Montenegro: Financial Sector Assessment Program-Financial Crisis Preparedness and Management-Technical Note

June 28, 2016

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Montenegro: Financial Sector Assessment Program-Financial Crisis Preparedness and Management-Technical Note, (USA: International Monetary Fund, 2016) accessed November 22, 2024

Summary

This paper provides assessment of the crisis preparedness and management framework of Montenegro. 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. In 2010 the Financial Stability Council (FSC) was established to maintain financial system stability and avoid financial distress. FSC members are the Central Bank of Montenegro (CBM) governor (chair), the minister of finance, the president of the Insurance Supervision Agency Council, and the Securities and Exchange Commission president. The CBM functions as the de facto resolution authority for banks.

Subject: Bank deposits, Bank resolution, Bank resolution framework, Banking, Contingency planning, Crisis management, Financial crises, Lender of last resort

Keywords: Bank bankruptcy law, Bank resolution, Bank resolution framework, Bank shareholder, Camel rating, CBM contingency plan, CBM fund, CBM governor, CBM Law, CBM liquidity loan, CBM order, Contingency planning, CR, Crisis management, Global, ISCR, Lender of last resort, Liquidity contingency plans, Resolution fund

Publication Details

Pages:

25
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/199
Stock No:

1MNEEA2016005
ISBN:

9781475533606
ISSN:

1934-7685

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