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Financial stability report

The Central Bank of Armenia presents the results of review of financial stability in its Financial Stability Report (FSR). The Central Bank has been publishing the report annually since 2007, and also semi-annually, since 2010.
The main goal of FSR is description of potential risks to the country’s financial stability in the short-term horizon in the context of past and expected developments in real and financial sectors of the economy.  FSR provides the assessment of the Central Bank on financial stability for a certain period of time, the current risks, and the measures aimed at preventing or absorbing these risks.​ ​
Publishing of the report allows to raise the awareness of financial institutions, companies, businesses and the population, while ensuring the transparency of the Central Bank’s activities. Providing of information on sources of potential risks and financial stability vulnerabilities, in turn, aims to guide the public in making right decisions.​ 

Risks affecting the financial stability of Armenia may arise in the domestic economy of Armenia, outside the country, in an external economic environment, and in the financial system itself. Based on the above, FSR of the Central Bank of Armenia addresses the risks in the following main directions:

  • Risks deriving from global economic developments
  • Risks determined by developments in Armenia’s macro-environment
  • Risks deriving from developments in Armenia’s financial market
  • Risks deriving from financial institutions in Armenia
  • Risks deriving from financial infrastructures in Armenia
  • Implementing a required macro-prudential policy to contain or neutralize such risks.​

Financial stability reports
Messages and Articles

Electronic Government of the Republic of Armenia

Financial System Mediator

Armenian Deposit Guarantee Fund

Armenian Card

Armenian Motorinsurers’ Bureau

National Mortgage Company

ACRA Credit Reporting

German-Armenian Fund

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