Browse

You are looking at 1 - 10 of 24 items for :

  • Data Transmission Systems x
  • Financial Institutions and Services: General x
Clear All
International Monetary Fund. Statistics Dept.

Abstract

1.1 The International Monetary Fund (IMF) introduced the Data Standards Initiatives following the 1994–95 international financial crises for the purpose of promoting the transparency of economic and financial data. The Data Standards Initiatives consist of three tiers:

International Monetary Fund. Statistics Dept.

Abstract

2.1 This chapter elaborates on the data coverage, periodicity, and timeliness requirements for the additional SDDS Plus data category under the real sector. Sectoral balance sheet data for financial assets and liabilities are prescribed for dissemination to enhance understanding of financial linkages across sectors.

International Monetary Fund. Statistics Dept.

Abstract

3.1 This chapter elaborates on the data coverage, periodicity, and timeliness for the two additional Special Data Dissemination Standard Plus (SDDS Plus) data categories under the fiscal sector: general government operations (GGO) and general government total gross debt (GGD). Data for quarterly GGO provide an internationally comparable picture of the full range of government activities. Reliable and timely statistics on general government debt is a critical element in properly assessing countries’ fiscal and external sustainability.

International Monetary Fund. Statistics Dept.

Abstract

4.1 This chapter elaborates on the data coverage, periodicity, and timeliness for the three additional Special Data Dissemination Standard Plus (SDDS Plus) data categories under the financial sector: other financial corporations survey (OFCS), financial soundness indicators (FSIs), and debt securities. Covering data on other financial corporations (OFCs) is becoming increasingly important, given their growing importance in the financial sector in many advanced economies. The FSIs prescribed for dissemination can help in monitoring the health and soundness of deposit takers in an economy, while the dissemination of debt securities data is intended to provide relevant, coherent, and internationally comparable data that can shed light on financial intermediation through securities markets, by sector, thus supporting financial stability and monetary policy analysis.

International Monetary Fund. Statistics Dept.

Abstract

5.1 This chapter discusses the coverage, periodicity, and timeliness of three additional Special Data Dissemination Standard Plus (SDDS Plus) data categories under the external sector: coordinated portfolio investment survey (CPIS), coordinated direct investment survey (CDIS), and currency composition of official foreign exchange reserves (COFER). These data are important for monitoring cross-border inter-connectedness.

International Monetary Fund. External Relations Dept.

03/25: IMF Completes in Principle Fifth Review Under Mali’s PRGF Arrangement and Approves $9 Million Disbursement, February 28

Mr. Paul Louis Ceriel Hilbers, Mr. Alfredo Mario Leone, Mr. Mahinder Singh Gill, and Mr. Owen Evens

Abstract

Substantial progress has been made during recent years in forging a consensus on the importance of strengthening the architecture of the international financial system. The international community, acting through various forums, has identified a number of priorities in this work, including the need to enhance its own—and the markets’—ability to assess the strengths and vulnerabilities of financial systems, and to develop the analytical and procedural tools needed to perform this task. In particular, the importance of assessing the soundness of financial systems as part of the IMF’s surveillance work was given prominence by the Group of Twenty-Two finance ministers and central bank governors in the Report of the Working Group on Strengthening Financial Systems in October 1998. The working group recommended that financial sector surveillance be anchored to the IMF surveillance process, with expert support from the World Bank and elsewhere. This process is now well under way as part of the joint World Bank-IMF Financial Sector Assessment Program (FSAP), and the related Financial System Stability Assessments (FSSAs).1 The development and possible dissemination of so-called macroprudential indicators (MPIs)—defined broadly as indicators of the health and stability of financial systems—have been encouraged recently by both the Group of Seven (G–7) and the IMF Interim Committee.2 Such indicators will be critical in producing reliable assessments of the strengths and vulnerabilities of financial systems as part of IMF surveillance, and to enhancing disclosure of key financial information to markets.

Mr. Paul Louis Ceriel Hilbers, Mr. Alfredo Mario Leone, Mr. Mahinder Singh Gill, and Mr. Owen Evens

Abstract

The ability to monitor financial soundness presupposes the existence of indicators that can be used as a basis for analyzing the current health and stability of the financial system. These macroprudential indicators comprise both aggregated microprudential indicators of the health of individual financial institutions, and macroeconomic variables associated with financial system soundness. Aggregated microprudential indicators are primarily contemporaneous or lagging indicators of soundness;4 macroeconomic variables can signal imbalances that affect financial systems and arc, therefore, leading indicators. Financial crises usually occur when both types of indicators point to vulnerabilities, that is, when financial institutions are weak and face macroeconomic shocks.

Mr. Paul Louis Ceriel Hilbers, Mr. Alfredo Mario Leone, Mr. Mahinder Singh Gill, and Mr. Owen Evens

Abstract

This chapter reviews the theoretical and empirical literature, other than work done by the IMF,39 which would support the selection of a core set of MPIs. In general, these studies look at the features of crisis-prone systems, with a view to anticipating future crisis events. By attempting to identify leading indicators of crises, rather than contemporaneous indicators of financial soundness, much of the earlier literature did not specifically review the full range of potential MPIs. More recently, the focus of many studies has shifted toward contemporaneous indicators of financial health. No consensus has yet emerged, however, from this body of work on a set of indicators that is most relevant to assessing financial soundness, or to building effective early warning systems. The statistical significance of individual indicators is often found not to be strong, and some of the studies have produced conflicting results. This may be due to differences among crises, so that specific indicators may be more or less relevant to each case.

International Monetary Fund
The adverse impact of the crisis on Luxembourg’s growth outlook is partly mitigated by the authorities’ well-conceived fiscal policy response. The staff report for Luxembourg’s 2009 Article IV Consultation highlights economic developments and policies. It combines substantial fiscal stimulus, including subsidies aimed at stabilizing employment, with the full functioning of the automatic stabilizers. All major expenditure components of GDP are likely to be adversely affected by the financial crisis, waning confidence, and euro area recession.