Costa Rica: Technical Assistance Report - Financial Sector Stability Review

April 2, 2018

Preview Citation

Format: Chicago

Costa Rica: Technical Assistance Report - Financial Sector Stability Review, (USA: International Monetary Fund, 2018) accessed November 21, 2024

Also available in: español

Summary

This Technical Assistance Report discusses the findings and recommendations made by the IMF mission to assist Costa Rica in delivering sound financial sector reform in support of financial stability. It was found that despite progress, the financial stability framework in Costa Rica is not well prepared to handle a potential systemic financial crisis without seriously compromising fiscal resources. Supervision of the financial sector is becoming risk-based and intensive, but it lacks key legal powers, tools, and responsibilities for the effective oversight of institutions and markets. Serious vulnerabilities in the pension sector, the secondary markets, and financial-crisis safety nets need urgent attention.

Subject: Financial sector policy and analysis, Financial sector stability, Legal support in revenue administration, Public debt, Revenue administration, Stress testing, Systemic risk

Keywords: Authority, Bank, Bank resolution process, Banking sector, Banking system, Caribbean, Central America, CR, Credit risk, Exchange rate risk, Financial sector stability, Foreign currency, Insurance market participant, ISCR, Legal support in revenue administration, Market, Market maker, Market sector, Monetary policy, Secondary market, Solvency concern, Stress testing, Systemic risk, Trading mechanism

Publication Details

Pages:

44
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/080
Stock No:

1CRIEA2018003
ISBN:

9781484347317
ISSN:

1934-7685

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