Republic of San Marino : Selected Issues.

This Selected Issues paper for the Republic of San Marino analyzes options for managing systemic liquidity risk. The paper states that financial dollarization/euroization-as in the case of San Marino-or a currency board arrangement can complicate banking crisis management and increase the vulnerabil...

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Dettagli Bibliografici
Ente Autore: International Monetary Fund
Natura: Periodico
Lingua:English
Pubblicazione: Washington, D.C. : International Monetary Fund, 2010.
Serie:IMF Staff Country Reports; Country Report ; No. 2010/066
Accesso online:Full text available on IMF
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520 3 |a This Selected Issues paper for the Republic of San Marino analyzes options for managing systemic liquidity risk. The paper states that financial dollarization/euroization-as in the case of San Marino-or a currency board arrangement can complicate banking crisis management and increase the vulnerability of financial systems to liquidity shocks because they limit the ability of the monetary authority to act as a lender of last resort. The paper reviews the current pension system of San Marino, in comparison with other European pension systems, and analyzes its sustainability. 
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