Algeria: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency and Banking Supervision
International Monetary Fund, May 17, 2004 - Business & Economics - 39 pages
Algeria’s Financial System Stability Assessment highlights the Observance of Standards and Codes on monetary and financial policy transparency and banking supervision. Financial intermediation in Algeria will be bank-based in the future, and only politically difficult decisions to gradually sell state banks will eliminate the drag that current banking practices have on resource allocation. No system dominated by state banks has avoided large loan losses or contributed effectively to economic development.
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II BACKGROUND AND SITUATION OF FINANCIAL SYSTEM
III OVERARCHING ISSUES AND POLICY ADVICE
Core Principles for Effective Banking Supervision
Code of Good Practices on Transparency in Monetary and Financial Policies
OBSERVANCE OF FINANCIAL SECTOR STANDARDS AND CODESSUMMARY ASSESSMENTS
Basel Core Principles for Effective Banking Supervision
Institutional and macroeconomic setting for banking supervision
Preconditions for effective banking supervision
Comments on implementation of Core Principles
Legal and institutional frameworkoverview
Algerian public banks assets authorities BA’s balance sheet Bank of Algeria Banking Commission banking sector borrowers budgetary bullet securities central bank CNEP CNEP’s command economy Core Principles credit cycles credit risks cut intermediation costs cycles that curtail deposits at BA domestic economy Effective Banking Supervision environment to cut financial intermediation financial policies fiscal framework hydrocarbon-induced liquidity implementation institutions interest rates International Monetary Fund investors issuance issue Law on Money lending licenses liquidity and credit loans losses macroeconomic medium term MFP Transparency Microfinance monetary policy Money and Credit off-site supervision operating environment ownership percent of GDP private banks privatize public banks procyclical profitability provisions prudential regulations public bank managers public debt public enterprises Quasi-Fiscal Operations Reduce Debt Costs regulatory repos responsible restructuring bonds risk-taking shareholder staff Standards and Codes state-owned strengthen supervisor surveillance transparency in monetary volatile World Bank yield curve