Cyprus : Financial Sector Assessment Program: Financial System Stability Assessment

1CYPEA2009007 Image
Price:  $18.00

Release Date: © November, 2009
ISBN : 978-1-45180-998-5
Stock #: 1CYPEA2009007
Stock Status: On back-order

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This paper discusses key findings of the Financial System Stability Assessment on Cyprus. The assessment reveals that the banking system of Cyprus has managed to avoid the worst effects of the global financial crisis, but stress tests confirmed that credit risk remains high. The assessment suggests that work on the crisis contingency framework should be completed. Various European Union (EU)-wide and national initiatives are already under way, including strengthening deposit insurance, drafting guidelines for emergency liquidity assistance, and adopting a legal framework for covered bonds to facilitate access to European Central Bank refinancing.


Crisis prevention , Financial crisis , Financial system stability assessment , IMF governance and operations , International financial system , Operations

More publications in this series: IMF Staff Country Reports