Union of Comoros: Technical Assistance Report-Operationalization of the Revised Law on the Resolution of Financial Institutions
Union of Comoros: Technical Assistance Report-Operationalization of the Revised Law on the Resolution of Financial Institutions
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Volume 2025
Issue 058
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Banks and Banking , Financial safety net , resolution framework , resolution planning , resolution funding , depositor preference , resolution manual , Union of Comoros , , Bank resolution framework , Crisis resolution , Bridge bank
Summary
In August-September 2024, the IMF's Monetary and Capital Markets Department assisted the Central Bank of Comoros (BCC) in operationalizing a special resolution regime under the Law on the Recovery and Resolution of Financial Institutions (LRIF). The technical assistance focused on enhancing the BCC's capacity for bank restructuring and resolution, including on resolution tool and funding mechanism, and depositor preference. Despite progress in legal framework development, challenges persist, in particular due to the underdeveloped financial safety net and the absence of liquidity support mechanisms. Recommendations emphasize prioritizing suitable resolution tools, strengthening the liquidity assistance framework and establishing a resolution funding mechanism to enhance financial stability in Comoros.
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