Serbia : Financial Sector Note

The purpose of this Financial Sector Note (FSN) is to review recent developments in Serbia's financial system, and to provide policy recommendations for its future development. The FSN builds upon, complements, and seeks to expand, the broad financial sector reform agenda pursued under the ongoing Bank program, which is anchored on two adjustment operations - First and Second Public Financial Sector Adjustment Credits (PFSAC I and II), and parallel technical assistance efforts. The main objectives of this FSN are: 1) to provide an up-to-date snapshot of the Serbian financial sector (banks as well as non-bank financial institutions (NBFIs)), including an in-depth assessment of the performance of the banking sector, analyzing both the efficiency and stability characteristics of individual Serbian banks; 2) to identify existing constraints to financial intermediation, as well as potential systemic risks; and, 3) to reinforce previous messages to the Serbian authorities and the Bank's internal audience about the urgent necessity of implementing the next stages in financial sector reform. This report should be viewed as part of the broader ongoing assessment of how to deepen the reform process, in order to achieve faster growth and a greater impact on living standards. The findings of the FSN will serve as inputs into the design of the financial sector sections of the Country Economic Memorandum (CEM) and Country Assistance Strategy (CAS) for Serbia. Very importantly, the report endeavors to provide specific recommendations for the Bank's future support for financial sector development in Serbia, with the focus on identifying potential policy components in planned adjustment operations. Finally, the FSN is expected to lay the analytical and quantitative groundwork for the relevant sections of the Financial Sector Assessment Program (FSAP) report planned for 2005.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2004-09-10
Subjects:	ACCOUNTING, BALANCE SHEETS, BALANCE­SHEETS, BANK ASSETS, BANK LIQUIDITY, BANK PRIVATIZATION, BANK REHABILITATION, BANK SUPERVISION, BANKING CRISES, BANKING REFORM, BANKING SECTOR, BANKING SERVICES, BANKING SYSTEM, BANKRUPTCY, BANKS, BONDS, BORROWING, BUDGET CONSTRAINTS, CAPITAL ADEQUACY, CAPITAL INFLOWS, CAPITAL MARKETS, CAPITAL REQUIREMENT, CAR, CLUB DEBTS, COMMERCIAL BANK, COMMERCIAL BANKS, COMPETITIVE MARKET, CONSOLIDATION, CREDIT INSTITUTIONS, CURRENCY DEVALUATIONS, DEBT, DEBT OBLIGATIONS, DEBT SERVICING, DEMAND DEPOSITS, DEPOSIT ACCOUNTS, DEPOSITORS, DISTRESSED BANKS, DOMESTIC CREDIT, EARNING ASSETS, ECONOMIC GROWTH, EIB, EMPLOYMENT, ESTATE, FINANCIAL DISTRESS, FINANCIAL INSTITUTIONS, FINANCIAL INTERMEDIATION, FINANCIAL REPORTING, FINANCIAL SECTOR DEVELOPMENT, FINANCIAL SECTOR REFORM, FINANCIAL SERVICES, FISCAL DEFICITS, FOREIGN BANKS, FOREIGN CURRENCY DEPOSITS, FOREIGN EXCHANGE, FRANCHISE, GOVERNANCE WEAKNESSES, GOVERNMENT DEPOSITS, INFLATION, INITIAL PUBLIC OFFERING, INSOLVENT BANKS, INSTITUTIONAL ENVIRONMENT, INSURANCE, INSURANCE SUPERVISION, INTERNATIONAL ACCOUNTING STANDARDS, INTERNATIONAL CAPITAL, IPO, LEASING, LIABILITY, LIMITED, LIQUID ASSETS, LIQUIDATION, LOAN CLASSIFICATION, LONDON CLUB, MACROECONOMIC STABILIZATION, MERGER, MONETARY AGGREGATES, MONEY SUPPLY, NATIONAL BANK, NATIONALIZATION, NATIONALIZED BANKS, OFF BALANCE SHEET, OFF BALANCE SHEET ASSETS, OPERATING LOSSES, PENSIONS, POCKET BANKS, PRIVATE BANKS, PRIVATE COMPANIES, PRIVATIZATION, PROBLEM BANKS, PRODUCTIVITY, PUBLIC DEBT, PUBLIC EXPENDITURES, PUBLIC UTILITIES, REAL SECTOR, RESERVE REQUIREMENTS, SAVINGS, SECURITIES, SMALL BANKS, SOLVENCY, STAKEHOLDER, STATE BANKS, STATE OWNED BANKS, STATE OWNERSHIP, STOCK EXCHANGE, TECHNICAL ASSISTANCE, TIME DEPOSITS, TRANSITION ECONOMIES, WAGES,
Online Access:	http://documents.worldbank.org/curated/en/2004/09/6673215/serbia-montenegro-serbia-financial-sector-note https://hdl.handle.net/10986/14430
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