Good overall progress has been made in addressing the FSAP
Good overall progress has been made in addressing the FSAP recommendations in both
areas, although several elements of the reforms are ongoing. Going forward, the authorities
need to expeditiously develop and implement a comprehensive macroprudential strategy, and
to further strengthen the banking and insurance supervisory frameworks in order to enhance
risk identification and allow for timely intervention in financial institutions. An important
driver of developments in this context has been, and will continue to be, EU initiatives.