Annual Report 2019
MAINTAINING FINANCIAL
STABILITY
view of maintaining financial stability in Armenia, efforts
were spent in 2019 to implement the recommendations
under the Financial Sector Assessment Program, FSAP, jointly
carried out by the International Monetary Fund and the World Bank
in 2018. Specifically, the capital conservation buffer, countercyclical
capital buffers and surcharge for systemically important banks were
introduced, work was done to implement the Basel 3 liquidity
standards, internationally practiced macroprudential tools, such as the
loan to value ratio, the debt to income ratio, and the Solvency 2. In
particular, the required information was collected and analytical
calculations were made for the smooth implementation of the capital
requirement under Solvency 2. Analytical work on risk detection and
evaluation was carried out.
In 2019, trends of sustainable development were
observable in the financial system of Armenia, ensuring a
significant increase in the main balance sheet items. Relative to
the previous period under review, the financial system's assets-
to-GDP ratio and lending-to-GDP ratio have grown by 8.9 pp
and 4.8 pp to 106.5% and 58.7%, respectively.
ANNUAL
REPORT 2019
33
COOPERATION WITH I
NTERNATIONAL ORGANIZATIONS
INSTITUTIONAL
DEVELOPMENT
CENTRAL BANK OF
OBJECTIVES
THE REPUBLIC OF ARMENIA
OTHER OBJECTIVES OF
THE BANK
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