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Risk Exposures and Financial Spillovers in Tranquil and Crisis Times; Bank-Level Evidence
Poirson, Hélène; Schmittmann, Jochen M. - International Monetary Fund (IMF) - 2013
is the evolution of banks’ stock price exposure to country-level and global risk factors as approximated by equity … indices; second, which bank-specific characteristics explain these risk exposures; third, are there clusters of banks with … equity price linkages beyond market risk factors. The paper finds a rise in sensitivities to both country and global risk …
Persistent link: https://www.econbiz.de/10011242342
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Audit Committees in Central Banks
Sullivan, Kenneth; Gilson, Marie-Thérèse Camilleri; … - International Monetary Fund (IMF) - 2007
This paper reviews the tasks and design of audit committees, increasingly recommended as a way to strengthen financial accountability and good central bank governance. It outlines the motivations for the establishment of audit committees in commercial corporations and public sector entities, and...
Persistent link: https://www.econbiz.de/10005605398
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Procyclicality and Fair Value Accounting
Scarlata, Jodi G.; Sole, Juan; Novoa, Alicia - International Monetary Fund (IMF) - 2009
measures, and risk management need to be reconciled and will require adjustments on the part of all parties. …
Persistent link: https://www.econbiz.de/10005825915
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Transparency in Central Bank Financial Statement Disclosures
Sullivan, Kenneth - International Monetary Fund (IMF) - 2005
The IMF's development of the Code of Good Practices on Transparency in Monetary and Financial Policies and the introduction of safeguards assessments have increased emphasis on transparency of the disclosures made in central bank financial statements. This paper, which updates WP/00/186, looks...
Persistent link: https://www.econbiz.de/10005599561
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Banking Crises and Crisis Dating; Theory and Evidence
Loukoianova, Elena; Nicoló, Gianni De; Boyd, John H. - International Monetary Fund (IMF) - 2009
Many empirical studies of banking crises have employed "banking crisis" (BC) indicators constructedusing primarily information on government actions undertaken in response to bank distress. Weformulate a simple theoretical model of a banking industry which we use to identify and...
Persistent link: https://www.econbiz.de/10008528706
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The Role of the Prudential Supervision and Financial Restructuring of Banks During Transition to Indirect Instruments of Monetary Control
International Monetary Fund (IMF); International … - 1996
This paper proposes a stylized sequencing of banking supervision and bank restructuring measures designed to complement and expedite the adoption of indirect instruments of monetary policy. Appropriate sequencing reflects both operational considerations and macroeconomic effects of structural...
Persistent link: https://www.econbiz.de/10005599244
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Euro Area Policies; 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Member Coun...
International Monetary Fund (IMF); International … - 2009
This 2009 Article IV Consultation focuses on euro area policies. The euro area remains in recession, with signs of improvement yet to evolve into a recovery. The large drop in financial wealth, an associated increase in private savings, tight financing conditions, and the adjustment of global...
Persistent link: https://www.econbiz.de/10011245769
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Moral Hazard and International Crisis Lending: A Test
Dell'Ariccia, Giovanni; Zettelmeyer, Jeromin; Schnabel, … - International Monetary Fund (IMF) - 2002
We test for the existence of a moral hazard effect attributable to official crisis lending by analyzing the evolution of sovereign bond spreads in emerging markets before and after the Russian crisis. The nonbailout of Russia in August 1998 is interpreted as an event that decreased the perceived...
Persistent link: https://www.econbiz.de/10005263951
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Macroprudential Policy; What Instruments and How to Use them? Lessons From Country Experiences
International Monetary Fund (IMF); International … - 2011
. Using data from 49 countries, the paper evaluates the effectiveness of macroprudential instruments in reducing systemic risk …
Persistent link: https://www.econbiz.de/10009369434
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Risk Sharing and Financial Contagion in Asia; An Asset Price Perspective
Rungcharoenkitkul, Phurichai - International Monetary Fund (IMF) - 2011
This paper assesses financial integration in Asia in terms of risk-sharing benefit versus financial-contagion cost. We … construct a new measure of risk sharing based on a term structure model, which allows identification of realized stochastic … discount factors. Risk sharing is low in Asia, and varies across time and countries, whereas contagion risks are more …
Persistent link: https://www.econbiz.de/10009369441