[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110886-en":3,"doc-seo-110886-105":29,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},110886,13056703019662,"Evangeline","https://ap-avatar.wpscdn.com/avatar/be000253a8e92610077?_k=1778726343310543188",8,"Research & Report","Financial Sector Assessment Program - 2021 Review","Financial Sector Assessment Program (FSAP) is a long-running joint World Bank and IMF initiative that evaluates the strengths, risks, and vulnerabilities of national financial systems. Created in 1999 to support financial sector surveillance, detect emerging vulnerabilities, and inform development priorities, it has produced extensive assessments across participating countries. The 2021 Review examines FSAP adequacy and traction, including stakeholder views, country coverage, thematic scope, COVID-19 implications, actions taken, and forward-looking considerations.","Public Disclosure Authorized Public Disclosure Authorized  \n THE WORLD BANK GROUP  \nFINANCIAL SECTOR ASSESSMENT PROGRAM:  \n2021 REVIEW  \nPREPARED BY FINANCE, COMPETITIVENESS, AND INNOVATION GLOBAL PRACTICE1 EQUITABLE GROWTH, FINANCE, AND INSTITUTIONS  \nMAY 2021  \n1 The preparation of this report was closely coordinated with the International Monetary Fund (IMF) . This report benefited from comments from the Finance, Competitiveness, and Innovation (FCI) Global Practice, Development Economics (DEC), Operations Policy and Country Services (OPCS), and Legal (LEG) . The IMF will hold its own Financial Stability Assessment Program (FSAP) Board meeting in May 2021, with a focus on financial stability aspects.  \nCONTENTS  \nEXECUTIVE SUMMARY_____________________________________________________________________________ iii  \nI. CONTEXT__________________________________________________________________________________________ 1  \nII. FSAP ADEQUACY _________________________________________________________________________________ 4  \nA. The view of stakeholders ________________________________________________________________ 5  \nB. Country coverage and participation_____________________________________________________ 7  \nC. Thematic coverage______________________________________________________________________ 10  \nIII. FSAP TRACTION ________________________________________________________________________________ 15  \nA. Relevance for the assessed countries, policy makers and other relevant stakeholders 15  \nB. Integration into the WB country engagement and strategies__________________________ 15  \nIV. COVID-19 IMPLICATIONS FOR THE FSAP ______________________________________________________ 19  \nV. ACTIONS TAKEN AND FORWARD-LOOKING CONSIDERATIONS ______________________________ 21  \nANNEXES __________________________________________________________________________________________25  \nAnnex 1. Main milestones in the FSAP history_____________________________________________________26  \nAnnex 2. WB-IMF collaboration in the FSAP context ______________________________________________27  \nAnnex 3. Examples of FSAP integration into WB country strategies (EFI/FCI) _____________________ 28  \nAnnex 4. FSAP follow-up and WBG projects_______________________________________________________30  \nFIGURES  \nFigure 1. Quality of the FSAP assessments according to country authorities ______________________ 6  \nFigure 2. Quality of the FSAP recommendations ___________________________________________________ 7  \nFigure 3. FSAPs completed by the WB and the IMF (FY15–20) _____________________________________ 8  \nFigure 4. FSAP coverage of EMDEs and use of Development Modules ____________________________ 9  \nFigure 5. How to increase FSAP participation according to FSAP WB leaders_____________________ 10  \nFigure 6. Technical notes on selected thematic topics (FY15-20)__________________________________ 11  \nFigure 7. Thematic priorities for country authorities and FSAP teams_____________________________ 12  \nTABLES  \nTable 1. FSAPs where fintech issues were covered ________________________________________________ 13  \nTable 2. FSAPs where cyber risks were covered ___________________________________________________ 14  \nBOXES  \nBox 1. Coverage of FSAPs in FCV countries_________________________________________________________ 9  \nACRONYMS  \nAML/CFT Anti-Money Laundering/Combating the Financing of Terrorism  \nASA Advisory Services and Analytics  \nBCP Basel Core Principles for Effective Banking Supervision  \nCD Country Director  \nCMU Country Management Unit  \nCPF Country Partnership Framework  \nDEC Development Economics Vice Presidency  \nDPF Development Policy Financing  \nDPL Development Policy Lending  \nDPO Development Policy Operation  \nED Executive Director  \nEFI Equitable Growth, Finance, and Institutions  \nEMDEs Emerging Markets and Developing Economies  \nEU European Union  \nF4D Finance for Development  \nFATF Financial Action Task Force  \nFCI Finance, Competitiven","cbCaiaUK64YiuzrL","https://ap.wps.com/l/cbCaiaUK64YiuzrL","pdf",547267,1,38,"English","en",105,"# Executive Summary\n# Context\n## FSAP adequacy\n## FSAP traction\n## COVID-19 implications for the FSAP\n## Actions taken and forward-looking considerations\n# Annexes","[{\"question\":\"What is the Financial Sector Assessment Program (FSAP) and who runs it?\",\"answer\":\"FSAP is a joint program established by the World Bank and the IMF to assess financial systems’ strengths, risks, and vulnerabilities. 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It also assesses relevance for assessed countries and how FSAP is integrated into World Bank engagement and strategies.\"},{\"question\":\"How does the review address COVID-19 implications for FSAP?\",\"answer\":\"The document includes a dedicated section analyzing COVID-19 implications for FSAP, followed by actions taken and forward-looking considerations to guide next steps.\"}]",1784487558,96,{"code":4,"msg":30,"data":31},"ok",{"site_id":24,"language":23,"slug":32,"title":13,"keywords":33,"description":14,"schema_data":34,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":27},"financial-sector-assessment-program-2021-review","",{"@graph":35,"@context":85},[36,53,68],{"@type":37,"itemListElement":38},"BreadcrumbList",[39,43,47,50],{"item":40,"name":41,"@type":42,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":44,"name":45,"@type":42,"position":46},"https://docshare.wps.com/document/","Document",2,{"item":48,"name":12,"@type":42,"position":49},"https://docshare.wps.com/document/research-report/",3,{"item":51,"name":13,"@type":42,"position":52},"https://docshare.wps.com/document/financial-sector-assessment-program-2021-review/110886/",4,{"url":51,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":40,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-22","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"What is the Financial Sector Assessment Program (FSAP) and who runs it?","Question",{"text":75,"@type":76},"FSAP is a joint program established by the World Bank and the IMF to assess financial systems’ strengths, risks, and vulnerabilities. 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