The Financial Stability Report is an annual publication issued by the National Bank of Georgia (NBG). It presents an assessment of vulnerabilities and risks in the financial system, with a focus on the long-term, structural features of the financial sector and the Georgian economy that are of importance for financial stability. It also analyses the domestic financial system’s resilience. In addition, the report reviews policies and measures implemented by the NBG to ensure financial stability. In particular, macroprudential measures, focused on the banking system as a whole, and microprudential measures, which strengthen the position of individual institutions, are detailed.