Publication: Serbia : Financial Sector Note
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2004-09-10
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2013-07-09
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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.
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“World Bank. 2004. Serbia : Financial Sector Note. © World Bank. http://hdl.handle.net/10986/14430 License: CC BY 3.0 IGO.”
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