|Project Name||Policy and Institutional Support for Banking Sector Systemic Risk Management|
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Governance and capacity development
Private sector development
|Sector / Subsector||
Finance / Banking systems and nonbank financial institutions
|Gender Equity and Mainstreaming|
|Project Rationale and Linkage to Country/Regional Strategy|
|Impact||Stronger and broaderbased economic recovery supported by a healthy banking sector.|
|Description of Outcome||A conducive and prudent policy and operating framework for systemic risk management for the banking sector and distressed assets resolution in place.|
|Progress Toward Outcome||Overall progress is on track to complete by 31 October 2014.|
|Description of Project Outputs||
1. BOM and Government leadership, authority, and capacity in systemic risk management of banking sector
3. Corporate governance structures and internal controls of commercial banks strengthened
4. A multifaceted approach for NPL resolution established, including asset management companies (AMCs)
5. Policy-related knowledge products geared to senior policy and decision makers.
6. Project management
2. Financial safety net to ensure the financial sector stability strengthened
|Status of Implementation Progress (Outputs, Activities, and Issues)||
During the review mission on 16-20 September 2013, the mission and EA agreed to various priorities and the timings for the remaining unfilled consultant positions.
Additional discussion was held and agreement made on the continued work for the exisiting consultants due to the recent extension approval for the TA through 31 October 2014.
The following are the achievements based on the project outputs:
1. A report was issued concerning preliminary recommednations on macro-prudential supervision and the financial stability safety-net.
2. The Deposit Insurance Corporation of Mongolia began operation in July 2013 based on operational inputs from consultants in deposit insurance and payouts.
3. The corporate governance framework for MongolBank was revised and approved and industry-wide training was held with the Corporate Governance Development Centre to promote the topic. A summary report was issued to the BOM regarding corporate governance, related party transactions, and large exposures.
Priority has been on filling the remaining unfilled consultant positions. The result has been the successful sourcing of consultants for consolidated supervision, the DSGE modeling, and internal controls. With these recruitments, all key positions have been filled and no further recruitment is expected before the end of the project on 31 October 2014. Work regarding NPL management has ended earlier than planned in December 2013 resulting in a budget savings. An extension of additional workdays for the DICOM consultants and that for macro-prudential issues was approved in December and work in these areas continues. Ongoing work to assist with the implementation of new accounting standards that are consistent with IFRS also continues.
Recruitment for the expert in DSGE modelling was completed and work has begun. Work has begun on a consolidated supervision framework.
|Summary of Environmental and Social Aspects|
|Stakeholder Communication, Participation, and Consultation|
|During Project Design||The Bank of Mongolia was actively involved in project preparation.|
|During Project Implementation||Regular consultation with the Bank of Mongolia during review missions.|
|Consulting Services||The project will use a mix of individual consultants and consulting firms, with more complex assignments being given to consulting firms to facilitate coordination of the inputs of the various experts.|
|Responsible ADB Officer||Giannetto, Giacomo G.|
|Responsible ADB Department||East Asia Department|
|Responsible ADB Division||Public Mgt, Financial Sector and Regional Coop Division, EARD|
Mr. B. Lkhagvasuren
October Street 6
|Concept Clearance||10 Aug 2009|
|Fact Finding||29 Jul 2009 to 04 Aug 2009|
|Approval||27 Nov 2009|
|Last Review Mission||-|
|PDS Creation Date||16 Jan 2010|
|Last PDS Update||29 Sep 2014|
|Approval||Signing Date||Effectivity Date||Closing|
|27 Nov 2009||25 Dec 2009||25 Dec 2009||31 Dec 2012||31 Oct 2014||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|2,000,000.00||0.00||300,000.00||0.00||0.00||0.00||2,300,000.00||27 Nov 2009||1,692,534.34|
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
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|Title||Document Type||Document Date|
|Policy and Institutional Support for Banking Sector Systemic Risk Management: Technical Assistance Completion Report||TA Completion Reports||Aug 2016|
|Policy and Institutional Support for Banking Sector Systemic Risk Management (Financed by the Japan Special Fund)||Technical Assistance Reports||Oct 2009|
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
None currently available.
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