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Books and Analytical Papers > High-Level Summary Technical Assistance Reports

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Cover High-Level Summary Technical Assistance Reports
Colombia: Assessment of Financial Stability
Ms. Sumiko Ogawa and Rhiannon Sowerbutts
The financial stability report of the Banco de la República of Colombia (BR) provides broad coverage of macroeconomic environment and the assessment of risks in the financial system. The BR should continue developing data and enhancing forward-looking analytical approaches, sharpen messages on key risks, and develop a layered communication approach to reach audiences with different levels of technical expertise. As new risks emerge, the BR could take stock and update the structure as needed in the medium term. Over the long term, the BR should continue deepening the understanding of the channels and interaction between financial stability and monetary policy.
Keywords:
Financial stability report; systemic risk
Cover High-Level Summary Technical Assistance Reports
The Bahamas: Operationalizing the New Bank Resolution Framework and Amended Deposit Insurance Legislation - Second Mission
Mrs. Gayon M Hosin, Mr. David S. Hoelscher, and Mr. Geoffrey J Mortlock
This technical assistance report on The Bahamas focuses on operationalizing the new bank resolution framework and amended deposit insurance legislation-second mission. The Bahamas has made considerable progress in developing the legal framework, infrastructure, and key tools for an effective bank recovery and resolution regime and is taking steps to operationalize the regime. Effective operationalization of the resolution regime will also require review and reform in other key framework areas, including contingency arrangements for public resolution funding if required, fully implementing the deposit insurance system, and establishing a program of regular testing. Strengthening and updating the supervisory early intervention and recovery planning frameworks and requirements are critical to maintaining financial system stability in the context of acknowledged limits of the structure and depth of the financial system that, in turn, constrain resolution options. Enhancement of the underpinning legislation is recommended to support building out and implementing the operational infrastructure for bank resolution.
Keywords:
Resolution framework; recovery planning; resolution policies; resolution manual; safety net testing; resolution planning; resolvability assessment; deposit insurance system; credit union resolution; inter-agency coordination
Cover High-Level Summary Technical Assistance Reports
Curaçao and Sint Maarten: Report on the Financial Soundness Indicators
Brian Kwok Chung Yee and Ms. Bidisha Das
This paper discusses the high-level summary technical assistance report for Curaçao and Sint Maarten on financial soundness indicators (FSI). The High-Level Summary Technical Assistance Report series provides high-level summaries of the assistance provided to IMF capacity development recipients, describing the high-level objectives, findings, and recommendations. The mission, in collaboration with the staff of the Centrale Bank van Curaçao en Sint Maarten (CBCS), successfully developed bridge tables to compile FSIs for commercial banks and savings banks, which could be linked in the long term with its database to automate the FSIs compilation process. The mission also identified a few areas for improvements related to the data collection framework for the deposit takers to be implemented in the medium term. As a result of the mission, the CBCS is able to start reporting the FSI-standard reports, financial soundness metadata, and financial soundness institutional coverage for dissemination on the IMF’s FSI website for Curaçao and Sint Maarten. A timeframe for implementing the mission recommendations including reporting FSIs to statistics department was also discussed and agreed on with the CBCS staff.
Keywords:
Commercial banks; Financial institutions; Financial sector policy and analysis; Financial soundness indicators; and Financial statements
Cover High-Level Summary Technical Assistance Reports
Costa Rica: Sovereign Asset and Liability Management – Scoping Mission
Mr. David A. Grigorian, Phillip Anderson, and Antonio Juambeltz
This paper presents high-level summary technical assistance report on sovereign asset and liability management (SALM) for Costa Rica. Aided by a 36-month Extended Fund Facility in place since March 2021, Costa Rica’s reform efforts toward strong, inclusive, and sustainable growth are showing tangible results. A comprehensive SALM framework can have significant advantages over separate management of sovereign assets and liabilities. It allows for analysis of the financial characteristics of the whole balance sheet of the sovereign, identification of sources of costs and risks, and quantification of the correlations among these sources. Implementing a full SALM framework can be challenging, but countries have applied it with a range of scope and policy objectives. This balance sheet analysis is a first step to developing a consolidated sovereign balance sheet. The central bank of Costa Rica’s balance sheet has negative equity and significant USD assets and liabilities. Most state-owned enterprises are in reasonably good financial health and can fund some investment from their retained earnings, and the state-owned banks are profitable and liquid, and reflect dollarization in the economy.
Keywords:
Sovereign Asset; Liability Management; medium-term debt strategy; debt market development
Cover High-Level Summary Technical Assistance Reports
Trinidad and Tobago: Strengthening Cybersecurity in Financial Institutions
Tamas Gaidosch and Rangachary Ravikumar
Central Bank of Trinidad and Tobago requested for technical assistance to: (i) strengthen the cybersecurity posture of the Central Bank, and (ii) strengthen the cybersecurity of the financial institutions. The mission provided support in a project aimed at enhancing its cybersecurity posture focusing on governance and Identity and Access Management (IAM), provided guidance in drafting a guideline applicable to financial institutions and conducted a seminar on regulations. The recommendations focused on strengthening governance aspects, defining the IAM project and drafting a regulation for the financial institutions.
Keywords:
Cyber risk; Cybersecurity; Identity; Access Management