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Business and Economics > Banks and Banking

You are looking at 1 - 10 of 589 items for :

  • Type: Journal Issue x
  • Financial Markets and the Macroeconomy x
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Cover Selected Issues Papers
Financial Conditions and Their Growth Implications for Qatar
Dorothy Nampewo
This paper develops a Financial Conditions Index (FCI) for Qatar and uses the Growth-at-Risk (GaR) framework to examine the impact of financial conditions on Qatar’s non-hydrocarbon growth. The analysis shows that the FCI is an important leading indicator of Qatar’s non-hydrocarbon growth, highlighting its predictive potential for future economic performance. The GaR framework suggests that overall, the current downside risks to Qatar’s baseline non-hydrocarbon growth projections are relatively mild.
Keywords:
Financial conditions; non-hydrocarbon growth; Qatar; GaR framework; growth projection; Qatar's baseline; copyright page; financial conditions indicator; Financial conditions index; Oil prices; Central bank policy rate; Deposit rates; Post-clearance customs audit; Global
Cover IMF Staff Country Reports
Indonesia: Financial Sector Assessment Program-Technical Note on Macroprudential Policy
International Monetary Fund. Monetary and Capital Markets Department
The 2017 FSAP focused its recommendations around strengthening and clarifying the mandates of the authorities. The FSAP noted that the multiple objectives of the organizations, together with the fact that there was no defined framework for cooperation and the separate control over prudential tools, created the risk that policies implemented by both agencies might come into conflict or have undesirable consequences and blur accountability lines.
Keywords:
IMF-World Bank Financial Sector Assessment Program; Macroprudential liquidity incentive; Indonesia FSAP; Macroprudential intermediation ratio; financing ratio; Financial sector stability; Macroprudential policy; Systemic risk; Stress testing; Global
Cover Selected Issues Papers
ECB Monetary Policy Passthrough to Bank Interest Rates During Tightening: Republic of Kosovo
Ezgi O. Ozturk
This paper analyzes the transmission of ECB policy rate changes to bank interest rates in Kosovo during the 2022-23 tightening cycle. While both lending and deposit rates increased, the passthrough was more limited compared to the euro area and regional peers. Three key factors explain this limited transmission: Kosovo's stage of financial development, high banking sector liquidity, and significant bank concentration.
Keywords:
Monetary policy transmission; interest rates; banking sector; euroization; financial development; Kosovo; ECB monetary policy Passthrough; ECB policy rate change; ECB policy rate Passthrough; ECB Policy rate pass-through; Central bank policy rate; Deposit rates; Financial sector development; Inflation; Financial inclusion; Europe
Cover Global Financial Stability Report, October 2024
Global Financial Stability Report, October 2024
Steadying the Course: Uncertainty, Artificial Intelligence, and Financial Stability
International Monetary Fund. Monetary and Capital Markets Department

Abstract

Chapter 1 shows that although near-term financial stability risks have remained contained, mounting vulnerabilities could worsen future downside risks by amplifying shocks, which have become more probable because of the widening disconnect between elevated economic uncertainty and low financial volatility. Chapter 2 presents evidence that high macroeconomic uncertainty can threaten macrofinancial stability by exacerbating downside tail risks to markets, credit supply, and GDP growth. These relationships are stronger when debt vulnerabilities are elevated, or financial market volatility is low (during episodes of a macro-market disconnect). Chapter 3 assesses recent developments in AI and Generative AI and their implications for capital markets. It presents new analytical work and results from a global outreach to market participants and regulators, delineates potential benefits and risks that may arise from the widespread adoption of these new technologies, and makes suggestions for policy responses.

Keywords:
financial stability; vulnerabilities; uncertainty; risk; artificial intelligence; capital markets; tail risk; uncertainty index; monetary policy; mortgage rate; market liquidity risk; fiscal policy uncertainty; Emerging and frontier financial markets; Financial sector stability; Sovereign bonds; Credit; Global; Middle East; Europe; Central and Eastern Europe; South America
Cover IMF Staff Country Reports
Saudi Arabia: Financial Sector Assessment Program-Financial System Stability Assessment
International Monetary Fund. Monetary and Capital Markets Department
This paper highlights Saudi Arabia’s Financial System Stability Assessment as part of Financial Sector Assessment Program (FSAP). The FSAP took place against the backdrop of a robust economy driven by an ambitious state-led transformation agenda to accelerate Saudi Arabia’s economic diversification (Vision 2030). The Kingdom’s sovereign wealth fund plays a key role in implementing and funding the economic transformation. At present, financial sector risks from the rapid economic transformation appear contained. Banks are well-capitalized, profitable and appear resilient to severe macroeconomic shocks. Banks’ capacity to manage liquidity stress scenarios is generally good, although funding concentration is sizable. The authorities have made commendable efforts to mitigate risks from the rapidly growing credit and real estate market, but significant data gaps create challenges for systemic risk monitoring. The time is right to strengthen systemic risk monitoring and the legal, institutional, and operational frameworks in support of financial stability going forward.
Keywords:
B. bank stress tests; liquidity stress scenario; liquidation framework; coverage ratio; mission chief World Bank; World Bank FSAP team member; Financial sector stability; Anti-money laundering and combating the financing of terrorism (AML/CFT); Macroprudential policy; Commercial banks; Global
Cover Technical Assistance Reports
Seychelles: Technical Assistance Report-Central Bank Strategic Planning
International Monetary Fund. Monetary and Capital Markets Department
This report provides an overview of the assistance provided by the IMF to the Central Bank of the Seychelles in reviewing and updating its strategic plan, in line with international best practices for central banks.
Keywords:
CBS management team; CBS strategy; MCM Department; mission from the Monetary and Capital Markets; CBS risk appetite; Budget planning and preparation; Central bank balance sheet; Central Bank digital currencies; Financial inclusion; Development strategy
Cover IMF Staff Country Reports
Indonesia: Financial Sector Assessment Program-Financial System Stability Assessment
International Monetary Fund. Monetary and Capital Markets Department
This paper presents financial sector stability assessment as part of Financial Sector Assessment Program in Indonesia. The financial system appears to be broadly resilient, has strong capital and liquidity buffers but remains relatively small and dominated by banks, especially few state-owned banks. Household and corporate indebtedness and public debt are low. The increase in banks’ holdings of government bonds and loans to state-owned enterprises has tightened the sovereign-bank nexus, but banks appear to be resilient. Credit risk tends to be higher in pandemic-hit industries and highly leveraged corporations. The mission recommends strengthening loan quality recognition by banks and risk assessment of small banks. Corporate and banks foreign exchange (FX) liquidity analysis could be integrated to identify systemic FX risks which can inform the setting of micro- and macroprudential policy instruments. Strengthening independence of the supervisor and providing clarity on primary supervisory objectives is important. Indonesia’s resolution framework should be more closely aligned to the FSB Key Attributes, including regarding the bail-in tool, and should cover financial conglomerates in the framework. Authorities should not delay resolution of weak banks by providing liquidity assistance from the deposit insurance fund.
Keywords:
banks FX liquidity analysis; systemwide FX liquidity stress test; coverage ratio; bank FX liquidity stress test; banking sector; Financial sector stability; Anti-money laundering and combating the financing of terrorism (AML/CFT); Macroprudential policy; Commercial banks; Financial Sector Assessment Program; Global
Cover IMF Staff Country Reports
Panama: Financial Sector Assessment Program - Technical Note on Macroprudential Framework and Policies
International Monetary Fund. Monetary and Capital Markets Department
This paper presents a technical note on Macroprudential Framework and Policies in Panama. The institutional framework for macroprudential policy in Panama broadly meets the principles of good design, in particular for the banking sector, but needs to be further operationalized. The quality of design and implementation of macroprudential policies will ultimately depend on a number of factors, including the quality of available data. The macroprudential framework could be further improved in several areas. The report recommends to expand the macroprudential policy toolkit with tools to contain excessive leverage and systemic risks in the corporate sector. The Superintendency of Banks of Panama has made important progress on its public communication on macroprudential policy and has produced an internal draft macroprudential policy strategy document. The SBP is encouraged to continue improving the draft macroprudential policy strategy document and publish it within the planned timeframe, by end-2023. An information and data sharing mechanism has been established across supervisory agencies.
Keywords:
IMF-World Bank Financial Sector Assessment Program; Superintendencia de Bancos de Panamá; Superintendencia de Seguros y Reasseguros de Panamá; Unidad de Análisis Financiero de Panamá; Macroprudential Policy committee; Macroprudential policy; Financial sector stability; Loans; Countercyclical capital buffers; Macroprudential policy instruments; Central America; Global
Cover IMF Staff Country Reports
Panama: Financial Sector Assessment Program - Detailed Assessment of Observance and Basel Core Principles for Effective Banking Supervision
International Monetary Fund. Monetary and Capital Markets Department
This paper discusses Panama’s Basel Core Principles for Effective Banking Supervision report. The Superintendency of Banks of Panama (SBP) has made significant progress in updating its regulatory and supervisory framework. The liquidity regulations are generally comprehensive; however, the Liquidity Coverage Ratio is calculated and reported on a Level 1 basis and not L2 or group-wide. Off-site analysis occurs on a frequent basis using a comprehensive suite of indicators and data points. The SBP has implemented a framework for credit concentration risk and large exposure limits, but the framework does not apply to all material sources of concentration risk. Regulations issued by the SBP set out a comprehensive set of requirements for a bank’s Board and senior management to be responsible for preparing financial statements that adhere to international accounting standards. Banks must identify and appropriately manage the market risks they face, and the Board of Directors has primary responsibility for establishing policies and procedures to identify these risks.
Keywords:
IMF-World Bank Financial Sector Assessment Program; Board audit committee; Banco Nacional de Panama; adequacy ASSESSMENT process; vice presidency; Bank legislation; Credit risk; Market risk; Operational risk; Liquidity risk; Global
Cover IMF Working Papers
Deciphering Delphic Guidance: The Bank of England and Brexit
Jagjit Chadha
,
Corrado Macchiarelli
,
Satyam Goel
,
Arno Hantzsche
, and
Sathya Mellina
In response to the 2016 referendum on EU Membership and the ensuing uncertainty as to the eventual consequences of Brexit, the Bank of England (BoE) adopted various methods of influencing market rates, including conventional, unconventional monetary policy measures and communications on forward guidance. To investigate the effectiveness of BoE’s communication, we first decompose long-dated yields into a risk neutral and term premium component. Text-based analysis of Monetary Policy Committee minutes is then used to measure the stance of policy, attitudes to QE and Brexit. We show that the Bank’s communication strategy acted to complement the stance of monetary policy, which had responded by lowering Bank rate and expanding QE, and acted to lower the term premium that might otherwise have risen in response to Brexit uncertainty.
Keywords:
UK referendum; Brexit; risk premium; monetary policy; central bank communication; text mining; BoE action; BoE strategy; Bank of England MPC communication; BoE's monetary policy; Brexit referendum; Yield curve; Unconventional monetary policies; Central bank policy rate; Sovereign bonds; Global