Seychelles: Technical Assistance Report-Bank Resolution Framework
Seychelles: Technical Assistance Report-Bank Resolution Framework
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Volume/Issue:
Volume 2024
Issue 054
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Banks and Banking , Finance , Seychelles , key attributes , banking , corrective actions , emergency liquidity assistance , bank resolution , moral hazard , public funds , resolution funding mechanism , resolution options , entry into resolution , deposit insurance scheme , financial stability , recovery plans , resolution plans , resolvability assessments , domestic coordination , cross border coordination , , bank resolution law , IMF legal department , IMF's Monetary , request of the Central Bank of Seychelles , MCM STX , IMF Monetary , Bank resolution framework , Financial sector stability , Bridge bank , Options , South Asia , Global
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Summary
The IMF conducted a technical assistance to Central Bank of Seychelles (CBS) and provided policy and legal guidance to the CBS on the drafting of legal amendments that will provide an adequate institutional framework and effective powers for bank resolution, and thus contribute to financial stability, while limiting the use of public funds and addressing moral hazard concerns. The mission provided recommendations on corrective actions, emergency liquidity assistance (ELA) and bank resolution frameworks to enhance their alignment with international best practices, FSB’s Key Attributes of Effective Resolution Regimes for Financial Institutions (KAs) and good practice.
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