World BankInternational Monetary Fund2013-09-272013-09-272010-06-08https://hdl.handle.net/10986/15914The Financial Sector Assessment Program (FSAP) update team found that the authorities have progressed in implementing the key recommendations from the initial assessment. The 2005 FSAP team revealed a number of vulnerabilities, including (i) high credit growth, largely financed by foreign banks, which resulted in rising nonperforming loans (NPLs), and (ii) poor management and low capital of several systematically important state-controlled banks. The Basel Core Principle on Banking Supervision (BCP) assessment identified a number of deficiencies in banking supervision. The update team found that the authorities took action to address the issues highlighted by the 2005 FSAP. In particular, they adopted prudential measures to slow credit growth, including higher risk weights for foreign currency loans to un-hedged borrowers, and exposure limits to households. Two systemic state-controlled banks were privatized. Finally, a new banking law was enacted that significantly strengthened supervision on consolidated basis and improved corporate governance and transparency.en-USCC BY 3.0 IGOACCOUNTINGACCOUNTS RECEIVABLEASSET CLASSIFICATIONASSET CLASSIFICATIONSASSET QUALITYAUCTIONAUCTION PROCEDURESAUCTIONSAUDIT COMMITTEEAUDIT COMMITTEESAUDITINGAUDITORSBALANCE SHEETBALANCE SHEETSBANK ACCOUNTSBANK FAILURESBANK RECAPITALIZATIONBANK REGULATIONBANK RESTRUCTURINGBANK SUPERVISIONBANKING LAWBANKING REGULATIONBANKING SECTORBANKING STABILITYBANKING SUPERVISIONBANKING SYSTEMBANKRUPTBANKRUPTCYBANKRUPTCY COURTBANKRUPTCY LAWBANKRUPTCY PROCEEDINGBIDSBILLS OF EXCHANGEBOARDS OF DIRECTORSBORROWERBUDGETINGCAPACITY BUILDINGCAPITAL ADEQUACYCAPITAL REQUIREMENTSCASH COLLATERALCASH MANAGEMENTCOLLATERALCOMMERCIAL BANKSCONFLICT OF INTERESTCONSOLIDATED SUPERVISIONCONSUMER PROTECTIONCORPORATE BANKRUPTCYCORPORATE DEBTCORPORATE DEBTSCORPORATE DISTRESSCORPORATE FRAUDCORPORATE GOVERNANCECORPORATE INSOLVENCYCORPORATE WORKOUTCOURT PROCEEDINGSCREDIT GROWTHCREDIT LOSSESCREDIT RISKCREDITORCREDITOR CLAIMSCREDITOR RIGHTSCREDITORSDEBT RESCHEDULINGDEBT RESOLUTIONDEBT RESTRUCTURINGDEBT RESTRUCTURING MECHANISMSDEBT SERVICEDEBTORDEBTORSDEFAULTSDEPOSITDEPOSIT INSURANCEDEPOSIT INSURANCE AGENCYDEPOSITSDISCLOSURE OBLIGATIONSDISSOLUTIONDISTRESSED COMPANIESENFORCEMENT PROCEDUREENFORCEMENT PROCEDURESENFORCEMENT PROCESSENFORCEMENT RIGHTSEXCHANGE RATEEXTERNAL FINANCINGFINAL SETTLEMENTFINANCIAL CRISISFINANCIAL LEASINGFINANCIAL REPORTINGFINANCIAL STABILITYFISCAL DEFICITFISCAL DEFICITSFIXED ASSETSFORECLOSUREFOREIGN BANKSFOREIGN COMPANIESFOREIGN CURRENCYFOREIGN CURRENCY LOANSFOREIGN EXCHANGEFOREIGN INVESTORSFRAUDULENT TRANSFERSGROSS DOMESTIC PRODUCTGUARANTEE FUNDHOLDINGHOUSEHOLD DEBTHOUSINGIMMOVABLE PROPERTYINFORMATION TECHNOLOGYINJUNCTIONSINSOLVENCY MECHANISMSINSTITUTIONAL CAPACITYINSURANCEINSURANCE COMPANIESINSURANCE COMPANYINSURANCE MARKETINSURANCE SUPERVISIONINSURED DEPOSITSINTEREST RATEINTERNATIONAL STANDARDSINVESTMENT FUNDSINVESTOR INTERESTJUDGMENTLARGE BANKSLAW ON BANKRUPTCYLEGAL AUTHORITYLEGAL FRAMEWORKLEGISLATIONLENDERLEVEL PLAYING FIELDLEVERAGELIABILITYLIFE INSURANCELIFE INSURANCE COMPANIESLIFE INSURANCE PREMIUMLIQUID ASSETSLIQUIDATIONLIQUIDATION OF BANKSLIQUIDATORLIQUIDITYLIQUIDITY MANAGEMENTLOANLOAN CLASSIFICATIONLOAN LOSSLOAN LOSS PROVISIONSLOAN LOSSESMACROECONOMIC ENVIRONMENTMARKET CONDITIONSMARKET CONFIDENCEMARKET PLAYERSMARKET SHAREMARKET SUPERVISIONMARKET TRANSPARENCYMONETARY FUNDMORTGAGEMORTGAGESMOVABLE ASSETSNATIONAL BANKNET INTEREST MARGINNON-PERFORMING LOANSNONPERFORMING LOANSNPLOPEN BANKOPEN BANKSOUT-OF-COURT WORKOUTOVERDUE DEBTPENALTIESPENSIONPENSION SYSTEMSPENSIONSPETITIONING CREDITORPETITIONING CREDITORSPLEDGE LAWPLEDGE LAWSPLEDGESPRIVATIZATIONPROBLEM BANKSPROCEDURES FOR APPEALSPROFITABILITYPROVISIONING RULESPRUDENTIAL REGULATIONSPUBLIC ADMINISTRATIONREAL PROPERTYREAL SECTORRECAPITALIZATIONRECEIVABLESRECEIVERRECEIVERSREGULATORY FRAMEWORKREINSURANCE REQUIREMENTSREORGANIZATIONREPOREPO AUCTIONSREPO RATERESERVERESERVE REQUIREMENTRESERVE REQUIREMENTSRESERVESRETURNRETURN ON EQUITYRIGHTS OF CREDITORSRISK CAPITALRISK EXPOSURERISK MANAGEMENTRISK MANAGEMENT SYSTEMSSAVINGSSECONDARY MARKETSECURITIESSETTLEMENTSHAREHOLDERSINGLE CREDITORSOLVENCYSOLVENTSOLVENT BANKSSTATE BANKSSUBSIDIARIESSUBSIDIARYSUPERVISORY BOARDSSUPERVISORY FRAMEWORKSUPERVISORY POLICYSYSTEMIC CRISISSYSTEMIC RISKTAXTAX COLLECTIONSTAX INCENTIVESTAX TREATMENTTECHNICAL ASSISTANCETERRORISMTRADINGTRANSPARENCYWEAK ASSETWEAK COLLATERALWITHDRAWALWorld Bank10.1596/15914