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Business and Economics > Investments: Stocks

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  • Type: Journal Issue x
  • Banks and banking, Foreign x
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Cover IMF Working Papers
French Banks Amid the Global Financial Crisis
Ms. Yingbin Xiao
This paper runs the gamut of qualitative and quantitative analyses to examine the performance of French banks during 2006-2008 and the financial support measures taken by the French government. French banks were not immune but proved relatively resilient to the global financial crisis reflecting their business and supervision features. An event study of the impact of government measures on CDS, debt, and equity markets points to the reduction of credit risk and financing cost as well as the redistribution of resources. With the crisis still unfolding, uncertainties remain and challenges lie ahead, calling for continued vigilance and enhanced risk management.
Keywords:
WP; French bank; bank assets; credit risk; State capital injection
Cover IMF Working Papers
Regional Financial Spillovers Across Europe: A Global VAR Analysis
Ms. Silvia Sgherri
and
Mr. Alessandro Galesi
The recent financial crisis raises important issues about the transmission of financial shocks across borders. In this paper, a global vector autoregressive (GVAR) model is constructed to assess the relevance of international spillovers following a historical slowdown in U.S. equity prices. The GVAR model contains 27 country-specific models, including the United States, 17 European advanced economies, and 9 European emerging economies. Each country model is linked to the others by a set of country-specific foreign variables, computed using bilateral bank lending exposures. Results reveal considerable comovements of equity prices across mature financial markets. However, the effects on credit growth are found to be country-specific. Evidence indicates that asset prices are the main channel through which-in the short run-financial shocks are transmitted internationally, while the contribution of other variables-like the cost and quantity of credit-becomes more important over longer horizons.
Keywords:
WP; rate of growth; Global VAR; Macro-Financial Linkages; International Financial Spillovers; equity price; foreign variable; coefficient estimate; estimation procedure; price growth; Vector autoregression; Stocks; Interbank rates; Credit; Foreign banks; Western Europe; Baltics; Global; Europe
Cover Global Financial Stability Report, September 2006
Global Financial Stability Report, September 2006
Market Developments and Issues
International Monetary Fund. Monetary and Capital Markets Department

Abstract

The Global Financial Stability Report (GSFR), published twice a year by the IMF, provides timely analysis of developments in mature and emerging market countries and seeks to identify potential fault lines in the global financial system that could lead to crisis. The GFSR aims to deepen its readers’ understanding of global capital flows, which play a critical role as an engine of world economic growth. Along with the IMF’s semiannual World Economic Outlook, the GFSR is a key vehicle for the IMF’s multilateral surveillance. The Global Financial Stability Report was created to provide a more frequent assessment of global financial markets and to address emerging market financing in a global context. The report focuses on current conditions in global financial markets, highlighting issues of financial imbalances, and of a structural nature, that could pose risks to financial market stability and sustained market access by emerging market borrowers. The GFSR focuses on relevant contemporary issues, not attempting to be a comprehensive survey of all potential risks. It also draws out the financial ramifications of economic imbalances highlighted by the IMF’s World Economic Outlook. It regularly contains, as a special feature, articles on structural or systemic issues relevant to international financial stability.

Keywords:
GFSR; market; emerging market; household credit; asset; market movement; market volatility; market turbulence; fiscal policy credibility; Consumer credit; Credit; Emerging and frontier financial markets; Loans; Stocks; Global; Europe; Africa; Asia and Pacific; Middle East; EM country; market correction; market participant; baseline market view; currency market concern; yen carry trade; credit growth; Mortgages; Foreign banks; Caribbean
Cover International Capital Markets
International Capital Markets
Developments, Prospects, and Key Policy Issues (September 2000)
International Monetary Fund

Abstract

Following a review and assesment of recent developments in capital market and banking systems, this year's International Capital Markets report review and assesses recent developments in mature and emerging financial markets and continues the analysis of key issues affecting global financial markets. It examines the systemic implications of the continued rapid development of the global over-the-counter derivatives markets and the expansion of foreign-owned banks into emerging markets. The report also analyzes market participants assessments of the proposals for private sector involvement in the prevention and resolution of crises.

Keywords:
WEFS; market; OTC derivatives market; market participant; bank; investor; market turbulence; U.S. dollar; market view; OTC derivatives activity; Emerging and frontier financial markets; Foreign banks; Derivative markets; Stock markets; Securities markets; Global; Europe; Asia and Pacific; Middle East; Africa
Cover IMF Staff Country Reports
Switzerland: Selected Issues and Statistical Appendix
International Monetary Fund
The Swiss banking system is characterized by a two-tier structure. The first tier is composed of the two large banks and some smaller banks focused on private banking, all of which have a significant international presence. These banks represent, so to speak, the “international face” of the Swiss banks. They are mostly joint-stock companies or privately owned (unlimited personal liability). The second tier is composed of a varied group of banks, mostly focused on domestic, or even regional, business.
Keywords:
ISCR; CR; asset; bank; cantonal bank; share; portfolio share; portfolio equity assets; foreign assets; asset characteristic; Foreign assets; Current account; Foreign banks; Current account surpluses; Investment banking; Global; Europe