刚果民主共和国：技术援助报告法定特别银行处置制度的实施（英）

Investment Rating - The report does not explicitly provide an investment rating for the industry or the specific mechanisms discussed. Core Insights - The implementation of the Special Resolution Regime (SRR) is crucial for addressing the weaknesses in the financial safety net of the Democratic Republic of Congo (DRC) [8][26]. - The report emphasizes the need for legal reforms to establish a solid foundation for the SRR, although it acknowledges that immediate legal changes may not be feasible [9][24]. - The report identifies significant weaknesses in the current legal framework that hinder the effective implementation of the SRR, particularly regarding judicial review of resolution decisions [11][27]. Summary by Sections Introduction: Background, Financial Sector, Financial Safety Net - The financial sector in DRC is weak and highly concentrated, with total financial assets accounting for 24.7% of GDP in 2021, and banks holding 97% of the financial system's assets [25]. - The Central Bank of Congo (BCC) has been utilizing IMF technical assistance to build a financial safety net, which includes the adoption of a new banking law in December 2022 that incorporates the SRR [26]. I. Operationalization of the Special Resolution Regime - The BCC should prioritize the operationalization of resolution tools, specifically the partial sale and bridge institution as preferred and alternative solutions respectively [12][29]. - The report suggests that the BCC should prepare a preliminary resolution plan draft for a selected systemic bank, estimating the required resolution tools and funding needs [19][30]. II. Establishing Resolution Functions and Procedures - The report commends the BCC for establishing a resolution function independent of central bank supervisory functions to avoid conflicts of interest [17]. - It highlights the need for internal mechanisms to ensure smooth communication and coordination between the resolution function and supervisory roles [18]. III. Individual Resolution Plan Drafting - The report encourages the BCC to begin drafting individual resolution plans for systemic banks, utilizing templates provided in the appendices [19]. - It emphasizes the importance of assessing the resolvability of each credit institution and developing regulations for reporting requirements [20][21]. Valuation and Funding Mechanisms - The report discusses the necessity of a resolution funding mechanism to ensure the effectiveness of resolution measures, particularly in cases where the transfer of assets does not match the liabilities [46][48]. - It identifies the lack of a public resolution financing mechanism in the banking law, which is inconsistent with international standards [48]. Liquidity During Resolution Process - The report outlines the need for liquidity support during the resolution process, suggesting that the BCC should establish a mechanism to provide liquidity in line with international best practices [55]. - It stresses the importance of preparing for potential liquidity demands during the resolution of failing banks [55]. Clearing Authority - The BCC is granted the authority to initiate the liquidation of failing banks, but it must be prepared for the decision-making process as outlined in the banking law [56].