Supranational focus (1): the Financial Stability Forum and the International Monetary Fund

Financial Stability ◽

Data Dissemination ◽

Data Sets ◽

Global Crisis ◽

Close Link ◽

Data Gaps ◽

In the wake of the recent global crisis, the international community is giving an increased focus on stability of the financial system. With the increasing need for data sets to undertake this analysis, the question naturally arises as to what types of data are needed? While various data initiatives are underway, two initiatives at the forefront are: (1) the International Monetary Fund/Financial Stability Board Group of Twenty (IMF/FSB G-20) Data Gaps Initiative (DGI) which is endorsed by the G-20 Finance Ministers and Central Bank Governors as well as the IMF's International Monetary and Financial Committee and (2) the new Special Data Dissemination Standard (SDDS) Plus, aimed particularly at economies with systemically important financial sectors. This paper explains the relevance of the DGI for financial stability analysis and the close link with the SDDS Plus.

The International Monetary Fund and its Role as a Guarantor of Global Financial Stability

SSRN Electronic Journal ◽

10.2139/ssrn.3304551 ◽

2018 ◽

Author(s):

Sonsoles Gallego Herrero ◽

Pilar L´Hotellerie-Fallois ◽

Fernando López Vicente

Keyword(s):

Financial Stability ◽

Book Reviews

Journal of Economic Literature ◽

10.1257/jel.52.1.211.r14 ◽

2014 ◽

Vol 52 (1) ◽

pp. 234-236

Keyword(s):

World Bank ◽

Financial Stability ◽

International Affairs ◽

Financial History ◽

Bretton Woods ◽

The World Bank ◽

Research Associate ◽

The World ◽

Richard N. Cooper of Harvard University reviews, “The Bretton Woods Transcripts” by Kurt Schuler and Andrew Rosenberg. The Econlit abstract of this book begins: “Presents the verbatim record of meetings of the Bretton Woods Conference, which established the International Monetary Fund and the World Bank. Transcripts focus on Commission I—the International Monetary Fund; the committees of Commission I; and Commissions II and III—the World Bank and other means of cooperation. Schuler is an economist in the Office of International Affairs at the U.S. Department of the Treasury and Senior Fellow in Financial History at the Center for Financial Stability. Rosenberg is a research associate at the Center for Financial Stability.”

Basle Committee on Banking Supervision: Basle Core Principles for Effective Banking Supervision

International Legal Materials ◽

10.1017/s0020782900018337 ◽

1998 ◽

Vol 37 (2) ◽

pp. 405-432 ◽

Cited By ~ 2

Keyword(s):

World Bank ◽

Financial Stability ◽

Banking System ◽

Banking Supervision ◽

Financial Systems ◽

The World Bank ◽

The World ◽

Bank For International Settlements ◽

Weaknesses in the banking system of a country, whether developing or developed, can threaten financial stability both within that country and internationally. The need to improve the strength of financial systems hasattracted growing international concern. The Communique issued at the close of the Lyon G-7 Summit in June 1996 called for action in this domain. Several official bodies, including the Basle Committee on Banking Supervision, the Bank for International Settlements, the International Monetary Fund and the World Bank, have recently been examining ways to strengthen financial stability throughout the world.

Modeling of the financial system?s stability on the example of Ukraine

Equilibrium ◽

10.24136/eq.2021.014 ◽

2021 ◽

Vol 16 (2) ◽

pp. 377-411

Author(s):

Inna Shkolnyk ◽

Serhiy Kozmenko ◽

Olga Kozmenko ◽

Volodymyr Orlov ◽

Fathi Shukairi

Keyword(s):

Financial Institutions ◽

Financial Stability ◽

Desirability Function ◽

Financial System ◽

Value Added ◽

The State ◽

Depth Level ◽

The International Monetary Fund ◽

Range Of Variation

Research background: Financial stability is one of the key tasks in the functioning of the country?s financial system. National financial systems have significant differences in the level of their development, structure and approaches to regulation. There are no uniform world standards for methods and indicators of assessing financial stability. International financial institutions, including the International Monetary Fund, only outline certain areas and offer an indicative list of indicators that should be taken into account. Purpose of the article: Taking into account the peculiarities of the subject and object structure of Ukraine?s financial system, this study formed groups of indicators that reflect the state of financial depth, level of access and efficiency of the financial system, systematized by subject (financial institutions) and object financial markets) characteristics. Methods: The basis for the formation of a set of indicators is a matrix of characteristics of the financial system?s stability, which is formed according to the principle of 4x2 proposed by experts of the International Monetary Fund. The list of indicators to calculate the integrated indicator that characterizes the stability of the financial system of Ukraine, covers the period 2007?2019 and includes 29 indicators that take into account the peculiarities of its formation and development. Harrington?s desirability function is used to determine the integrated indicator that characterizes the state of financial stability. Findings & value added: The intermediate calculations obtained by modeling groups of indicators showed that the level of access to the financial system and the state of its depth are balanced during the study period (the range of variation of integrated indicators for these groups is minimal ? from 0.1 to 0.18), is at a satisfactory level and the basis for ensuring the financial system?s stability. Conversely, the efficiency of the financial system is low, and characterized by a high degree of volatility (range of variation ? 0.51). The obtained integrated indicator, which is in the range from 0.41 to 0.54 on the Harrington desirability scale, makes it possible to assess the state of the financial system?s stability in Ukraine as satisfactory, but with a high level of sensitivity to both external and internal shocks.

United States and International Monetary Fund

10.1093/oso/9780198801801.003.0008 ◽

2017 ◽

Author(s):

C. Randall Henning

Keyword(s):

United States ◽

Euro Area ◽

Financial Stability ◽

Balance Sheet ◽

Active Role ◽

The United States ◽

Banking Union ◽

European Stability Mechanism ◽

The United States played an active role in the response to the euro crisis and decisions on the involvement of the International Monetary Fund. U.S. policymakers supported the use of the Fund in order to assist Europe and prevent contagion across the Atlantic. But the United States conditioned its support on euro-area-wide policies to extinguish the crisis, including creating the European Financial Stability Facility and European Stability Mechanism, using the European Central Bank balance sheet fully, and committing to banking union. This chapter traces the evolution of U.S. strategy during the crisis and the conversion of officials in Washington to the cause of completing the architecture of the euro area. The IMF staff also advocated deepening the euro area, and did so more strongly than many euro-area member states. The Fund’s advocacy, which is puzzling from the standpoint of its bureaucratic interest, reflects the preferences of the United States and other non-European members.

The International Monetary Fund, the World Bank and Financial Stability: The Case of Russian and East Asian Financial Crises

The Journal of Economics Studies and Research ◽

10.5171/2012.904328 ◽

2013 ◽

pp. 1-26

Author(s):

Aikaterini Valvi ◽

Konstantinos Fragkos ◽

Christos Frangos

Keyword(s):

World Bank ◽

Financial Crises ◽

Financial Stability ◽

East Asian ◽

The World Bank ◽

The World ◽

Greece 2010

10.1093/oso/9780198801801.003.0005 ◽

2017 ◽

Author(s):

C. Randall Henning

Keyword(s):

Euro Area ◽

Financial Stability ◽

Institutional Framework ◽

Member States ◽

German Politics ◽

Greek Crisis ◽

The Greek crisis of 2010 was a formative episode, during which European governments chose the mix of institutions that would formulate the rescue program and the institutions established the modalities for cooperation. This chapter examines the onset of the crisis in Greece and the genesis of its financial rescue. Specifically, it addresses the opposition to including the International Monetary Fund in the institutional mix for the first Greek program and the reasons why euro-area member states eventually selected it. The chapter also examines some of the institutional alternatives to the troika that might have been chosen but were rejected, creation of financial facilities of the euro area (the European Financial Stabilisation Mechanism and temporary European Financial Stability Facility), and role of German politics and preferences in the development of the euro area’s institutional framework.