World Bank2013-10-012013-10-012002-06https://hdl.handle.net/10986/15948This Financial Sector Assessment (FSA) is based on the work of the joint International Monetary Fund (IMF)/World Bank mission that visited Senegal as part of the Financial Sector Assessment Program (FSAP) from November 6-17, 2000 and January 28-February 5, 200l . Members of the team also visited Cote d'Ivoire in order to conduct assessments of the regional capital market, securities commission, and banking commission, and Lome, Togo for discussions with the regional social security regulator, CIPRES. The FSAP mission's findings were discussed with the authorities in July 2001 in the context of the 2001 article four consultation. This report summarizes the main findings of the mission, identifies key financial sector vulnerabilities, and provides policy recommendations.en-USCC BY 3.0 IGOAGRICULTURAL CREDITARREARSASSETSAUTONOMYBANK CAPITALBANK CREDITBANK DEPOSITSBANK FAILUREBANK LENDINGBANK PORTFOLIOSBANKING CRISISBANKING SECTORBANKING SYSTEMBANKING SYSTEM ASSETSBANQUE DE FRANCEBONDBOND MARKETBONDSBORROWINGCAPITAL FLIGHTCAPITAL MARKETCENTRAL BANKCENTRAL BANK CREDITCIVIL SERVICECOMMERCIAL BANKCOMMERCIAL BANKSCOMMERCIAL PAPERCONSOLIDATIONCONTAGIONCORPORATE GOVERNANCECREDIT POLICIESCREDIT RISKCURRENCYCUSTOMER BASEDEGREE OF RISKDEMOGRAPHICDEPENDENTDEPOSITDEPOSIT INSURANCEDEPOSIT INSURANCE SCHEMEDEPOSITORSDEPOSITSDEVALUATIONDEVELOPMENT BANKDUE DILIGENCEECONOMIC DOWNTURNSEQUITY MARKETEXCHANGE RATEEXPORTEREXPOSUREEXPOSURESFINANCIAL DEVELOPMENTFINANCIAL INTERMEDIARIESFINANCIAL MARKETFINANCIAL REGULATIONFINANCIAL SECTORFINANCIAL SECTOR REGULATIONFINANCIAL SERVICESFINANCIAL STABILITYFINANCIAL SYSTEMFIXED COSTSFLOATING RATEFOREIGN EXCHANGEFOREIGN FINANCIAL INSTITUTIONSFOREIGN INVESTORSFOREIGN MARKETSFOREIGN PORTFOLIOFOREIGN PORTFOLIO INVESTMENTGOVERNMENT SECURITIESHOUSINGHOUSING LOANSINCOMEINDIVIDUAL ACCOUNTSINSURANCEINSURANCE COMPANIESINSURANCE MARKETSINSURANCE SUPERVISIONINTEREST RATEINTEREST RATE RISKINTERNAL CONTROLSINTERNATIONAL BANKSINTERNATIONAL STANDARDSINVESTINGINVESTMENT IN SECURITIESINVESTOR CONFIDENCEISSUANCEJUDICIAL ENVIRONMENTJUDICIAL SYSTEMLABOR FORCELEGAL FRAMEWORKLEGISLATIONLIQUIDITYLIQUIDITY RISKSLOANLOAN CONTRACTSLOAN LOSSESMARKET CAPITALIZATIONMARKET INTERMEDIARIESMARKET PARTICIPANTSMARKET RISKSMICROFINANCEMICROFINANCE INSTITUTIONSMICROFINANCE SECTORMINISTRIES OF FINANCEMONETARY POLICYMONEY LAUNDERINGOPERATING COSTSPAYMENT DEFAULTSPENSIONPENSION FUNDSPENSION REFORMPENSION SYSTEMPENSION SYSTEM REFORMPENSIONSPORTFOLIOPORTFOLIOSPRIVATIZATIONSPRUDENTIAL FRAMEWORKPRUDENTIAL STANDARDSPUBLIC ENTERPRISESRAPID EXPANSIONRAPID GROWTHREGIONAL DEVELOPMENT BANKSREGULATORREGULATORY BODIESREGULATORY BODYREGULATORY SYSTEMREINSURANCERESERVESRULES FOR MARKETSAVINGSSECURITIESSECURITIES MARKETSTOCK EXCHANGESUPERVISORY AGENCIESSYSTEMIC BANKING CRISISSYSTEMIC CRISISTAXTECHNICAL ASSISTANCETRADINGTRADING VOLUMESTRANSACTIONTRANSACTION COSTSTRANSPARENCYTREASURYTREATYUSURY CEILINGVOLATILITYWITHDRAWALWorld Bank10.1596/15948