Download or read book Financial Sector Assessment Program Albania written by Internationaler Währungsfonds and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This assessment of compliance with the core principles for effective deposit insurance systems (core principles) was conducted as a part of the Financial Sector Assessment Program (FSAP) performed by the International Monetary Fund and the World Bank at the request of the Albanian government. This assessment was conducted by Claire McGuire, Senior Financial Sector Specialist with the World Bank, during a mission to Albania from October 28th to November 11th, 2013. The assessment was based on a review of relevant laws, regulations and regulatory and supervisory practices related to the banking sector and the operations of ADIA. Multiple meetings were held with various employees of the Bank of Albania (BOA), Ministry of Finance (MOF), the Banker's Association, the two savings and credit associations, and ADIA. ADIA completed a self-assessment in preparation for the FSAP.
Download or read book Financial Sector Assessment Program Albania written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Sector Assessment Program Update Albania written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Sector Assessment Program Albania written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Sector Assessment Program Albania written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Sector Assessment Program Albania written by Internationaler Währungsfonds and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This note is prepared as part of the financial sector assessment program (FSAP). Its main objective is to describe the status and recent developments in corporate financial reporting framework in Albania and highlight key issues relevant to financial sector. The note represents a technical annex to the main FSAP aide-memoire and seeks to provide a high level overview of developments since the 2006 accounting and auditing report on the observance of standards and codes (A and A ROSC), and highlight the areas that are most relevant to the financial sector. Notable progress has been made in developing modern corporate financial reporting framework in Albania since 2006, especially in improving the statutory framework and efforts to align it with the European Union (EU) acquis communautaire. The major consequences are that there is limited financial information on corporate entities available on the market that is reliable for economic decision making or supervision of financial sector entities. The capacity and skills of institutions responsible for accounting and auditing regulation, as well as accounting and auditing profession in Albania need further development. The annex one to this note offers details on status of implementation of 2006 A and A ROSC policy recommendations.
Download or read book Financial Sector Assessment Program Albania written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Sector Assessment Program Update Albania written by Internationaler Währungsfonds and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This assessment of Albania's compliance with the International Association of Insurance Supervisors (IAIS) Insurance Core Principles (ICP) was carried out as part of the 2013 Financial Sector Assessment Program (FSAP). Although this is the second FSAP for Albania, this is the first external assessment of Albania's compliance with the ICPs. The Albanian Financial Supervisory Authority (AFSA) has all the responsibility for insurance regulation and supervision in Albania. This assessment is based upon information made available to the assessor in preparation for and during the November 2013 FSAP mission. The AFSA contributed its self-assessment and a detailed update thereof at the individual criterion level. Further sectoral information (including responses to a questionnaire sent out in advance) was provided before and during the mission. Comprehensive documentation, including all relevant laws, by-laws and regulations were: (i) available on the AFSA's web-site; or (ii) provided to the assessor by the AFSA's management.
Download or read book Financial Sector Assessment Update written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Sector Assessment Program Albania written by Internationaler Währungsfonds and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This note sets out options to develop private pensions in Albania. It has been requested by the authorities to help create a more diversified pension system that can deliver improved outcomes for Albania in decades to come. A diversified pension system mixes state and private pensions as well as other sources of retirement income. The analysis, diagnosis, and recommendations use an outcome-based assessment framework. This technical note looks at how the pension system performs relative to 5 key outcomes: efficiency, sustainability, coverage, adequacy, and security. These outcomes depend on the political and economic environment in which a pension system operates, and its overall design including regulatory framework, market structure and conduct, and supervisory approach.
Download or read book Financial Sector Assessment Program Albania written by Internationaler Währungsfonds and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Government debt continues to expand, reaching over all 872 billion, approximately 62 percent of gross domestic product (GDP), as of end-September 2013. Domestic debt grew sharply in the first half of 2013, emanating largely from poor tax revenue performance, together with the accumulation of a large stock of unpaid bills and arrears. External debt creditors comprise multilaterals, bilateral creditors, and private creditors. The concentrated nature of the investor base and the high domestic debt stock limit the choices available to debt management, particularly with regards to extending the maturity of the domestic debt. Public debt management in Albania follows an organized process but will benefit from a number of technical changes. The domestic borrowing plan has been revised frequently due to unexpected flows in the treasury account. In an environment of volatile treasury balances, cash flows safety nets or minimum cash buffers should be implemented. A number of initiatives are recommended to improve the transmission of price signals in the primary market - overall this will provide incentives for secondary market development. To support the development of the secondary market the General Directorate of public debt management should modify its issuance program and focus on key maturities on the yield curve. It is suggested that the issuance program takes a small step in this direction by limiting the number of tenors and focusing on for example, two, five, seven, and ten-year treasury bonds as well as increasing the frequency of 5 and 7-year maturities from quarterly to bi-monthly. This will provide more frequent price discovery in the primary market that will support portfolio valuation.
Download or read book Albania Financial System Stability Assessment Including Reports on the Observance of Standards and Codes on the Following Topics Banking Supervision and Payment Systems written by Stefan Ingves and published by . This book was released on 2005 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Albania written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2018-05-21 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses First Post-Program Monitoring Discussions in 2018 with Albania. The Albanian economy has continued to strengthen, with real GDP growth at 3.8 percent (year-over-year) during 2017, reflecting strong domestic demand driven by a revival in construction, recovery in the labor market and household credit, and large energy-related foreign direct investment projects. Although the public-debt-to-GDP ratio declined, the pace of fiscal consolidation has slowed post-program, with arrears accumulating. Despite the favorable environment and positive short-term outlook, risks and vulnerabilities remain, emanating from high public debt, non-performing loans in the financial sector, and weaknesses in public institutions and the judicial system.
Download or read book Financial Sector Assessment written by World Bank and published by World Bank Publications. This book was released on 2005-09-29 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: The experience of many countries around the world clearly shows that while financial sector development can spur economic growth, financial fragility and instability can seriously harm growth. Following the financial crises of the late 1990s, there has been increasing interest in the systematic assessment of the strengths and weaknesses of financial systems, with the ultimate goal of formulating appropriate policies to foster financial stability, and stimulate financial sector development. Consequently, there has been an increased demand from financial sector authorities in many countries, as well as from the Bank and International Monetary Fund (IMF) staff for information on key issues, and sound practices in the assessment of financial systems, and in the design of policy responses. This Handbook of Financial Sector Assessment is a response to this demand. The Handbook presents an overall analytical framework for assessing financial system stability and developmental needs, providing broad guidance on approaches, methodologies, and techniques of assessing financial systems. Although the Handbook draws substantially on Bank and IMF experience with the financial sector assessment programs (FSAPs), and from the broader policy and operational work in both institutions, it is designed for generic use in financial sector assessments, whether conducted by country authorities themselves, or by Bank and IMF teams. It is, therefore, hoped the Handbook will serve as an authoritative source on the objectives, analytical framework, and methodologies of financial sector assessments, as well as a comprehensive reference book for training on the techniques of such assessments.
Download or read book Albania written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2014-03-19 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the Financial System Stability Assessment report on Albania. The IMF report states that the Albanian economy is weak, macroeconomic imbalances are large, and the financial sector faces several risks. Capital-to-asset ratios are sizable, but banks hold large amounts of government bonds that expose banks to sizeable losses in case of a sovereign debt re-pricing and balance sheets have deteriorated as a result of a rapid increase of nonperforming loans (NPLs). The authorities have taken steps to reduce the existing stock of NPLs with technical assistance from the World Bank.
Download or read book Review of the Financial Sector Assessment Program Further Adaptation to the Post Crisis Era Background Studies written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2014-08-18 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past five years have seen an expansion of the scope of FSAPs to assess countries' macroprudential policy (MaPP) frameworks. This note documents this increase and offers some suggestions on how the treatment of MaPP issues in FSAPs can be further strengthened and better integrated into the overall financial stability assessment.
Download or read book Financial Sector Assessment Program written by Lily L. Chu and published by World Bank Publications. This book was released on 2006-01-01 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Financial Sector Assessment Program (FSAP) is a major initiative, undertaken jointly by the World Bank and the IMF, in response to the financial crises of the late 1990s. The ultimate objectives of the program are (i) the identification and resolution of financial sector vulnerabilities and their macroeconomic stability implications; and (ii) fostering financial sector development and its contribution to economic growth. In addition, the FSAP was expected to help the Bank, Fund, and other institutions design appropriate assistance to address issues identified by the FSAP. The evaluation found that the FSAP is a good quality diagnostic tool. Joint Bank-Fund cooperation has allowed an integrated approach towards financial sector vulnerabilities and development needs, and has expanded the depth and quality of the skills base. The assessments, however, fall short in prioritizing recommendations and integrating the findings and recommendations of the assessments into its overall programs."
