World Bank2013-10-012013-10-012002-03https://hdl.handle.net/10986/15949As part of the Bank-fund Financial Sector Assessment Program (FSAP), two missions visited Georgia, one in May, 2001 and the second from July 24 to August 7, 2001. The missions focused on three broad areas: (i) the Georgian financial system s short-term stability and its resilience to shocks; (ii) progress in meeting international standards and good practices in regulation, supervision, and transparency of the financial system; and (iii) key medium-term and developmental issues in the financial system. The mission produced a number of reports that were reviewed by and delivered to the authorities. This report summarizes the strategic assessment; macroeconomic context; near-term and middle-term vulnerabilities in the financial system; longer-term vulnerabilities anti developmental issues; and priorities for the financial sector.en-USCC BY 3.0 IGOACCOUNTINGANTI-MONEY LAUNDERINGANTI-MONEY LAUNDERING LEGISLATIONASSET CLASSIFICATIONASSETSAUCTIONAUDITINGAUDITSAVAILABILITY OF CREDITBALANCE SHEETBALANCE SHEETSBANK DEPOSITBANK DEPOSITSBANK RESTRUCTURINGBANK SUPERVISIONBANKING CRISISBANKING LAWBANKING LAWSBANKING LEGISLATIONBANKING REGULATIONSBANKING SECTORBANKING SUPERVISIONBANKING SYSTEMBANKRUPTCYBANKSBIDSBOOK ENTRYBOOK ENTRY FORMBORROWERBROKERSCAPITAL ADEQUACYCAPITAL BASECAPITAL MARKETSCAPITAL MARKETS INFRASTRUCTURECASH ECONOMYCASH FLOWCASH FLOW ANALYSISCASH IN CIRCULATIONCENTRAL BANKCENTRAL SECURITIES DEPOSITORYCHECKSCOLLATERALCOLLATERAL REQUIREMENTSCOMMERCIAL BANKCOMMERCIAL BANKINGCOMMERCIAL BANKSCOMPANY LAWCONFLICTS OF INTERESTCONSOLIDATIONCONTINGENT LIABILITIESCORPORATE GOVERNANCECORRESPONDENT BANKSCORRUPTIONCOUNTRY RISKCREDIT CARDSCREDIT COOPERATIVECREDIT COOPERATIVESCREDIT CULTURECREDIT FACILITIESCREDIT HISTORYCREDIT INFORMATIONCREDIT LINESCREDIT RISKCREDIT UNIONSCREDITORSCREDITWORTHINESSCURRENCYCURRENCY DEPRECIATIONCURRENCY MISMATCHESCURRENT ACCOUNTCURRENT ACCOUNT DEFICITSDEBIT CARDSDEBTDEBT MANAGEMENTDEPOSITDEPOSIT ACCOUNTSDEPOSIT INSURANCEDEPOSITORDEPOSITORSDEPOSITSDIFFERENTIAL TAX TREATMENTDISBURSEMENTSDIVERSIFICATIONDUE DILIGENCEECONOMIC GROWTHECONOMIES OF SCALEENFORCEABILITYENTREPRENEURSEQUITY CAPITALEXCHANGE RATEEXCHANGE RATESEXPENDITUREEXTERNAL AUDITORSEXTERNAL BORROWINGFINANCE COMPANIESFINANCIAL AGENCIESFINANCIAL DATAFINANCIAL INFRASTRUCTUREFINANCIAL INSTITUTIONSFINANCIAL INSTRUMENTSFINANCIAL INTERMEDIATIONFINANCIAL POLICIESFINANCIAL SECTOR ASSESSMENTFINANCIAL STABILITYFINANCIAL SYSTEMFINANCIAL TRANSACTIONSFISCAL AUTHORITIESFISCAL DEFICITSFOREIGN CURRENCYFOREIGN EXCHANGEFOREIGN EXCHANGE RISKFOREIGN EXCHANGE RISKSFOREIGN FINANCINGFORMAL BANKINGFORMAL BANKING SYSTEMGOVERNMENT EXPENDITUREGOVERNMENT SECURITIESGOVERNMENT SPENDINGHOUSEHOLDSINCOME STATEMENTSINFLATIONINFORMAL ECONOMYINFORMATION SHARINGINSOLVENTINSOLVENT BANKSINSTITUTIONAL INVESTORSINSURANCEINSURANCE COMPANIESINTEREST RATEINTEREST RATE RISKINTEREST RATE SPREADSINTEREST RATESINTERNATIONAL ACCOUNTING STANDARDSINTERNATIONAL FINANCIAL INSTITUTIONSINTERNATIONAL STANDARDSINVESTMENT OPPORTUNITIESISSUANCEJOINT STOCK COMPANIESJOINT STOCK COMPANYLARGE BANKLAWSLEGAL FRAMEWORKLEGISLATIVE FRAMEWORKLENDERLENDER OF LAST RESORTLENDERSLIABILITYLIQUID INSTRUMENTSLIQUIDATIONLIQUIDITYLIQUIDITY PROBLEMSLIQUIDITY RATIOSLOANLOAN CONTRACTSLOAN FINANCINGLOAN PORTFOLIOSLOAN RECOVERYLONG-TERM FUNDINGMACROECONOMIC ENVIRONMENTMACROECONOMIC POLICYMACROECONOMIC RISKMARKET DISCIPLINEMARKET FOR GOVERNMENT SECURITIESMARKET PARTICIPANTSMARKET VALUEMATURITIESMATURITYMICRO-ENTERPRISESMINIMUM CAPITAL ADEQUACY RATIOMONETARY POLICYMONEY LAUNDERINGNATIONAL BANKNATIONAL SECURITIESNET LOSSESNET WORTHNON-PERFORMING LOANSNUMBER OF BANKSOUTSTANDING STOCKPAYMENT SYSTEMSPOLITICAL UNCERTAINTYPORTFOLIOSPRIVATE PLACEMENTSPRIVATIZATIONPROBLEM BANKSPROBLEM LOANSPUBLIC DEBTREAL ESTATEREGULATORY FRAMEWORKREPAYMENTREPAYMENT CAPACITYRESERVERESOURCE MOBILIZATIONSAVINGSSECURITIES INDUSTRYSECURITIES MARKETSECURITIES MARKET LAWSETTLEMENTSETTLEMENT SYSTEMSETTLEMENT SYSTEMSSHAREHOLDERSSOLVENCYSOVEREIGN GUARANTEESSTOCK EXCHANGESUPERVISORY AUTHORITYSUPERVISORY FRAMEWORKSYSTEMIC RISKTAXTECHNICAL ASSISTANCETRADINGTRADING SYSTEMTRANSITION ECONOMIESTRANSPARENCYTREASURYTREASURY BILLTREASURY BILLSTREATYUSE OF CHECKSWITHHOLDING TAXWorld Bank10.1596/15949