Adequacy of the Global Financial Safety Net

Policy Papers ◽  
2016 ◽  
Vol 16 (59) ◽  
Author(s):  
Keyword(s):  
Central Bank ◽  
Safety Net ◽  
Macroeconomic Policies ◽  
Financial Arrangements ◽  
Financial Safety Net

The Global Financial Safety Net (GFSN) is comprised mainly of countries' own reserves and external public sources of insurance and financing. The main external official arrangements are central bank bilateral swap arrangements (BSAs), regional financial arrangements (RFAs), and the Fund. The safety net seeks to provide countries with insurance against crises, financing when shocks hit, and incentives for sound macroeconomic policies.

scholarly journals Stabilność i bezpieczeństwo systemu bankowego - aspekty instytucjonalne i operacyjne

2017 ◽  
pp. 121-142
Author(s):  
Bogusław Pietrzak ◽  
Katarzyna Wasiak
Keyword(s):  
Central Bank ◽  
Commercial Banks ◽  
Banking System ◽  
Safety Net ◽  
Operational Conditions ◽  
Banking Institutions ◽  
The Stability ◽  
Conditions Of Stability ◽  
Financial Safety Net

This article attempts to systematize the institutional and operational conditions of stability and security of the banking system. The intention of the authors is to analyse some factors strongly affecting the functions and principles of two members of modern banking systems - the central bank and commercial banks. The authors start the analyses by defining stability and security of the banking system. Then point out to the role of the various segments of the financial safety net in providing conditions for stable and secure system, and determine the necessary requirements of the stabilization as demanded from the banking institutions management system. In conclusion, they define the set of requirements (institutional and operational) necessary for achieving the stability and security of the banking system

scholarly journals Is the Financial Safety Net a Barrier to Cross-Border Banking?

2011 ◽  
Author(s):  
Harry Huizinga ◽  
Ata Can Bertay ◽  
Asli Demirgüç-Kunt
Keyword(s):  
Safety Net ◽  
Cross Border ◽  
Financial Safety Net

A Framework for Regional Banking Regulation in ASEAN

2020 ◽  
Vol 19 (3) ◽  
pp. 111-125
Author(s):  
Peter J. Morgan
Keyword(s):  
Capital Flows ◽  
Deposit Insurance ◽  
Financial Regulation ◽  
Financial Integration ◽  
Banking Regulation ◽  
Safety Net ◽  
Regional Level ◽  
Cross Border ◽  
Banking Institutions ◽  
Financial Safety Net

This paper argues that there is a role for regional-level institutions of banking regulation in the ASEAN region. This is particularly important in an environment of increasing financial integration and harmonization, including exposures to shocks from volatile capital flows and cross-border banking institutions. The paper examines four aspects of financial regulation: microprudential regulation, macroprudential regulation, resolution capacity and deposit insurance, and a financial safety net. The paper argues that EU regional banking regulation provides a useful reference point, but the lower degree of credit market openness in ASEAN implies that a more nuanced approach can be adopted, and makes specific recommendations.

Macroeconomic Policy in Cuba

2014 ◽  
pp. 326-338
Author(s):  
Ernesto Hernández-Catá
Keyword(s):  
Resource Allocation ◽  
Central Bank ◽  
Substantial Part ◽  
Fiscal Deficit ◽  
Lender Of Last Resort ◽  
Macroeconomic Policies ◽  
Rate System ◽  
Multiple Exchange ◽  
Exchange Rate System ◽  
Harmful Effects

This chapter examines the evolution of macroeconomic policies in Cuba during the past 25 years. It analyzes the changes in fiscal policy from its wild gyrations in the early 1990s to the period of stability from 1994 to 2004, and to the crisis of 2008 and its sequel. It then examines the strategy of the Central Bank of Cuba and the tension between its anti-inflationary objective and its obligation to finance a substantial part of the fiscal deficit. It also emphasizes the need for new, modern instruments of monetary control, and the need to equip the central bank to become a lender of last resort. Finally, the chapter discusses the current multiple exchange rate system, its discriminatory nature, and its harmful effects on resource allocation, equity, and the interpretation of statistics.

Update on the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Countries

Policy Papers ◽  
2017 ◽  
Vol 17 (15) ◽  
Author(s):  
Keyword(s):  
Natural Disasters ◽  
Financial Market ◽  
Low Income ◽  
Commodity Prices ◽  
Safety Net ◽  
Debt Relief ◽  
Balance Of Payments ◽  
Low Income Countries ◽  
Market Conditions ◽  
Financial Safety Net

PRGT-related policies following the 2015 enhancement of the financial safety net for LICs, while options to better assist countries confronting sudden balance of payments needs due to large natural disasters are under consideration. Demand for PRGT resources has increased. Demand for concessional resources has exceeded historical averages in recent years, mainly in response to sustained low commodity prices and deteriorated global financial market conditions. Demand is expected to reach new highs in 2017 and longer-term estimates have been raised somewhat.

2017 Handbook of IMF Facilities for Low-Income Countries

Policy Papers ◽  
2017 ◽  
Vol 2017 (2) ◽  
Author(s):  
Keyword(s):  
Developing Countries ◽  
Low Income ◽  
Poverty Reduction ◽  
Safety Net ◽  
Policy Coordination ◽  
Low Income Countries ◽  
Executive Board ◽  
Reference Tool ◽  
Financial Safety Net ◽  
Comprehensive Reference

This Handbook provides guidance to staff on the financial facilities and non-financial instruments for low-income countries (LICs), defined here as all countries eligible to obtain concessional financing from the Fund. It updates the previous version of the Handbook that was published in February 2016 (IMF, 2016d) by incorporating modifications resulting from Board papers and related decisions since that time, including Financing for Development—Enhancing the Financial Safety Net for Developing Countries—Further Considerations (IMF, 2016c), Review of Poverty Reduction and Growth Trust – Review of Interest Rate Structure (IMF, 2016b), Eligibility to Use the Fund’s Facilities for Concessional Financing (IMF, 2017a), Large Natural Disasters—Enhancing the Financial Safety Net for Developing Countries (IMF, 2017b) and Adequacy of the Global Financial Safety Net – Proposal for a New Policy Coordination Instrument (IMF, 2017c). Designed as a comprehensive reference tool for program work on LICs, the Handbook also refers, in summary form, to a range of relevant policies that apply more generally to IMF members. As with all guidance notes, the relevant IMF Executive Board decisions, including the terms of the various LIC Trust Instruments that have been adopted by the Board, remain the sole legal authority on the matters covered in the Handbook

Sign in / Sign up

Export Citation Format

Share Document