Saudi Arabia: Financial System Stability Assessment: Update

Author: International Monetary Fund

Volume/Issue: Volume 2012 Issue 092

Publication date: April 2012

ISBN: 9781475503043

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Topics covered in this book

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Banks and Banking , Finance , Economics- Macroeconomics , ISCR , CR , U , S , dollar , banking sector , liquidity ratio , basis point , central bank , exchange rate , yield curve , foreign exchange , bank assets , financial system , reverse repo , net income , Commercial banks , Oil prices , Loans , Liquidity , Yield curve , Global

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Summary

An update on Saudi Arabia’s Financial System Stability Assessment (FSAP) is presented. Saudi Arabia has confronted the global financial crisis from a position of strength, and took decisive steps to manage the impact of the crisis. As a result, the financial system has weathered the crisis relatively well. The authorities have made progress implementing the recommendations of the 2004 FSAP. Many improvements have been made to bank and securities supervision. The banking sector as a whole is well capitalized and appears to be able to withstand severe temporary shocks.