## 0709a

## Source details

**Canonical URL:** [0709a](https://www.imf.org/-/media/files/publications/fmu/0709a.pdf)

## Other formats

- [Markdown version](/-/media/files/publications/fmu/0709a.pdf.md)
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### Bank Systemic Risk Indicators
- Figure 1 presents "Bank Systemic Risk Indicators (In basis points)" with series for "United States", "Euro Area", and "United Kingdom".
- Two panels shown:
  - "3-Month Libor Minus Overnight Index Swap Spreads" with vertical scale ticks at 0, 100, 200, 300, 400 and time range including 2007, 2008, 2009. The panel marks "Lehman".
  - "5-Year Bank Credit Default Swap Spreads" with vertical scale ticks at 0, 100, 200, 300, 400, 500, 600 and time range including 2007, 2008, 2009. The panel marks "Lehman".
- Sources cited: Bloomberg L.P.; and Datastream.

### Emerging Market External Securities Issuance
- Figure 2 titled "Emerging Market External Securities Issuance (In billions of U.S. dollars)" shows:
  - Time series quarterly from Q106 through Q209 with stacked regions labeled "Middle East/Africa", "Europe", "Latin America", "Asia".
  - A second panel labeled "Bonds and Equities" with vertical scale ticks 0, 20, 40, 60, 80, 100, 120 and quarterly bars Q106 through Q209.
  - A third panel "Bonds by Borrower Quality (January-May)" for 2007, 2008, 2009 showing "Investment Grade" and "Sub-Investment Grade" with vertical scale ticks 0, 20, 40, 60, 80.
- Sources cited: Bond Radar Ltd.; and Dealogic.

### Credit and Lending Conditions
- Figure 3 titled "Credit and Lending Conditions (In percent)" shows:
  - Panel "Bank Credit Growth to Private Sector (Year-on-year)" with vertical scale ticks -4, 0, 4, 8, 12, 16, 20 and time series 2001–2009 for "United States", "Euro Area", "United Kingdom", "Japan".
  - Panel "Lending Officer Surveys Net easing / Net tightening" with vertical scale ticks -40, -20, 0, 20, 40, 60, 80, 100 and time series 2005–2009 for "United States", "Euro Area", "United Kingdom", "Japan".
- Sources cited: Bank for International Settlements; and central banks.
- Note: "Lending surveys represent weighted average of conditions for households and corporates."

### Securitization Issuance
- Figure 4 titled "Securitization Issuance (In billions of U.S. dollars)" shows:
  - Panel for the United States with vertical scale ticks 0, 500, 1000, 1500, 2000, 2500, 3000, 3500, 4000 and time series 2004–2009; includes "Fed MBS purchases".
  - Panel for Europe with vertical scale ticks 0, 200, 400, 600, 800, 1000 and time series 2004–2009 showing "Market" and "Retained".
  - Note: "Issuance data annualized for 2009 and include mortage-related and asset-backed securities. Purchasing data through end-June."
- Sources cited: Citigroup; European Securitization Forum; and SIFMA.

### Cross-Border Bank Lending
- Figure 5 titled "Cross-Border Bank Lending" consists of:
  - Panel "BIS Banks: External Claims (Percent change)" with vertical scale ticks -15, -10, -5, 0, 5, 10, 15 and quarterly bars from Q106 through Q408 distinguishing "Advanced Economies" and "Emerging Economies".
  - Panel "Emerging Market External Loan Issuance (Billions of U.S. dollars)" with vertical scale ticks 0, 20, 40, 60, 80, 100, 120, 140, 160 and quarterly bars Q106 through Q209 with regions "Middle East/Africa", "Europe", "Latin America", "Asia".
- Sources cited: Bank for International Settlements; and Dealogic.

### Sovereign Debt
- Figure 6 titled "Sovereign Debt" shows:
  - Panel "Debt Issuance (Billions of U.S. dollars, annual average)" with vertical scale ticks 0, 500, 1000, 1500, 2000, 2500 and series for "United States", "Europe", "Japan" with "Actual (2000-08)" and "Projected (2009-10)".
  - Panel "5-Year Credit Default Swap Spreads (Basis points)" with vertical scale ticks 0, 50, 100, 150, 200, 250, 300 and time points Jul-08, Oct-08, Jan-09, Apr-09, Jul-09 for "United States", "United Kingdom", "Germany", "Selected Europe*", "Japan". Footnote: "* Greece, Ireland, Italy, Portugal, and Spain."
- Sources cited: Bloomberg L.P.; and IMF, World Economic Outlook.

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_Source: https://www.imf.org/-/media/files/publications/fmu/0709a.pdf_