Sierra Leone: Operationalizing the Crisis Management Framework for Banks

Volume/Issue: Volume 2025 Issue 033

Publication date: August 2025

ISBN: 9798229019606

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , Bank Resolution , Crisis Management , Resolution Planning , Resolution Authority , Resolution Manual , Crisis prevention , Lender of last resort , Bank resolution framework , Financial sector stability , Crisis management , Deposit insurance , Bank resolution , Banking crises , Crisis management framework

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Summary

This report provides technical assistance to Sierra Leone in operationalizing its crisis management framework for banks, following the adoption of a legal framework for bank resolution and liquidation in 2019. Bank of Sierra Leone (BSL), the designated Resolution Authority, faces significant institutional capacity obstacles, primarily due to understaffing and lack of expertise. Recommendations focus on staffing and training a specialized resolution unit, merging it with the depositor protection unit, and enhancing operational preparedness through pre-engaging external experts and developing internal guidelines and procedures. The report includes a detailed Work Plan for 2025-2026.