LEADER 05689oam 22011654 450 001 9910788161803321 005 20230807205021.0 010 $a1-4843-1675-4 010 $a1-4843-6574-7 035 $a(CKB)2670000000597878 035 $a(EBL)1969160 035 $a(SSID)ssj0001468676 035 $a(PQKBManifestationID)11827817 035 $a(PQKBTitleCode)TC0001468676 035 $a(PQKBWorkID)11525511 035 $a(PQKB)11713423 035 $a(MiAaPQ)EBC1969160 035 $a(Au-PeEL)EBL1969160 035 $a(CaPaEBR)ebr11023444 035 $a(CaONFJC)MIL732902 035 $a(OCoLC)904407611 035 $a(IMF)1GEOEA2015004 035 $a(EXLCZ)992670000000597878 100 $a20020129d2015 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aGeorgia : $eFinancial Sector Assessment Program-Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision-Technical Note 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2015. 215 $a1 online resource (216 p.) 225 1 $aIMF Staff Country Reports 300 $aDescription based upon print version of record. 311 $a1-4983-8435-8 311 $a1-336-01620-5 327 $aCover; CONTENTS; GLOSSARY; SUMMARY, KEY FINDINGS AND RECOMMENDATIONS; A. Introduction; B. Information on the Methodology Used for Assessment; INSTITUTIONAL AND MACROECONOMIC SETTING AND MARKET STRUCTURE; PRECONDITIONS FOR EFFECTIVE BANKING SUPERVISION; A. Main Findings; TABLES; 1. Summary Compliance with the Basel Core Principles-Detailed Assessments; RECOMMENDED ACTIONS; 2. Recommendations to Improve Compliance with the Basel Core Principles; DETAILED ASSESSMENT; 3. Detailed Assessment of Compliance with the Basel Core Principles 330 3 $aThere have been significant improvements in both the quality of regulation and the supervisory approach since the 2007 FSAP. Many amendments to existing laws, new laws, and regulations have been introduced, aimed at addressing shortfalls identified in the 2007 FSAP. These improvements will be evident throughout this assessment. At the same time, a number of weaknesses have been identified. Among these is an operational risk within the NBG?s own Banking Supervisory Department. There has been a very high level of staff turnover in recent years due to a lack of salary competitiveness vis-à-vis the commercial banks, and there appears to be over-reliance on key personnel. Also, the level and type of staff training need to be expanded. While the NBG puts significant effort into understanding the risk profile of each individual bank and the banking system as a whole, more attention is needed to improve the quality of risk management of the banks. In a number of areas, notably bank licensing, the NBG relies on its broad supervisory powers to carry out its functions in the absence of detailed explicit powers. While this regime generally seems to work well in practice, it could leave the NBG open to challenge where these broad powers are not supported by more granular powers. Recently, several amendments to the legislation have been introduced in order to address these shortcomings. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2015/010 606 $aBanks and banking$xState supervision$zGeorgia 606 $aBanking law$zGeorgia 606 $aFinancial institutions$xState supervision$zGeorgia 606 $aFinancial institutions$xLaw and legislation$zGeorgia 606 $aBanks and Banking$2imf 606 $aIndustries: Financial Services$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aFinancing Policy$2imf 606 $aFinancial Risk and Risk Management$2imf 606 $aCapital and Ownership Structure$2imf 606 $aValue of Firms$2imf 606 $aGoodwill$2imf 606 $aBanking$2imf 606 $aFinancial services law & regulation$2imf 606 $aFinance$2imf 606 $aCommercial banks$2imf 606 $aMarket risk$2imf 606 $aCredit risk$2imf 606 $aOperational risk$2imf 606 $aFinancial institutions$2imf 606 $aFinancial regulation and supervision$2imf 606 $aLoans$2imf 606 $aBanks and banking$2imf 606 $aFinancial risk management$2imf 607 $aGeorgia$2imf 615 0$aBanks and banking$xState supervision 615 0$aBanking law 615 0$aFinancial institutions$xState supervision 615 0$aFinancial institutions$xLaw and legislation 615 7$aBanks and Banking 615 7$aIndustries: Financial Services 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aFinancing Policy 615 7$aFinancial Risk and Risk Management 615 7$aCapital and Ownership Structure 615 7$aValue of Firms 615 7$aGoodwill 615 7$aBanking 615 7$aFinancial services law & regulation 615 7$aFinance 615 7$aCommercial banks 615 7$aMarket risk 615 7$aCredit risk 615 7$aOperational risk 615 7$aFinancial institutions 615 7$aFinancial regulation and supervision 615 7$aLoans 615 7$aBanks and banking 615 7$aFinancial risk management 676 $a332.1 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788161803321 996 $aGeorgia$92664553 997 $aUNINA