TY - BOOK ID - 11315431 TI - The Republic of Kazakhstan : Financial System Stability Assessment. PY - 2014 SN - 1498311008 1322141444 149832861X 1498372368 1484384709 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Banks and banking -- Kazakhstan -- Evaluation. KW - Finance -- Kazakhstan -- Evaluation. KW - Finance -- State supervision -- Kazakhstan. KW - International monetary fund -- Kazakhstan. KW - Finance KW - Business & Economics KW - Banking KW - Banks and banking KW - Funding KW - Funds KW - Agricultural banks KW - Banking industry KW - Commercial banks KW - Depository institutions KW - Economics KW - Currency question KW - Financial institutions KW - Money KW - Banks and Banking KW - Public Finance KW - Industries: Financial Services KW - Money and Monetary Policy KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Social Security and Public Pensions KW - Financial Institutions and Services: Government Policy and Regulation KW - Monetary Policy, Central Banking, and the Supply of Money and Credit: General KW - Pensions KW - Financial services law & regulation KW - Monetary economics KW - Nonperforming loans KW - Pension spending KW - Capital adequacy requirements KW - Credit KW - Loans KW - Financial regulation and supervision KW - Expenditure KW - Asset requirements KW - Kazakhstan, Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:11315431 AB - This Financial System Stability Assessment highlights that the global financial crisis exposed serious bank vulnerabilities in Kazakhstan. The authorities successfully contained the ensuing systemic crisis, however, left unaddressed important weaknesses that continue to linger. The government has nationalized three of the largest banks and restructured their external obligations, thus preventing a collapse of the banking system. The banks’ solvency situation is adequate but somewhat fragile as a result of legacy problems. A faster transition to risk-based oversight is needed. The relative vulnerability of banks to shocks warrants increased emphasis on risk. This can be achieved through the adoption of more advanced risk-assessment tools and a more extensive use of stress test results for risk analysis. The financial safety net and resolution framework were upgraded during the crisis but need further adjustments. The government amended the resolution framework in 2009 to incorporate several desirable features such as restructuring, purchase and assumption, and bridge bank. However, during the crisis it bypassed the use of sequential crisis management tools and nationalized banks and restructured their external liabilities. The resolution framework suffers from the absence of special authority and requires the approval of depositors and creditors. Adjustments to the Emergency Liquidity Assistance framework are needed to limit its availability to solvent institutions. ER -