IMF-马尔代夫：金融部门评估方案关于金融安全网和危机管理安排的技术说明（英）-2024.1.docx

INTERNATIONA1.MONETARYFUNDIMFCountryReportNo.24/20MA1.DIVESFINANCIA1.SECTORASSESSMENTPROGRAMJanuary2024TECHNICA1.NOTEONFINANCIA1.SAFETYNETANDCRISISMANAGEMENTARRANGEMENTSThispaperontheMaldiveswaspreparedbyastaffteamoftheInternationalMonetaryFundasbackgrounddocumentationfortheperiodicconsultationwiththemembercountry.ItisbasedontheinformationavailableatthetimeitwascompletedonDecember18,2023.CopiesofthisreportareavailabletothepublicfromInternationalMonetaryFundPublicationServicesPOBox92780Washington,D.C.20090Telephone:(202)623-7430Fax:(202)623-7201E-mail:Dublicationsimf.orgWeb:InternationalMonetaryFundWashington,D.C.©2024InternationalMonetaryFundHINTERNATIONA1.MONETARYFUND勺R、MA1.DIVESFINANCIA1.SECTORASSESSMENTPROGRAMDecember18,2023TECHNICA1.NOTEFINANCIA1.SAFETYNETANDCRISISMANAGEMENTARRANGEMENTSPreparedByMonetaryandCapitalMarketsDepartment,InternationalMonetaryFundThisTechnicalNotewaspreparedinthecontextofajointIMF-WorIdBankFinancialSectorAssessmentProgram(FSAP)missioninMaldivesduringMay2023ledbyTorstenWezel(IMF)andNatalieNicolaou(WB),andoverseenbytheMonetaryandCapitalMarketsDepartment,InternationalMonetaryFund,andtheFinanceandMarketsGlobalPractice,WorldBank.ThenotecontainsthetechnicalanalysisanddetailedinformationunderpinningtheFSAPassessmentsfindingsandrecommendations.FurtherinformationontheFSAPprogramcanbefoundatCONTENTSGlossary3EXECUTIVESUMMARY4INTR0DUC110N9INSTITUnONA1.FRAMEWORKANDINTER-AGENCYARRANGEMENTS10A. InstitutionalArrangements10B. Inter-AgencyArrangements13C. SummaryofRecommendations15EAR1.YINTERVENTION,ANDRECOVERYANDRESO1.UTIONP1.ANNING15A. EarlyIntervention15B. RecoveryandResolutionPlanning17C. SummaryofRecommendations19BANKRESO1.UTIONANDUQUIDATION19A. KeyIssues19B. SummaryofRecommendations25C. ERGENCY1.IQUIDITYASSISTANCEAND1.IQUIDITYINRESO1.UTION26A. KeyIssues26B. SummaryofRecommendations28C. POSITINSURANCEANDRESO1.UTIONFUNDING29A. DepositorProtectionandPayout29B. ResolutionFunding30C. SummaryofRecommendations31CONTINGENCYP1.ANNINGANDCRISISMANAGEMENT32A. KeyIssues32B. SummaryofRecommendations32BOXES1. OverviewofMMASupervisoryToolstoAddressRisksandWeaknesses172. RecoveryandResolutionPlanning183. DifferentFormsofDepositorPreference25FIGURE1.BankResolutionand1.iquidationProcess20TAB1.E1.RecommendationsonBankResolutionandCrisisManagement6GlossaryBOFDCMDADIFDIRDISE1.AEWIEWSFSBFSCFSNFXKAsM&AMBAMMAMVRMOFMOUP&ARRPBanksandOtherFinancialInstitutionsDivisionCapitalMarketDevelopmentAuthorityDepositInsuranceFundDepositInsuranceRegulationDepositInsuranceSystemEmergency1.iquidityAssistanceEarlywarningindicatorEarlywarningsystemFinancialStabilityBoardFinancialStabilityCommitteeFinancialSafetyNetForeignexchangeKeyAttributesofEffectiveResolutionRegimesforFinancialInstitutionsMergerandacquisitionMaldivesBankingActMaldivesMonetaryAuthorityMaldivianRufiyaaMinistryofFinanceMemorandumofUnderstandingPurchaseandassumptionRecoveryandResolutionPlanningEXECUTIVESUMMARY】Maldiveslegislationincludesimportantelementsofafinancialsafetynetandcrisismanagementframeworkbutthereareareasforstreamliningandimprovement.Shortcomingsintheearlyinterventionandbankresolutionframeworksneedtobeaddressed,includinginternalarrangementsontheescalationprocessfromtheexerciseoftheMMA,spowertotakeenforcementactionsthroughtotheinitiationofresolution.Theoveralldesignoftheresolutiontoolsiscomplex-theMBAincludesdifferentmechanismsforthesameresolutiontools-andrequiresstreamlining.MMAshoulddevelopaneffectiveemergencyliquidityassistanceframework.Depositinsurancesystemshouldbeenhanced.InstitutionalandinteragencyarrangementsinMaldivesneedstobeenhanced.Thecooperationacrossfinancialsafetynetparticipantsneedstobestrengthened,includingtaskingtheFinancialStabilityCommittee,withresponsibilitiesforcrisispreparednessandmanagement.Inaddition,MMAshouldestablishworkingrelationshipswithresolutionauthoritiesinforeignjurisdictions,reservingtherightofdiscretionarynationalactionandsubjecttoappropriateconfidentialityrequirements.TheMaldivesBankingAct(MBA)providestoolsfortheMMAtoimplementearlyinterventionandresolutionmeasures.However,thereareshortcomingsthatneedtobeaddressedtoenhancebothframeworksandalignthemwithinternationalgoodpractices. MMAneedstoestablishaclearerandforward-lookingsetofearlyinterventiontriggersandt.Inaddition,theMMAshouldissuerelevantregulationsorguidelinesforoperationalizingtheearlyinterventionregimecomprisingpreventativeandcorrectiveactions. MMAshouldbeauthorizedtorequirebankstohavearecoveryplanthatcomplieswithrequirementstobespecifiedbytheMMA.Recoveryplanningshouldstartwithapilotprogramfocusingonthelargestbank. Similarly,theMMAshouldpreparearesolutionplanforsystemicallyimportantbanksandperformaccompanyingresolvabilityassessments.Undertheresolutionplan,theMMAshoulddeterminetheresolutionstrategiesforthebankbasedontheassessmentofhowt