Japan Financial Sector Assessment Program Technical Note On Systemic Risk Analysis And Stress Testing

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Japan

International Monetary Fund. Monetary and Capital Markets Department
Japan Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 126 pages
File Size : 43,7 Mb
Release : 2017-09-18
Category : Business & Economics
ISBN : 9781484319819

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Japan by International Monetary Fund. Monetary and Capital Markets Department Pdf

This Technical Note discusses the results of stress testing of the financial sector in Japan. The Japanese financial system appears generally resilient to short-term risks, but pockets of vulnerability exist. Overall, banks appear to have sufficient capital and liquidity buffers to cope with a scenario of severe recession owing to disruptions in global trade, and accompanied by a sharp increase in interest rates and risk premiums, and a decline in equity prices. Spillovers within the system also appear to be limited. At the same time, resilience is not equal among all institutions included in the analysis. Some life insurance companies and regional banks may need to strengthen their capital buffers.

Japan: Financial Sector Assessment Program-Technical Note on Systemic Risk Analysis and Stress Testing;

International Monetary Fund. Monetary and Capital Markets Department
Japan Financial Sector Assessment Program Technical Note on Systemic Risk Analysis and Stress Testing Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 190 pages
File Size : 44,6 Mb
Release : 2024-05-13
Category : Business & Economics
ISBN : 9798400275593

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Japan: Financial Sector Assessment Program-Technical Note on Systemic Risk Analysis and Stress Testing; by International Monetary Fund. Monetary and Capital Markets Department Pdf

The Japanese financial system has remained resilient through a series of shocks including the COVID-19 pandemic. Japan’s large and globally well-integrated financial system withstood the pandemic shock, aided by strong capital and liquidity buffers and extensive policy support. Credit provision to the private sector has remained robust since the pandemic, supporting a steady economic recovery.

New Zealand

International Monetary Fund. Monetary and Capital Markets Department
New Zealand Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 79 pages
File Size : 52,9 Mb
Release : 2017-05-10
Category : Business & Economics
ISBN : 9781475599923

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New Zealand by International Monetary Fund. Monetary and Capital Markets Department Pdf

This Technical Note discusses the results of stress testing of the banking sector and systemic risk analysis for New Zealand. The banking sector, which dominates the financial system, has significant exposure to real estate. A sharp decline in the real estate market, a prolonged period of low dairy prices, deterioration in global economic conditions, and a tightening in financial markets would adversely impact the system. Despite these risks, the banking system is resilient to severe shocks. Results of stress tests and sensitivity analysis indicate that the solvency and liquidity of the banking system can withstand adverse and severe shocks.

Finland

International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Finland Book PDF

Author : International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 61 pages
File Size : 42,9 Mb
Release : 2023-02
Category : Business & Economics
ISBN : 9798400231155

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Finland by International Monetary,International Monetary Fund. Monetary and Capital Markets Department Pdf

Finland is a small open economy that is significantly exposed to global financial and economic conditions. Following the Global Financial Crisis (GFC), Finland entered a long recession led by the decline of its information and communications technology (ICT) sector. With the implementation of some structural reforms, Finland’s competitiveness improved, as did growth and employment, albeit at a lower rate of growth. The economy was less significantly affected by the COVID-19 pandemic relative to other economies, thanks to its low exposure to service-intensive economic sectors, fiscal policy, and other interventions. However, Finland is now navigating a weaker economic outlook given the war in Ukraine, despite limited direct exposures to Russia.

Japan

International Monetary Fund
Japan Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 36 pages
File Size : 41,5 Mb
Release : 2012-09-07
Category : Business & Economics
ISBN : 9781475510447

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Japan by International Monetary Fund Pdf

This Spillover Report analyses the potential channels of financial system spillovers in Japan that policymakers should keep in mind. The report also highlights some of the potential challenges faced by Japanese financial institutions in managing risks developed owing to overseas exposure. The Executive Board acclaims the importance of an institutional and regulatory framework in managing spillover channels. The report is a guideline as to how Japan developed to win its position in the world.

People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Stress Testing the Banking Sector and Systemic Risk Analysis

International Monetary,International Monetary Fund. Monetary and Capital Markets Department
People s Republic of China Hong Kong Special Administrative Region Financial Sector Assessment Program Technical Note Stress Testing the Banking Sector and Systemic Risk Analysis Book PDF

Author : International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 108 pages
File Size : 46,5 Mb
Release : 2021-06-15
Category : Business & Economics
ISBN : 9781513573250

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People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Stress Testing the Banking Sector and Systemic Risk Analysis by International Monetary,International Monetary Fund. Monetary and Capital Markets Department Pdf

Hong Kong SAR (HKSAR) is a small and open economy, and a major international financial center with extensive linkages to Mainland China. Over the past two years, Hong Kong SAR’s economy and financial sector were adversely impacted by domestic social unrest, US-China tensions, and the global COVID-19 pandemic, resulting in an unprecedented two consecutive years of negative economic growth.

United States

International Monetary Fund
United States Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 116 pages
File Size : 49,6 Mb
Release : 2010-07-29
Category : Business & Economics
ISBN : 9781455206735

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United States by International Monetary Fund Pdf

The stress testing analysis in the United States was based on publicly available information and on models that are subject to a considerable degree of uncertainty. The stress tests illustrate important vulnerabilities in the banking sector. It highlights the importance of macrofinancial linkages, and dependencies among the largest institutions. The results illustrate the high sensitivity of Bank Holding Company’s asset quality and capital positions. Market liquidity risks appear to have declined, although financial firms remain vulnerable to funding rollover risk. The life insurance sector is relatively resilient.

Japan

International Monetary Fund. Monetary and Capital Markets Department
Japan Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 37 pages
File Size : 41,5 Mb
Release : 2024-05-13
Category : Business & Economics
ISBN : 9798400276347

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Japan by International Monetary Fund. Monetary and Capital Markets Department Pdf

This technical note reviews the functioning and effectiveness of the regulation, supervision, and systemic risk monitoring of investment funds in Japan. It focuses on the requirements that are directly relevant to maintaining financial stability, namely, valuation, segregation and safekeeping of fund assets, liquidity risk management and redemption of fund units. The note also reviews the efficacy with which the authorities: i) analyze and monitor the systemic risk arising from fund management activities in Japan; ii) apply the domestic regulatory framework pertinent to investment funds; and iii) supervise compliance with the regulatory framework. The note sets out a series of recommendations to further strengthen the domestic regulatory, supervisory, and risk monitoring frameworks.

Japan

International Monetary Fund. Monetary and Capital Markets Department
Japan Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 84 pages
File Size : 40,5 Mb
Release : 2024-05-13
Category : Business & Economics
ISBN : 9798400273384

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Japan by International Monetary Fund. Monetary and Capital Markets Department Pdf

Japan’s large and globally well-integrated financial system has remained resilient through a series of shocks, including the COVID-19 pandemic, aided by strong policy support and improved policy frameworks since the 2017 Financial Sector Assessment Program (FSAP). The financial system is, however, at a critical juncture amid an evolving macroeconomic environment. After years of deflationary concerns and ultralow interest rates, sustained inflationary pressures have emerged, leading the Bank of Japan to end its negative interest rate policy and yield curve control. Key risks to macrofinancial stability at present stem from the sizable security holdings of financial institutions under mark-to-market accounting, some banks’ notable foreign currency (FX) exposures, and signs of overheating in parts of the real estate markets. These challenges come atop several structural transformations stemming from climate change, rapid digitalization, and an aging population.

Japan

International Monetary Fund. Monetary and Capital Markets Department
Japan Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 30 pages
File Size : 41,7 Mb
Release : 2024-05-13
Category : Business & Economics
ISBN : 9798400276422

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Japan by International Monetary Fund. Monetary and Capital Markets Department Pdf

Japan has made progress in improving its crisis readiness since the 2017 FSAP, and the authorities are committed to make further enhancements that are needed. Notably, the authorities have introduced loss absorbing capacity (LAC) requirements, expanded the recovery and resolution planning (RRP) perimeter to some degree, set up the Recovery and Resolution Planning Office (RRP Office), and revised the RRP guidelines for banks and financial market infrastructures (FMIs). They have also continued with annual reviews and updates of existing RRPs, advanced the work in firm-specific crisis management groups (CMGs), contributed to the workings of international standard-setting bodies, and engaged in bilateral workshops with foreign counterparts. These improvements were built on a relatively comprehensive bank resolution regime, but hands-on experience with managing bank failures and financial crises is fading in Japan, while the financial system is evolving and getting more complex, putting a premium on accelerated and expanded crisis readiness efforts.

Stress Testing at the IMF

Mr.Tobias Adrian,Mr.James Morsink,MissLiliana B Schumacher
Stress Testing at the IMF Book PDF

Author : Mr.Tobias Adrian,Mr.James Morsink,MissLiliana B Schumacher
Publisher : International Monetary Fund
Page : 73 pages
File Size : 50,6 Mb
Release : 2020-02-05
Category : Business & Economics
ISBN : 9781513520742

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Stress Testing at the IMF by Mr.Tobias Adrian,Mr.James Morsink,MissLiliana B Schumacher Pdf

This paper explains specifics of stress testing at the IMF. After a brief section on the evolution of stress tests at the IMF, the paper presents the key steps of an IMF staff stress test. They are followed by a discussion on how IMF staff uses stress tests results for policy advice. The paper concludes by identifying remaining challenges to make stress tests more useful for the monitoring of financial stability and an overview of IMF staff work program in that direction. Stress tests help assess the resilience of financial systems in IMF member countries and underpin policy advice to preserve or restore financial stability. This assessment and advice are mainly provided through the Financial Sector Assessment Program (FSAP). IMF staff also provide technical assistance in stress testing to many its member countries. An IMF macroprudential stress test is a methodology to assess financial vulnerabilities that can trigger systemic risk and the need of systemwide mitigating measures. The definition of systemic risk as used by the IMF is relevant to understanding the role of its stress tests as tools for financial surveillance and the IMF’s current work program. IMF stress tests primarily apply to depository intermediaries, and, systemically important banks.

Japan

International Monetary Fund. Monetary and Capital Markets Department
Japan Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 57 pages
File Size : 40,6 Mb
Release : 2017-09-18
Category : Social Science
ISBN : 9781484319741

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Japan by International Monetary Fund. Monetary and Capital Markets Department Pdf

This Technical Note analyzes and quantifies the effect of aging in Japan—both at the national and regional levels—on the nature of financial intermediation. Mounting demographic headwinds constitute a major challenge for regional financial institutions in Japan. According to prefectural population projections and econometric estimates, the impact from demographic headwinds is likely to intensify significantly over the next two decades. Financial sector policies should aim to address the constraints to financial access by further promoting risk-based lending and asset-based lending. Banks should continue to be encouraged to build capacity for risk assessment to do more risk-based lending.

Japan

International Monetary Fund. Monetary and Capital Markets Department
Japan Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 46 pages
File Size : 45,5 Mb
Release : 2024-05-13
Category : Business & Economics
ISBN : 9798400275722

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Japan by International Monetary Fund. Monetary and Capital Markets Department Pdf

The Financial Sector Assessment Program (FSAP) carried out a targeted evaluation of issues relating to the effectiveness of banking supervision and regulation in Japan. The scope of the work focused on the key findings from the 2017 Basel Core Principles (BCP) Detailed Assessment Report (DAR) and the transformation of the supervisory approach by the Financial Services Agency (FSA) undertaken since the last FSAP. The overall conclusion of the 2017 DAR was that the supervisory framework was generally sound, but some key priority areas were identified as needing to be addressed. This note reviews progress made in these areas as well as examining the fundamental shift to a more risk-focused, principles-based supervisory approach than before.

Finland: Financial Sector Assessment Program

International Monetary Fund. Monetary and Capital Markets Department
Finland Financial Sector Assessment Program Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 85 pages
File Size : 47,6 Mb
Release : 2017-01-12
Category : Business & Economics
ISBN : 9781475564938

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Finland: Financial Sector Assessment Program by International Monetary Fund. Monetary and Capital Markets Department Pdf

This Technical Note discusses the results of stress testing of Finland’s banking system. Despite high capitalization levels, there are important vulnerabilities in the Finnish banking system. Near-term risks are largely tilted to the downside, stemming from both external and domestic sources. A sharper-than-expected global growth slowdown would be a drag on Finland’s export and GDP growth. Although so far high compared with the rest of the euro area banks, Finnish banks’ profitability is facing challenges from the low interest rate environment and the low economic growth. Vulnerabilities include funding risks, contagion risks, and challenges related to long-term profitability.

Republic of Korea

International Monetary Fund. Monetary and Capital Markets Department
Republic of Korea Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 44 pages
File Size : 44,5 Mb
Release : 2015-01-09
Category : Business & Economics
ISBN : 9781484310564

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Republic of Korea by International Monetary Fund. Monetary and Capital Markets Department Pdf

The financial stability assessment under the Financial Sector Assessment Program (FSAP) for Korea was carried out in close collaboration with the authorities. The assessment included top- down (TD) and bottom-up (BU) stress testing of Korea’s commercial banks and certain non-bank depository institutions (NBDIs); and evaluation of the potential contagion across banks (stemming both from funding pressures and potential defaults). The FSAP team did not have access to confidential supervisory data for the stress tests and the contagion analyses.2 The practice of withholding information in the context of an FSAP, while undesirable, is also observed in other FSAPs. As a result, the analyses were carried out by the authorities in cooperation with participating banks, with the FSAP team performing extensive methodological and estimation validations of the results. The stress testing exercise included TD and BU stress tests of banks’ solvency and liquidity. For the solvency analysis, the TD tests were based on the internal Systemic Risk Assessment Model for Macroprudential Policy (SAMP) developed by the Bank of Korea (BOK), complemented by macroeconomic projections from the BOK’s macroeconomic model. These were supplemented by BU tests, carried out by individual banks. For the liquidity analysis, the TD tests were carried out by the Financial Supervisory Service (FSS), with separate assessments of banks’ local currency and foreign exchange (FX) liquidity risks. BU tests of liquidity were performed by individual banks, and were based on a different set of assumptions on potential liquidity outflows. All stress tests were based on assumptions and parameters agreed between the authorities and the FSAP team.