Serbia and Montenegro: Serbia: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, and Payment Systems

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2006 Issue 096

Publication date: March 2006

ISBN: 9781451833607

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Topics covered in this book

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Banks and Banking , Money and Monetary Policy , ISCR , CR , bank , NBS , state bank , market , monetary policy , bank management , bank intermediation , euro-denominated bank liability , bank pyramid schemes , market share , foreign currency , bank capital , market discipline of bank management , bank liability , bank credit , pyramid schemes , financial system , Foreign banks , Credit , State-owned banks , Commercial banks , Loans , Central and Eastern Europe , Eastern Europe

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Summary

This paper discusses key finding of the Assessment Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, and Payment Systems for Serbia. The assessment reveals that the transformation of Serbia’s financial system is bringing important benefits, but there are emerging signs that the rapid pace of credit growth is beginning to erode financial stability. The main potential threat to financial stability is indirect credit risk arising from the large share of bank lending effectively denominated in foreign exchange.