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240607 ||| eng |
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|a 9798400241758
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| 245 |
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|a Albania
|b Technical Assistance Report—Investment Funds and Interconnectedness Risks
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2023
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| 300 |
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|a 21 pages
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| 651 |
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4 |
|a Albania
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| 653 |
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|a Sovereign bonds
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| 653 |
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|a Finance
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Financial sector policy and analysis
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| 653 |
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|a Financial services
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| 653 |
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|a International organization
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| 653 |
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|a Financial markets
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| 653 |
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|a International institutions
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| 653 |
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|a Financial risk management
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| 653 |
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|a Bonds
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| 653 |
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|a Capital and Ownership Structure
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| 653 |
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|a Goodwill
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| 653 |
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|a Financial Institutions and Services: General
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| 653 |
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|a International Economics
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| 653 |
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|a Corporate bonds
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| 653 |
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|a Financial Risk and Risk Management
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| 653 |
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|a Mutual funds
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| 653 |
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|a Financing Policy
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| 653 |
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|a International Agreements and Observance
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| 653 |
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|a Institutional Investors
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| 653 |
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|a International Organizations
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| 653 |
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|a Pension Funds
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| 653 |
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|a Monetary economics
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| 653 |
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|a Financial institutions
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| 653 |
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|a Value of Firms
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| 653 |
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|a Financial Instruments
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| 653 |
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|a International agencies
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| 653 |
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|a Capital market
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| 653 |
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|a Financial Institutions and Services: Government Policy and Regulation
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a Investments: Bonds
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| 653 |
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|a Non-bank Financial Institutions
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Financial services industry
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| 653 |
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|a Monetary policy
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| 653 |
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|a Investment & securities
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Finance: General
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| 653 |
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|a Financial services law & regulation
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| 653 |
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|a Stress testing
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| 653 |
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|a Securities markets
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| 710 |
2 |
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|a International Monetary Fund
|b Monetary and Capital Markets Department
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Staff Country Reports
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| 028 |
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|a 10.5089/9798400241758.002
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| 856 |
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|u https://elibrary.imf.org/view/journals/002/2023/167/002.2023.issue-167-en.xml?cid=533512-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a This paper presents the technical assistance report on investment funds and interconnectedness risks in Albania. The fund sector has been expanding and remains highly concentrated. Interconnectedness between funds and the rest of the financial system is limited. On the liability side, retail investors mainly hold fund shares, and institutional investors play a minor role. On the asset side, funds do not have significant direct exposures to securities issued by financial entities. Exposures to the sovereign market are the main risk transmission channel between funds and the rest of the financial system, given the lack of liquidity of domestic sovereign bonds. The review recommends that Albanian Financial Services Authority (AFSA) should enhance its risk monitoring of the fund sector and its interlinkages with the rest of the financial system. The review recommends that AFSA consider expanding the range of Liquidity Management Tools available to funds. The current regulatory framework only foresees suspension of redemptions, while other tools could be used to mitigate the risk of destabilizing redemptions
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