Azerbaijani Central Bank intends to strengthen measures to preserve financial stability in 2010.
The Central Bank of Azerbaijan intends to strengthen measures to preserve financial stability in 2010, reads the statement of the Central Bank about main directions of the CBA policy for 2010.
“The measures will mostly be aimed at flexible regulation of risks in the banking system”, the statement says.
To this end, the Central Bank will take the following steps:
Further creation of financial resources and policy of capitalization in the banking sector;
Keeping liquidness on appropriate level;
Strengthening frames of counter-cycle in the banking sector
Strengthening control over quality of banks’ credit portfolio;
Raising potential of corporate government and risks management.
“To this end we will overhaul tools of banking control, primarily, we will hold integration of the early alarm system and start introducing new prudential reporting system”, the statement says.
Also the bank will hold measures for the institutional development of the financial sector, in particular, hold measures for consolidation of the banking sector and restructure in systemic banks. New mechanisms and institutes of access to financial resources will be stimulated in line with the requirements of the economic capitalization while special attention will be paid to accelerating these processes in regions. The activity of nonbanking credit organizations will be expanded under the new law and the microfinancing network will be expanded.
1news.az