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A joint IMF and World Bank program introduced in May 1999, the FSAP aims to increase the effectiveness of efforts to promote the soundness of financial systems in member countries.

Supported by experts from a range of national agencies and standard-setting bodies, work under the program seeks to identify the strengths and vulnerabilities of a country's financial system; to determine how key sources of risk are being managed; to ascertain the sector's developmental and technical assistance needs; and to help prioritize policy responses. It also forms the basis of Financial System Stability Assessments, in which IMF staff address financial sector issues of relevance to IMF surveillance, including risks to macroeconomic stability stemming from the capacity of the financial sector to absorb macroeconomic shocks.

Source Publication:
IMF, 2004, Compilation Guide on Financial Soundness Indicators, IMF, Washington DC, Appendix VII, Glossary.

Statistical Theme: Financial statistics

Created on Thursday, August 26, 2004

Last updated on Thursday, August 26, 2004