August 21, 2017

The IMF Executive Board concluded the 2017 Article IV consultation with the Kingdom of Bahrain. Directors welcomed results of the recent stress tests, along with the recent improvements in financial sector data.

Directors welcomed the Financial Sector Assessment Program (FSAP) stress test results, which highlight that the banking sector appears well-positioned to face moderate credit and liquidity shocks. However, the results indicate that recapitalization needs could be significant under a severe shock scenario. Liquidity stress tests suggest that most banks’ liquidity positions are relatively robust, but some wholesale banks and foreign branches hold few liquid assets. They welcomed the central bank’s efforts to implement FSAP recommendations to strengthen the regulation and supervision of the financial sector, including steps to introduce quantitative liquidity requirements for banks and to develop a macro-prudential framework. A clear legal mandate for financial stability, stronger risk-based supervision, and enhanced crisis management and resolution framework will also help support the financial sector.

 

Related Link: Press Release

Keywords: Middle East and Africa, Bahrain, Banking, Article IV, FSAP, Stress Testing, IMF

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