01727cas a2200241 a 4500 AALejournalIMF006129 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451809985 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Cyprus : Financial Sector Assessment Program; Financial System Stability Assessment. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (60 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper discusses key findings of the Financial System Stability Assessment on Cyprus. The assessment reveals that the banking system of Cyprus has managed to avoid the worst effects of the global financial crisis, but stress tests confirmed that credit risk remains high. The assessment suggests that work on the crisis contingency framework should be completed. Various European Union (EU)-wide and national initiatives are already under way, including strengthening deposit insurance, drafting guidelines for emergency liquidity assistance, and adopting a legal framework for covered bonds to facilitate access to European Central Bank refinancing. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2009/308 Full text available on IMF http://elibrary.imf.org/view/journals/002/2009/308/002.2009.issue-308-en.xml IMF e-Library