TY - BOOK ID - 84547331 TI - Cyprus : Financial Sector Assessment Program: Financial System Stability Assessment. AU - International Monetary Fund. AU - International Monetary Fund PY - 2009 SN - 1462300014 1452768668 1280883928 1451879024 9786613725233 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Banks and Banking KW - Finance: General KW - Industries: Financial Services KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Financial Institutions and Services: Government Policy and Regulation KW - General Financial Markets: Government Policy and Regulation KW - Banking KW - Finance KW - Cooperative banks KW - Stress testing KW - Financial Sector Assessment Program KW - Commercial banks KW - Financial institutions KW - Financial sector policy and analysis KW - Loans KW - Banks and banking KW - Banks and banking, Cooperative KW - Financial risk management KW - Financial services industry KW - Cyprus UR - https://www.unicat.be/uniCat?func=search&query=sysid:84547331 AB - This paper discusses key findings of the Financial System Stability Assessment on Cyprus. The assessment reveals that the banking system of Cyprus has managed to avoid the worst effects of the global financial crisis, but stress tests confirmed that credit risk remains high. The assessment suggests that work on the crisis contingency framework should be completed. Various European Union (EU)-wide and national initiatives are already under way, including strengthening deposit insurance, drafting guidelines for emergency liquidity assistance, and adopting a legal framework for covered bonds to facilitate access to European Central Bank refinancing. ER -