Philippines Financial Sector Assessment Program Technical Note On Risk Assessment Of Banks Non Financial Corporates And Macro Financial Linkages

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Philippines: Financial Sector Assessment Program-Technical Note on Risk Assessment of Banks, Non-Financial Corporates, and Macro-Financial Linkages

International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Philippines Financial Sector Assessment Program Technical Note on Risk Assessment of Banks Non Financial Corporates and Macro Financial Linkages Book PDF

Author : International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 92 pages
File Size : 50,7 Mb
Release : 2022-06-07
Category : Business & Economics
ISBN : 9798400210181

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Philippines: Financial Sector Assessment Program-Technical Note on Risk Assessment of Banks, Non-Financial Corporates, and Macro-Financial Linkages by International Monetary,International Monetary Fund. Monetary and Capital Markets Department Pdf

The Philippines is a dynamic economy with a relatively smaller financial system than other Asian emerging market economies, dominated by banks. The total assets of the system amount to 126 percent of GDP. However, bank credit is just over 50 percent of GDP and mostly goes to nonfinancial corporates (NFCs). Banks are also tightly interlinked with NFCs through conglomerate ownerships. Access to finance for individuals is significantly lower than comparator systems, with only a third of adults having formal accounts. Non-bank financial institutions and capital markets—especially bond markets—are substantially less developed than banks. The Fintech ecosystem is nascent.

Philippines: Financial Sector Assessment Program-Technical Note on Macroprudential Policy Framework and Tools

International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Philippines Financial Sector Assessment Program Technical Note on Macroprudential Policy Framework and Tools Book PDF

Author : International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 40 pages
File Size : 54,7 Mb
Release : 2022-06-07
Category : Business & Economics
ISBN : 9798400210679

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Philippines: Financial Sector Assessment Program-Technical Note on Macroprudential Policy Framework and Tools by International Monetary,International Monetary Fund. Monetary and Capital Markets Department Pdf

The Bangko Sentral Ng Pilipinas (BSP), together with the other financial sector regulators and the Department of Finance (DoF), made significant progress in developing a framework for macroprudential supervision. The BSP plays a central role as the bank and payment system supervisor, as well as macroprudential authority with with its financial stability mandate obtained in 2019, and the chair of inter-agency coordination mechanisms (Financial Stability Coordination Council, FSCC). The FSCC was established in 2011 as a voluntary interagency body (without decision-making powers) to coordinate macroprudential policies and crisis management and include the BSP, Securities Exchange Commission (SEC), Insurance Commission (IC), Philippine Deposit Insurance Commission (PDIC) and the DoF. Within the BSP, a financial stability “unit” (OSRM, established in 2017) works on macroprudential analysis and policy preparation. BSP’s Financial Stability Policy Committee (FSPC), a Monetary Board (MB) subcommittee established in 2020, decides on macroprudential issues, while policy decision making on monetary policy and financial sector supervision takes place in the MB.

Romania

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

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 37 pages
File Size : 47,5 Mb
Release : 2018-06-08
Category : Business & Economics
ISBN : 9781484361399

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

The National Bank of Romania (NBR) has a long experience in implementing macroprudential policy measures and as a result, a relatively sophisticated systemic risk monitoring framework. The NBR monitors several indicators to assess the build-up of systemic risk, many of which are derived from the nation-wide credit register and related data sources, and constructs summary indicators to facilitate overall risk assessment. The NBR also has various economic models to assess macro-financial developments and the effects of various shocks, and to assess policy actions. The NBR also subjects banks to regular solvency and liquidity stress tests. Nevertheless, data and information gaps remain, for instance, due to extensive NPL exposures being sold to asset management companies, which do not have to report to the credit registry.

Thailand

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

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 76 pages
File Size : 48,5 Mb
Release : 2019-10-24
Category : Business & Economics
ISBN : 9781513517544

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

This technical note on the risk assessment for Thailand discusses that the Thai banking system shows a substantial resilience to severe shocks. The solvency stress tests indicate that the largest banks can withstand an adverse scenario broadly as severe as the Asian financial crisis. While three banks would deplete their capital conservation buffer (CCB) under the adverse scenario, recapitalization needs would be minimal. A battery of complementary sensitivity stress tests, which allows to cover in more detail certain risk factors, also confirmed the overall picture of a resilient baking system: no particular vulnerability emerged from the analysis of the bond portfolio to an increase in government and corporate spreads, exposure to foreign exchange risk, and concentration risk in the loan portfolio, with the possible exception of one entity with a particular concentration on single-name exposures. The liquidity stress test on investment funds (IFs) showed that they would be able to withstand a severe redemption shock and its impact on the banks and the bond market would be limited.

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 : 46,7 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.

Ireland

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

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 30 pages
File Size : 55,6 Mb
Release : 2016-09-29
Category : Business & Economics
ISBN : 9781475542240

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

This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for Ireland in the area of the macroprudential policy framework. The current institutional arrangement in Ireland is appropriate for effective macroprudential policy and in line with IMF guidance. The Central Bank of Ireland’s analysis of systemic vulnerabilities is sophisticated and timely. The central bank has been introducing a range of macroprudential instruments to contain a buildup of systemic risk in the financial system. Ireland’s boom-bust experience amply demonstrates the need for forward-looking action to head off incipient financial problems.

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 : 50,9 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 : 49,5 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.

Mexico

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

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 112 pages
File Size : 52,6 Mb
Release : 2022-12-08
Category : Business & Economics
ISBN : 9798400226359

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

Mexico has a resilient financial system but a low level of financial inclusion. The financial system is smaller than in peer countries and is dominated by commercial banks that have had large capital and liquidity buffers for years. Despite these buffers and the high profitability in the banking sector, credit growth has been low due to both supply and demand factors, with banks targeting mainly the prime segments of the economy. The COVID-19 pandemic has had a limited impact on the financial system, reflecting a mix of resumption in mobility and support from global and domestic policies.

Ireland

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

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 163 pages
File Size : 47,6 Mb
Release : 2022-11-09
Category : Business & Economics
ISBN : 9798400224393

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

The FSAP took place against the background of a fast-evolving financial sector in Ireland and heightened uncertainty in the global economy. The Irish financial landscape has undergone significant changes since the global financial crisis with increasing divergence between an innovative and fast-growing international finance sector and the retail banking sector that has been consolidating and faces post-GFC operating restrictions and increasing competition from non-bank players. In the meantime, both the global pandemic and Brexit have left uneven marks across the economy, while there are risks from the unwinding of public support that has softened COVID-19 shock’s impact on the economy. Going forward, various ongoing and emerging risks, such as persistent inflationary pressures, fueled by supply bottlenecks, and the war in Ukraine, may impede recovery, and magnify vulnerabilities to downside shocks.

Canada

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

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 65 pages
File Size : 51,9 Mb
Release : 2014-03-07
Category : Business & Economics
ISBN : 9781484329849

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

This report underlies Canada’s Financial Sector Assessment Program (FSAP) in the areas of crisis management and blank resolution. The provincial deposit insurance systems (DIS) and resolution frameworks are highly heterogeneous and the FSAP’s analysis suggests that the preparedness to overcome financial stress should be enhanced. The IMF report discusses that the federal legal and institutional arrangements for resolving individual financial institutions are robust. It suggests that clear mandates should be assigned to: (1) monitor systematic risk to facilitate macroprudential oversight; and (2) carry out system wide crisis preparedness.

Romania

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

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 63 pages
File Size : 41,9 Mb
Release : 2018-06-08
Category : Business & Economics
ISBN : 9781484361351

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

The Financial Sector Assessment Program (FSAP) took place against a backdrop of improved resilience and recovery after the crisis. Romanian banks enjoy one of the highest capitalization ratios in Europe, significantly strengthened since the crisis. NPLs have declined to 6.4 percent as of December 2017 from their peak of 21.5 percent following the crisis. Banks’ reliance on parent funding has also reduced significantly, and the share of foreign currency-denominated loans has declined. The banking sector’s profitability is strong and liquidity appears ample.

Romania

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

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 12 pages
File Size : 49,5 Mb
Release : 2018-06-08
Category : Business & Economics
ISBN : 9781484360699

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

This Technical Note analyzes the macro-financial interlinkages, sectoral dependencies, and potential balance sheet vulnerabilities for all resident sectors in Romania. The financial sector size and interconnectedness have been increasing significantly. The overall amount of intra-financial sector exposures grew from five percent of GDP in 2008 to approximately seven percent of GDP in 2016. The banking system is at the center of intra-financial sector balance sheet connections, as an overall net borrower that channels funds to other domestic sectors. The funding of bank liabilities by domestic financial institutions has been rising and stood at close to 10 percent of banks’ nonequity liabilities in 2016. Moreover, banks are also exposed on the credit side to nonbank financial institutions, in particular to other financial institutions.

Canada

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

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 101 pages
File Size : 54,5 Mb
Release : 2014-03-07
Category : Business & Economics
ISBN : 9781484330883

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

This paper examines the stress testing module of the 2013 Financial Sector Assessment Program (FSAP) update for Canada. The IMF report highlights the three major segments of the domestic financial covered during the stress tests. The bank solvency stress tests suggest that while all banks would fall below the Canadian “all-in” Common Equity Tier 1 (CET1) supervisory threshold during severe economic distress, the resulting recapitalization needs are manageable. This IMF report provides recommendations for the Canadian authorities, derived from this joint exercise, to enhance the individual components of their stress testing framework.

Australia

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

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 66 pages
File Size : 55,9 Mb
Release : 2019-02-14
Category : Business & Economics
ISBN : 9781484399200

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

This technical note describes the financial stability analysis undertaken as part of the Financial Sector Assessment Program that primarily focuses on assessing the resilience of the banking system. Bank solvency appears relatively resilient to stress, although liquidity stress tests reveal some vulnerabilities given continued reliance on wholesale funding. The systemic risk analysis reveals a low degree of interconnectedness between the largest Australian banks and their global counterparts. However, the cross-border and interbank exposures data corroborates the systemic importance of the four largest banks and the view that the Australian banks are particularly vulnerable to external funding shocks. Cross-border analysis using country-level and individual bank-level supervisory data corroborates the view that the Australian banks are particularly vulnerable to external funding shocks given their dependence on wholesale funding from overseas. Policy recommendations made in the note include that additional investment in data and analytical tools would strengthen financial supervision and systemic risk oversight.