Denmark: Financial Sector Assessment Program-Technical Note-Financial Safety Net and Crisis Management Arrangements

Author: International Monetary Fund. Monetary and Capital Markets Department

Financial Sector Assessment Program-Technical Note-Financial Safety Net and Crisis Management Arrangements

Volume/Issue: Volume 2020 Issue 257

Publication date: August 2020

ISBN: 9781513553078

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , Money and Monetary Policy , International - Economics , liquidity assistance in Resolution , B , liquidity assistance , FSAP's finding , Denmark FSAP , B , recovery planning , Bank resolution framework , Crisis management framework , Crisis resolution , Bank resolution , Baltics

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Summary

Since the 2014 FSAP, Denmark’s financial safety net and crisis management frameworks, including bank resolution, have improved significantly. In response to the FSAP and the transposition of the pertinent European Union (EU) rules, Denmark has enacted major reforms including new legislation for resolution and deposit insurance, introduced a resolution framework for banks and mortgage credit institutions (MCIs), designated two national resolution authorities, established resolution colleges, changed the governance of the deposit insurance system (DIS) and revived cross-border cooperation through the Nordic-Baltic Stability Group (NBSG), including through revising an earlier memorandum of understanding (MOU) and conducting a joint crisis simulation in 2019.