NBG Became a Member of a Working Group on Stress Tests at Basel Committee
According towards the bank, this group preps implementing advanced approaches in international supervisory policy, and the principles that this develops constitute international standards.
The National Bank of Georgia, combined with the representatives from leading supervisory institutions, has been working in this particular group since 2014 on developing international principles for determining prudential norms for Asset Quality Review (AQR). This holiday season, NBG registered a functioning group on stress tests, as well as the first meeting with this working group is going to be located in New york city on June 21. Representatives from European Central Bank, together with those with the supervisory institutions of america, Canada, Australia, Japan as well as other civilized world will be involved in this meeting.
The National Bank of Georgia shall be represented by David Utiashvili, Head of Financial Risks and Macroprudential Policy Division, within Specialized Groups and Supervisory Policy Department.
“Involved in improvement international standards is a superb honor and possibility of us. Doing work in such expert groups is among the most best ways of receiving highly valuable practical supervisory knowledge, which is often not realistic only by reading publically available materials. Further, we will make an effort to share our innovative approaches with your colleagues, simply because these approaches were assessed as exemplary for even advanced counties by Financial Sector Assessment Program (FSAP) mission of 2014”, – Otar Nadaraia, Deputy Governor from the National Bank of Georgia stated.