Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/270757 
Year of Publication: 
2021
Series/Report no.: 
Série de publications occasionnelles de l’IMAO No. 24
Publisher: 
Institut Monétaire de l'Afrique de l'Ouest (IMAO), Accra
Abstract: 
In this study, we benchmarked the crisis resolution frameworks of the Member States of the West African Monetary Zone (WAMZ) with the Financial Stability Board's Key Attributes (KAs) of effective resolution regime for financial institutions, using survey-based methodology. Questionnaires, reflecting the essential criteria of each KA were self-administered by WAMZ Member Central Banks. We generally observed that, banking crisis management provisions in the parent legislations of WAMZ Member States had apparent shortcomings when juxtaposed with the KAs. In particular, norms to govern set-off rights, contractual netting, collateralisation agreements and client assets segregation; establishment of crisis management groups; conduct of regular resolvability assessment and recovery and resolution plans are not adequately captured. In the light of increasing cross-border and pan-African banking activities in the Zone, it would be expedient for Member States to strengthen their legal and regulatory frameworks with these provisions relevant for the resolution of such banks.
Subjects: 
Crisis Resolution
Key Attributes
WAMZ
banking crisis
essential criteria
questionnaire
JEL: 
G01
G21
G28
G33
Document Type: 
Research Report

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