07466oam 22013814 450 991081022800332120240405122342.01-4983-8039-51-4983-2725-7(CKB)2670000000577894(EBL)1868521(SSID)ssj0001432641(PQKBManifestationID)11852846(PQKBTitleCode)TC0001432641(PQKBWorkID)11406670(PQKB)10969852(MiAaPQ)EBC1868521(Au-PeEL)EBL1868521(CaPaEBR)ebr10990909(CaONFJC)MIL664616(OCoLC)897070417(NjHacI)992670000000577894(IMF)1CODEA2014002(EXLCZ)99267000000057789420020129d2014 uf 0engurcnu||||||||txtccrDemocratic Republic of the Congo : Financial System Stability Assessment1st ed.Washington, D.C. :International Monetary Fund,2014.1 online resource (63 p.)IMF Staff Country ReportsDescription based upon print version of record.1-4843-9477-1 1-322-33334-3 Cover; CONTENTS; GLOSSARY; EXECUTIVE SUMMARY; INTRODUCTION; TABLES; 1. Selected Economic and Financial Indicators, 2011-2019; FINANCIAL SECTOR STRUCTURE AND PERFORMANCE; A. The Banking Sector and Financial Stability; 2. Structure of the Banking System; FIGURES; 1. Banking Systems Balance Sheet; 2. Comparative Indicators of Banking System Soundness; 3. Financial Soundness Indicators, 2010-2013; B. The Nonbanking Sector and Financial Stability; 4. End-2012 Banks' Income Statements; 5. Number of Microfinance Institutions Not Meeting the Regulatory NormsRISKS AND RESILIENCE OF THE BANKING SECTOR A. Financial Sector Vulnerabilities; 3. Comparison of Micro-financial Buffers, 2009 vs. 2013; 6. Risk Assessment Matrix; B. Banking Sector Resilience; C. Credit Risk; 4. Estimated Banks' Capital Needs if the Exchange Rate Depreciates Sharply; 7. Solvency and Liqudity Stress Tests; D. Liquidity Risk; 5. Large Concentration Exposures; E. Interbank Contagion Risk; FINANCIAL SECTOR SUPERVISION AND REGULATORY FRAMEWORK; 6. Supervisory Structure; CRISIS MANAGEMENT AND SAFETY NETS; A. Crisis Preparedness; B. Responding to a Crisis; C. Deposit Insurance SystemDEVELOPMENT AND MARKET STRUCTURE ANTI-MONEY LAUNDERING; 8. Key Recommendations (Extended); APPENDICES; I. The Central Bank: Autonomy and Monetary Policy Tools; II. De-dollarization: Preconditions, Operational Aspects, and Risks; III. The Resolution of the Banque Congolaise; IV. Observance of the Basel Core Principles; V. Stress Test MatrixThis Financial System Stability Assessment on the Democratic Republic of the Congo highlights that the Congolese financial sector has recovered from the crisis of 2009 but is at a crossroads. Although reforms have been initiated, the system remains shallow, highly dollarized, and characterized by balance sheet fragilities. The authorities have announced a de-dollarization process; however, greater progress on reforms to strengthen the financial system is needed to support financial deepening and economic growth. The team’s analysis suggests that the financial system remains vulnerable. Resilience to shocks is undermined by the lack of risk-based supervision, lax regulation and weak enforcement of existing regulations, low profitability, and an excessive reliance on sight deposits. Steps are also needed to improve the capacity for micro- and macroprudential supervision. The implementation of risk-based supervision for individual banks is a critical prerequisite for effective crisis prevention. Assessments of bank-specific and systemic soundness are severely handicapped by weak supervisory data and other information gaps. There are significant weaknesses in accounting and auditing practices and, even if indicators suggest high capitalization levels, a more detailed analysis suggests banks are under-provisioned, partly owing to lax definitions of nonperforming loans and provisioning rules.IMF Staff Country Reports; Country Report ;No. 2014/315Financial institutionsCongo (Democratic Republic)Banks and BankingimfMoney and Monetary PolicyimfIndustries: Financial ServicesimfFinance: GeneralimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfFinancial Institutions and Services: Government Policy and RegulationimfMonetary SystemsimfStandardsimfRegimesimfGovernment and the Monetary SystemimfPayment SystemsimfGeneral Financial Markets: Government Policy and RegulationimfBankingimfFinanceimfMonetary economicsimfFinancial services law & regulationimfLoansimfCommercial banksimfCreditimfCapital adequacy requirementsimfFinancial institutionsimfMoneyimfCurrenciesimfFinancial sector stabilityimfFinancial sector policy and analysisimfBanks and bankingimfAsset requirementsimfFinancial services industryimfCongo (Democratic Republic)Economic conditionsCongo (Democratic Republic)Economic policyCongo, Democratic Republic of theimfFinancial institutionsBanks and BankingMoney and Monetary PolicyIndustries: Financial ServicesFinance: GeneralBanksDepository InstitutionsMicro Finance InstitutionsMortgagesMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralFinancial Institutions and Services: Government Policy and RegulationMonetary SystemsStandardsRegimesGovernment and the Monetary SystemPayment SystemsGeneral Financial Markets: Government Policy and RegulationBankingFinanceMonetary economicsFinancial services law & regulationLoansCommercial banksCreditCapital adequacy requirementsFinancial institutionsMoneyCurrenciesFinancial sector stabilityFinancial sector policy and analysisBanks and bankingAsset requirementsFinancial services industry309.1675DcWaIMFBOOK9910810228003321Democratic Republic of the Congo3919365UNINA