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

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International Monetary Fund, May 17, 2004 - Business & Economics - 39 pages
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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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Contents

GLOSSARY
I SUMMARY AND CONCLUSIONS
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
Main findings
Comments on implementation of Core Principles
Authorities response
Authorities response
Legal and institutional frameworkoverview
Authorities response

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