Georgia
In: IMF Staff Country Reports v.Country Report No. 15/9
The National Bank of Georgia (NBG) has a broad mandate to safeguard financial stability inGeorgia and has applied several measures that can be considered macroprudential. For instance, the NBG adjusted risk weights for foreign-currency (FX) loans to unhedged borrowers in a countercyclical manner in recent years. Going forward, it plans to introduce the Basel III countercyclical capital buffer regime for the banking system in 2015, which will require that it sets or releases the buffer on a regular basis, based on assessments of cyclical risks.Policymakers should consider establishing a full-fl