

Pages:

38
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/104
Stock No:

1SMREA2014001
ISBN:

9781484358801
ISSN:

1934-7685

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