02124cas a2200277 a 4500 AALejournalIMF023228 230101c9999 xx r poo 0 0eng d 9798400220937 20.00 USD 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Monetary and Capital Markets Department. West African Economic and Monetary Union : Financial Sector Assessment Program-Technical Note on Systemic Risks and Macroprudential Policy Framework. Washington, D.C. : International Monetary Fund, 2022. 1 online resource (50 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 Since the 2008 Financial Sector Assessment Program (FSAP), the financial sector of the West African Economic and Monetary Union (WAEMU) has undergone major changes that have altered its risk profile. Three structural changes have played a key role since the 2008 FSAP: (i) the financial sector has grown significantly; (ii) regional banking groups have become dominant; and (iii) the high concentration of bank portfolios in sovereign exposures, which accounted for an average of 31 percent of banking assets at end-2020, are almost triple the level observed in 2004. These changes have altered the structure of systemic risks and vulnerabilities and raised the need for implementing reforms to strengthen the effectiveness of the macroprudential policy and banking supervision frameworks. Mode of access: Internet International Agreements and Observance imf International Organizations imf Monetary Policy imf IMF Staff Country Reports; Country Report ; No. 2022/309 Full text available on IMF https://elibrary.imf.org/openurl?genre=journal&issn=1934-7685&volume=2022&issue=309 IMF e-Library