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liquidity in the face of increased vulnerabilities calls for enhancing the liquidity support provided through the global financial safety net (GFSN). The global economy is experiencing a period of protracted uncertainty, marked by frequent episodes of volatility. Demand for liquidity has...
Persistent link: https://www.econbiz.de/10014408699
This note outlines the approach of the proposed revision to the Institutional View (IV) when assessing whether systemic financial stability risks are elevated due to foreign currency (FX) mismatches. The approach builds on the staff guidance regarding risk assessments in bilateral surveillance,...
Persistent link: https://www.econbiz.de/10015060526
Persistent link: https://www.econbiz.de/10014409725
The paper describes the evolution of the corporate stock and bond markets in Korea and the Government’s role in this evolution and its policy with regard to internationalization of the capital market. The paper analyzes problems encountered in gradually opening the Korean capital market to...
Persistent link: https://www.econbiz.de/10014395771
Assiduously tracking the trends and consequences of globalization, the IMF's quarterly magazine Finance & Development … focuses on financial globalization, including the policy implications of the huge growth in cross-border capital flows …. Articles also look at the expansion of world trade, explore the impact of globalization on jobs, taxation, and the poor, and …
Persistent link: https://www.econbiz.de/10014404799
These Technical Notes on France explain integration of global financial markets. The stress tests for the France Financial Sector Assessment Program (FSAP) were designed to yield as comprehensive and detailed a picture as possible within the constraints of the approach. Retail activity by...
Persistent link: https://www.econbiz.de/10014405967
This paper analyzes the evolution and effectiveness of Indonesia’s monetary control system following the financial reforms implemented since 1983. These reforms entailed the abolition of interest rate and credit ceilings, a change in the central bank’s funding role, the introduction of new...
Persistent link: https://www.econbiz.de/10014396201
In recent years a number of countries have undertaken far-reaching reforms of their financial sectors. Generally speaking, financial sector reforms aim at achieving greater flexibility of interest rates, an enhanced role for market forces in credit allocation, increased independence for the...
Persistent link: https://www.econbiz.de/10014398013
OTC derivatives markets were an increasing source of vulnerability heading into the crisis. OTC derivatives markets contributed to the financial crisis. Credit derivatives facilitated the development and growth of the structured securities markets; and the purchasing, packaging, and distribution...
Persistent link: https://www.econbiz.de/10014403702
The issue of using monetary policy for financial stability purposes is hotly contested. The crisis was a reminder that price stability is not sufficient for financial stability, financial crises are costly, and policy should aim to decrease the likelihood of crises, not only rely on dealing with...
Persistent link: https://www.econbiz.de/10014408540