Safeguarding Financial Stability

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Handbook of Safeguarding Global Financial Stability

Gerard Caprio,Philippe Bacchetta
Handbook of Safeguarding Global Financial Stability Book PDF

Author : Gerard Caprio,Philippe Bacchetta
Publisher : Academic Press
Page : 547 pages
File Size : 42,6 Mb
Release : 2012-11-27
Category : Business & Economics
ISBN : 9780123978752

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Handbook of Safeguarding Global Financial Stability by Gerard Caprio,Philippe Bacchetta Pdf

Political and social forces exert pressure on our globalized economy in many forms, from formal and informal policies to financial theories and technical models. Our efforts to shape and direct these forces to preserve financial stability reveal much about the ways we perceive the financial economy. The Handbook of Safeguarding Global Financial Stability examines our political economy, particularly the ways in which these forces inhabit our institutions, strategies, and tactics. As economies expand and contract, these forces also determine the ways we supervise and regulate. This high-level examination of the global political economy includes articles about specific countries, crises, and international systems as well as broad articles about major concepts and trends.. Substantial articles by top scholars sets this volume apart from other information sources Diverse international perspectives result in new opportunities for analysis and research Rapidly developing subjects will interest readers well into the future

Safeguarding Financial Stability

Mr.Garry J. Schinasi
Safeguarding Financial Stability Book PDF

Author : Mr.Garry J. Schinasi
Publisher : International Monetary Fund
Page : 332 pages
File Size : 55,6 Mb
Release : 2005-12-12
Category : Business & Economics
ISBN : 1589064402

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Safeguarding Financial Stability by Mr.Garry J. Schinasi Pdf

How is finance related to economic processes, and why should it be viewed as a public good requiring policy action? This book provides an answer. The book develops a practical framework for safeguarding financial stability, which encompasses both prevention and resolution of problems. It also examines on-going and future challenges to financial stability posed by globalization, a growing reliance on derivatives and their markets, and the capital market activities of insurers and reinsurers.

Toward a Framework for Safeguarding Financial Stability

Jan Kakes
Toward a Framework for Safeguarding Financial Stability Book PDF

Author : Jan Kakes
Publisher : Unknown
Page : 48 pages
File Size : 44,5 Mb
Release : 2011
Category : Electronic
ISBN : OCLC:1290789499

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Toward a Framework for Safeguarding Financial Stability by Jan Kakes Pdf

This paper examines the emergence of financial stability as a key policy objective. It discusses the underlying trends in the financial system, as well as the role of finance in relation to money, the real economy, and public policy. Financial stability is defined in terms of its ability to help the economic system allocate resources, manage risks, and absorb shocks. Moreover, financial stability is considered a continuum, changeable over time and consistent with multiple combinations of its constituent elements. On the basis of these concepts, a framework is presented that comprises an encompassing analysis and assessment of financial stability, and maps out broad policy implications.

Toward a Framework for Safeguarding Financial Stability

Aerdt C. F. J. Houben,Jan Kakes,Garry J. Schinasi
Toward a Framework for Safeguarding Financial Stability Book PDF

Author : Aerdt C. F. J. Houben,Jan Kakes,Garry J. Schinasi
Publisher : International Monetary Fund
Page : 54 pages
File Size : 53,5 Mb
Release : 2004-06
Category : Business & Economics
ISBN : UCSD:31822032307720

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Toward a Framework for Safeguarding Financial Stability by Aerdt C. F. J. Houben,Jan Kakes,Garry J. Schinasi Pdf

This paper examines the emergence of financial stability as a key policy objective. It discusses the underlying trends in the financial system, as well as the role of finance in relation to money, the real economy, and public policy. Financial stability is defined in terms of its ability to help the economic system allocate resources, manage risks, and absorb shocks. Moreover, financial stability is considered a continuum, changeable over time and consistent with multiple combinations of its constituent elements. On the basis of these concepts, a framework is presented that comprises an encompassing analysis and assessment of financial stability, and maps out broad policy implications.

Safeguarding Banks and Containing Property Booms

Mr.Ashvin Ahuja,Mr.Malhar Nabar
Safeguarding Banks and Containing Property Booms Book PDF

Author : Mr.Ashvin Ahuja,Mr.Malhar Nabar
Publisher : International Monetary Fund
Page : 27 pages
File Size : 41,9 Mb
Release : 2011-12-01
Category : Business & Economics
ISBN : 9781463927189

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Safeguarding Banks and Containing Property Booms by Mr.Ashvin Ahuja,Mr.Malhar Nabar Pdf

We assess the effectiveness of macroprudential policies against a number of different indicators of property sector activity and financial stability. At the cross-country level the use of LTV caps decelerates property price growth. Both LTV and DTI caps slow property lending growth. LTV caps also affect a broader range of financial stability indicators in economies with pegged exchange rates and currency boards. For Hong Kong SAR, LTV policy tends to be forward looking, with caps lowered to counter downward movements in mortgage rates, and higher growth in mortgage loan and volumes of transactions. The reduction in caps appears to respond to small and medium size flat price appreciation, and contributes to a decline in high-end volume growth after a year and total transactions volume growth after 11⁄2?2 years. Price growth responds favorably after 2 years. The evidence suggests LTV tightening could affect property activity through the expectations channel rather than through the credit channel.

Preserving Financial Stability

Mr.Garry J. Schinasi
Preserving Financial Stability Book PDF

Author : Mr.Garry J. Schinasi
Publisher : International Monetary Fund
Page : 32 pages
File Size : 46,5 Mb
Release : 2006-01-09
Category : Business & Economics
ISBN : 1589063562

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Preserving Financial Stability by Mr.Garry J. Schinasi Pdf

Spurred by advances in information and computer technologies, financial liberalization and innovation took off inthe late 1970s. Although the changes in financial markets have been beneficial overall, our understanding of the new risks to financial stability lags behind, as demonstrated by the financial crises of the past couple of decades. The study of international financial stability - a public good - is still in its infancy. This pamphlet, aimed at stimulating further debate on the subject, proposes a definition of financial stability and a broad framework for safeguarding it without inhibiting its dynamic development or limiting its benefits.

Responsibility of Central Banks for Stability in Financial Markets

Mr.Garry J. Schinasi
Responsibility of Central Banks for Stability in Financial Markets Book PDF

Author : Mr.Garry J. Schinasi
Publisher : International Monetary Fund
Page : 19 pages
File Size : 45,5 Mb
Release : 2003-06-01
Category : Business & Economics
ISBN : 9781451854404

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Responsibility of Central Banks for Stability in Financial Markets by Mr.Garry J. Schinasi Pdf

What is the role of central banks in ensuring financial stability? This paper addresses this controversial subject, in part by drawing on the experiences in Europe, Japan, and the United States, and by examining four questions. What is meant by financial stability? Do central banks have a natural role in ensuring financial stability? What does a central bank need to execute this role effectively? How far have central banks actually gone in safeguarding financial stability? The experience drawn on in the paper suggest that central banks: have a natural role to play; at times may require supervisory information to execute this natural role; and have incurred risks to their balance sheets to ensure financial stability.

Global Financial Stability Report April 2023

International Monetary Fund. Monetary and Capital Markets Department
Global Financial Stability Report April 2023 Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 126 pages
File Size : 46,8 Mb
Release : 2023-04-11
Category : Business & Economics
ISBN : 9798400233241

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Global Financial Stability Report April 2023 by International Monetary Fund. Monetary and Capital Markets Department Pdf

The baseline forecast is for growth to fall from 3.4 percent in 2022 to 2.8 percent in 2023, before settling at 3.0 percent in 2024. Advanced economies are expected to see an especially pronounced growth slowdown, from 2.7 percent in 2022 to 1.3 percent in 2023. In a plausible alternative scenario with further financial sector stress, global growth declines to about 2.5 percent in 2023 with advanced economy growth falling below 1 percent. Global headline inflation in the baseline is set to fall from 8.7 percent in 2022 to 7.0 percent in 2023 on the back of lower commodity prices but underlying (core) inflation is likely to decline more slowly. Inflation’s return to target is unlikely before 2025 in most cases.

Safeguarding the Euro in Times of Crisis

Anonim
Safeguarding the Euro in Times of Crisis Book PDF

Author : Anonim
Publisher : Unknown
Page : 419 pages
File Size : 53,7 Mb
Release : 2019
Category : Electronic
ISBN : 9295085337

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Safeguarding the Euro in Times of Crisis by Anonim Pdf

This book tells the inside story of those who played key roles in setting up the organisations and combatting the crisis. In exclusive interviews, global financial leaders and ESM insiders provide a rich stock of perspectives and anecdotes that bring to life the urgency of the crisis as well as the innovative solutions found to resolve it. The European Stability Mechanism and its temporary predecessor the EFSF provided billions of euros in loans to five hard-hit euro area countries during the European financial and sovereign debt crisis of the early 2000s, helping to safeguard the stability of those countries and the euro area as a whole. Initially, the crisis-torn euro area was ill-equipped institutionally, but the rapid establishment of the firewalls, the assistance programmes, deep‐seated country reforms, the strengthening of European institutions, and extraordinary European Central Bank measures shielded Europe from a euro area break-up. With the EFSF/ESM set-up, its managers aspired to create a new, more entrepreneurial international financial institution, one that is agile enough to respond quickly to new challenges, while still ensuring the strict governance befitting an organisation pursuing a public mission. The euro area has emerged from near disaster in more robust shape. As Europe strives to further strengthen its architecture in preparation for any possible future crises, it is important to reflect upon how the euro area reinvigorated its fortunes and draw the relevant lessons for future crisis management in Europe and beyond.

Financial Liberalization and Economic Development in Korea, 1980-2020

Anonim
Financial Liberalization and Economic Development in Korea 1980 2020 Book PDF

Author : Anonim
Publisher : BRILL
Page : 336 pages
File Size : 51,6 Mb
Release : 2022-03-07
Category : Business & Economics
ISBN : 9781684176304

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Financial Liberalization and Economic Development in Korea, 1980-2020 by Anonim Pdf

Since the early 1980s, Korea’s financial development has been a tale of liberalization and opening. After the 1997 financial crisis, great strides were made in building a market-oriented financial system through sweeping reforms for deregulation and the opening of financial markets. However, the new system failed to steer the country away from a credit card boom and bust in 2003, a liquidity crisis in 2008, and a run on its savings banks in 2011, and has been severely tested again by the ongoing COVID-19 pandemic crisis. Financial liberalization, clearly, has been no panacea. This study analyzes the deepening of and structural changes in Korea’s financial system since the early 1980s and presents the empirical results of the effects of financial development on economic growth, stability, and the distribution of income. It finds that, contrary to conventional wisdom, financial liberalization has contributed little to fostering the growth and stability of the Korean economy and has exacerbated income distribution problems. Are there any merits in financial liberalization? The authors answer this query through empirical examinations of the theories of finance and growth. They point to a clear need to further improve the efficiency, soundness, and stability of Korean financial institutions and markets.

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 : 85 pages
File Size : 40,5 Mb
Release : 2019-06-24
Category : Business & Economics
ISBN : 9781498321112

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

This Financial System Stability Assessment paper discusses that Canada has enjoyed favorable macroeconomic outcomes over the past decades, and its vibrant financial system continues to grow robustly. However, macrofinancial vulnerabilities—notably, elevated household debt and housing market imbalances—remain substantial, posing financial stability concerns. Various parts of the financial system are directly exposed to the housing market and/or linked through housing finance. The financial system would be able to manage severe macrofinancial shocks. Major deposit-taking institutions would remain resilient, but mortgage insurers would need additional capital in a severe adverse scenario. Housing finance is broadly resilient, notwithstanding some weaknesses in the small non-prime mortgage lending segment. Although banks’ overall capital buffers are adequate, additional required capital for mortgage exposures, along with measures to increase risk-based differentiation in mortgage pricing, would be desirable. This would help ensure adequate through-the cycle buffers, improve mortgage risk-pricing, and limit procyclical effects induced by housing market corrections.

EU Framework for Safeguarding Financial Stability

María Nieto,Garry J. Schinasi
EU Framework for Safeguarding Financial Stability Book PDF

Author : María Nieto,Garry J. Schinasi
Publisher : International Monetary Fund
Page : 30 pages
File Size : 42,8 Mb
Release : 2007-11
Category : Business & Economics
ISBN : UCSD:31822034558080

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EU Framework for Safeguarding Financial Stability by María Nieto,Garry J. Schinasi Pdf

European finance is becoming increasingly cross-border, while the European architecture for safeguarding financial stability - including decision-making processes for providing financial-stability public goods - have remained decentralized with some explicit mechanisms for coordination across countries. Policy makers are aware of the limitations of the existing institutional setting, but opinions on how to proceed, including on burden sharing, are lining up along national and regional political lines with less attention paid to European needs. This paper applies the 'economics of alliances' to examine these European policy challenges. The paper establishes benchmarks for assessing the ability of Europe's existing institutional architecture to efficiently allocate resources to safeguard the EU financial system against systemic threats to stability, such as the insolvency of a pan European bank.

Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

El Bachir Boukherouaa,Mr. Ghiath Shabsigh,Khaled AlAjmi,Jose Deodoro,Aquiles Farias,Ebru S Iskender,Mr. Alin T Mirestean,Rangachary Ravikumar
Powering the Digital Economy Opportunities and Risks of Artificial Intelligence in Finance Book PDF

Author : El Bachir Boukherouaa,Mr. Ghiath Shabsigh,Khaled AlAjmi,Jose Deodoro,Aquiles Farias,Ebru S Iskender,Mr. Alin T Mirestean,Rangachary Ravikumar
Publisher : International Monetary Fund
Page : 35 pages
File Size : 49,6 Mb
Release : 2021-10-22
Category : Business & Economics
ISBN : 9781589063952

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Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance by El Bachir Boukherouaa,Mr. Ghiath Shabsigh,Khaled AlAjmi,Jose Deodoro,Aquiles Farias,Ebru S Iskender,Mr. Alin T Mirestean,Rangachary Ravikumar Pdf

This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

Macroprudential Policy Framework

Damodaran Krishnamurti,Yejin Carol Lee
Macroprudential Policy Framework Book PDF

Author : Damodaran Krishnamurti,Yejin Carol Lee
Publisher : World Bank Publications
Page : 75 pages
File Size : 50,8 Mb
Release : 2014-05-14
Category : Business & Economics
ISBN : 9781464800856

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Macroprudential Policy Framework by Damodaran Krishnamurti,Yejin Carol Lee Pdf

This publication aims to provide policy makers in emerging market and developing economies with inputs to better understand, envision, and implement a macroprudential policy framework. It presents the basic concepts, issues, and challenges, and encourages them to ask the right questions to design an optimal institutional framework,

Sweden

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

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 61 pages
File Size : 43,5 Mb
Release : 2016-11-17
Category : Business & Economics
ISBN : 9781475554618

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

This paper discusses the findings of the Financial System Stability Assessment for Sweden. The Swedish financial system is large and highly interconnected, putting a premium on the accompanying policy framework. Relative to the size of the domestic economy, the financial system is among Europe’s largest. It features complex domestic and international linkages, reflecting Sweden’s role as a regional financial hub. However, the macrofinancial risks have grown since 2011, for example the rising share of highly indebted households. Stress tests also suggest that banks and nonbanks are largely resilient to solvency shocks, but concerns persist about the ability of bank models to capture unexpected losses.