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Tag Archives: Banking

Global Policy Responses to Capital Flow Volatility

By Annamaria De Crescenzio, Annamaria Kokenyne, Dennis Reinhart, and Julia Schmidt The COVID-19 health and economic crisis has once again focused attention on the fickleness of capital flows and the need to have an adequate policy toolkit to manage the risks that stem from these flows, while maximizing their benefits. A virtual workshop organized by the Bank of England, Banque de France, International Monetary Fund and the Organization for Economic Co-operation and Development (OECD)...

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COVID-19 Worsens Pre-existing Financial Vulnerabilities

By Tobias Adrian and Fabio Natalucci عربي, 中文, Español, Français, 日本語, Português, Русский Much the same way COVID-19 hits people with pre-existing health conditions more strongly, so is the pandemic-triggered economic crisis exposing and worsening financial vulnerabilities that have built up during a decade of extremely low rates and volatility. Our recently released chapters 2-4 of the  Global Financial Stability Report focus on three potential weak spots: risky segments in global credit...

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Making the Euro Area More Resilient Before the Next Recession Hits

By Shekhar Aiyar, John Bluedorn, and Romain Duval Español, Français, Português Growth in the euro area rebounded earlier this year, but it remains fragile, while risks have increased. Now is a good time for euro area economies to strengthen their ability to weather any future economic difficulties. A new IMF staff paper looks at the resilience of euro area countries and finds that they have had more frequent and severe recessions than other advanced economies over the past 20 years. An...

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Countries in the IMF Financial Spotlight in 2019

By IMFBlog In 2019, the IMF will complete 14 assessments under the Financial Sector Assessment Program (FSAP). Eight of this year’s assessments are mandatory: Australia, Austria, Canada, France, Italy, Poland, Singapore, and Switzerland. The other six are voluntary: Algeria, Bahamas, Kuwait, FYR Macedonia, Malta, and Thailand. The FSAP is an in-depth analysis of a country’s financial sector. It serves as the principal tool for assessing countries’ financial stability. The IMF conducts about...

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Five Actions to Strengthen the Euro Area Banking Union

By Atilla Arda, Daniel Hardy, and Maike B. Luedersen December 14, 2018 View of skyscrapers in the banking district in Frankfurt am Main, Germany: Progress has been made, but more needs to be done to strengthen the euro area’s banking union (photo: imageBROKER/Stefan Ziese/Newscom) Dealing with problem banks in a prompt, efficient, and even-handed manner is essential for the European banking union. Much progress has been made, but more needs to be done to strengthen both institutions...

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Sounding the Alarm on Leveraged Lending

By Tobias Adrian, Fabio Natalucci, and Thomas Piontek November 15, 2018 A drilling crew member raises a pipe on an oil rig in Texas: Energy is among the industries in which leveraged lending is most prevalent, along with telecommunications, health care, and technology (photo: Nick Oxford/Reuters/Newscom) We warned in the most recent Global Financial Stability Report that speculative excesses in some financial markets may be approaching a threatening level. For evidence, look no further...

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Chart of the Week: Financial Reform Report Card

By Tobias Adrian, Dirk Jan Grolleman, and Anastasiia Morozova October 29, 2018 Countries have improved banking sector regulation considerably in the past decade, but areas of weakness remain (Steve Gottlieb/Newscom) The many 10th anniversary retrospectives of the global financial crisis mostly agree: the financial system is safer today than it was when US investment bank Lehman Brothers collapsed in 2008. In some respects, the IMF’s recent Global Financial Stability Report supports...

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Chart of the Week: Words Count for Central Bank Communications in Latin America

By Juan Yepez  October 15, 2018  Effective central bank communications are essential in guiding market expectations (photo: lionvision/iStock) When it comes to central banks in Latin America, sometimes words can speak louder than actions. This is because the public and investors rely on central bank communications to make economic and financial decisions. So, clear and consistent communications from a central bank about policy decisions and the economic outlook are essential to guide...

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The Wealth of Nations: Governments Can Better Manage What They Own and Owe

By Vitor Gaspar, Jason Harris, and Alexander Tieman October 10, 2018 A firefighter in Auckland, New Zealand: when governments know what they own they can put their assets to better use and can earn about 3 percent of GDP more in revenues to spend on citizens’ well being (Photo: Rafael Ben-Ari/Newscom) What is the state of your personal finances? You probably think first about your debts: your mortgage, your credit card balance, and your student loans. But you probably also think about...

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