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Business and Economics > Banks and Banking

You are looking at 1 - 6 of 6 items for :

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Cover IMF Staff Country Reports
United States: 2016 Article IV Consultation-Press Release; and Staff Report
International Monetary Fund. Western Hemisphere Dept.
This 2016 Article IV Consultation highlights that the United States is now in its seventh consecutive year of expansion. The unemployment rate has fallen to 4.9 percent, and household net worth is close to precrisis peaks. Nonetheless, the economy has gone through a temporary growth dip in the last two quarters. Lower oil prices led to a further contraction in energy sector investment, and a strong dollar and weak global demand have weighed on net exports. With activity indicators for the second quarter of 2016 rebounding, the economy is expected to grow at 2.2 percent and 2.5 percent in 2016 and 2017, which is above potential.
Keywords:
ISCR; CR; spending momentum; article IV discussion; staff appraisal; potential GDP; rate; liability positions vis-à-vis nonresident; money market rate; Inflation; Income; Labor markets; Wages; Global
Cover IMF Staff Country Reports
United States: Staff Report for the 2015 Article IV Consultation
International Monetary Fund. Western Hemisphere Dept.
This 2015 Article IV Consultation highlights that the U.S. economy’s momentum in the first quarter of 2015 was sapped by unfavorable weather, a sharp contraction in oil sector investment, and the West Coast port strike. But the underpinnings for a continued expansion remain in place. A solid labor market, accommodative financial conditions, and cheaper oil should support a more dynamic path for the remainder of the year. Despite this, the weaker outturn in the first few months of 2015 will unavoidably pull down 2015 growth. Despite important policy uncertainties, the near-term fiscal outlook has improved, and the federal government deficit is likely to move modestly lower in the current fiscal year.
Keywords:
ISCR; CR; article IV discussion; rate; housing data; core PCE inflation; liability positions vis-à-vis nonresident; staff appraisal; personal income growth; Inflation; Central bank policy rate; Output gap; Financial sector risk; Global
Cover IMF Staff Country Reports
United States: Selected Issues
International Monetary Fund. Western Hemisphere Dept.
This Selected Issues paper on the United States of America examines the recent US labor force penetration rate (LFPR) dynamics. LFPR dynamics can be driven by structural factors and cyclical ones related to job prospects. With participation rates for older workers lower than for prime age workers, demographic models suggest that aging of the baby boom generation explains about 50 percent of the near 3p.p. LFPR decline during 2007–2013. State-level panel regression analysis is used to tie down the cyclical effect, which is estimated to account for about 30–40 percent of the decline. Significant remaining slack in the labor market points to an important role for macroeconomic and labor supply policies. This suggests a still important role for stimulative macroeconomic policies to help reach full employment. Macroeconomic policy should remain accommodative for a while given sizeable labor market slack. This slack goes beyond that signaled by the unemployment rate and takes account of the LFPR being below trend and many employees working part time ‘involuntarily’.
Keywords:
ISCR; CR; TFP growth; federal funds rate; LFPR decline; fed fund; policy uncertainty; Fed funds lending; LFPR dynamics; Total factor productivity; Unemployment; Aging; Central bank policy rate; Global; Caribbean; North America; Europe
Cover IMF Staff Country Reports
British Virgin Islands: Financial Sector Assessment Program Update: Detailed Assessment of Basel Core Principles for Effective Banking Supervision
International Monetary Fund
The Banks and trust Companies Act, Financial Services Commission Act, and the Regulatory Act are considered for banking supervision. The assessment is also based on a self-assessment prepared by the Financial Services Commission (FSC). British Virgin Islands (BVI) law provides three classes of banking licenses. The preconditions for effective banking supervision are present in the BVI. The FSC has sufficient autonomy, powers, and resources with clear responsibilities and objectives. The FSC does not impose specific limits on investments but reviews bank-imposed limits. The FSC has a well-developed system of ongoing supervision in place.
Keywords:
ISCR; CR; bank; FSC staff; FSC reviews compliance; BVI bank; capital base; FSC onsite inspection; parent bank; shell bank; license bank; subsidiary bank; FSC's policy; reviews bank-imposed limit; overseas bank; Bank supervision; Market risk; Basel Core Principles; Bank licensing; Caribbean; East Asia; Global
Cover IMF Staff Country Reports
Dominica: Statistical Annex
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; current account; private sector; net equity; income tax; factor cost; after-tax profits; official borrowing; equity participation; net credit; Public sector; Capital spending; Commercial banks; Current spending; Caribbean
Cover IMF Staff Country Reports
Dominican Republic: Statistical Annex
International Monetary Fund
This paper examines the Uruguay Round and its implications for the Dominican Republic. The ratification of the Uruguay Round Agreement has several implications for the Dominican Republic. Certain regulatory and legislative reforms will have to be addressed, some new specific institutional mechanisms developed, and several commitments will have to be implemented. In addition, the competitiveness of the Dominican Republic regarding several export products may be affected. The paper highlights that the Dominican Republic has committed to unifying all import charges to no more than a harmonized level of 40 percent.
Keywords:
ISCR; CR; custom tariff system; custom tax exemption; credit facilities; tariff surcharge; tariff rate; Public sector; Loans; Agricultural commodities; Exports; Commercial banks; North America; South America; Caribbean