APRS on GFSR

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APRS on GFSR

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Contact

For event inquiries:
International Monetary Fund
Regional Office for Asia and the Pacific
Tel. 81-(0)3-3597-6700
Email: OAPEconomicSeminar@IMF.org

Overview

• The IMF’s Global Financial Stability Report documents that the near-term global financial stability risks have receded and disinflation is entering its last mile, while detailing several salient risks and a build-up of medium-term vulnerabilities.
• The report assesses vulnerabilities and potential risks to financial stability in corporate private credit, described as a rapidly growing asset class that now rivals other major credit markets in size.
• The IMF Regional Office for Asia and the Pacific hosted a hybrid seminar with the lead authors of the report to discuss these issues.

Key findings presented (attributed to the Global Financial Stability Report)

• Near-term global financial stability risks have receded.
• Disinflation is entering its last mile.
• Several salient risks remain alongside a build-up of medium-term vulnerabilities.
• Corporate private credit is a rapidly growing asset class that now rivals other major credit markets in size.

Policy analysis and recommendations presented

• Fabio M. Natalucci (Deputy Director, Monetary and Capital Markets Department) presented on global financial fragilities along the last mile of disinflation, and policy recommendation.
  • Emphasis: policy recommendations related to managing financial fragilities as disinflation progresses toward its final phase.
• Jason Wu (Assistant Director, Global Markets Analysis division) presented on a more proactive supervisory and regulatory approach to address potential risks posed by the fast-growing and interconnected corporate private credit asset class.
  • Emphasis: supervisory and regulatory measures to mitigate risks from rapid growth and interconnections in private credit.

Event speakers and roles

• Fabio M. Natalucci
  • Role: Deputy Director of the Monetary and Capital Markets Department, responsible for the IMF’s global financial markets monitoring and systemic risk assessment functions; oversees the Global Financial Stability Report.
  • Prior positions: Senior Associate Director in the Division of Monetary Affairs at the Federal Reserve Board; Deputy Assistant Secretary for International Financial Stability and Regulation at the U.S. Department of Treasury (October 2016 to June 2017).
  • Education: PhD in Economics from New York University.
• Jason Wu
  • Role: Assistant Director overseeing the Global Markets Analysis division at the IMF.
  • Prior positions: Associate Director in the Division of International Finance at the Federal Reserve Board; Head of Economic Research and later Head of Credit Risk and Banking Statistics at the HKMA (2018–2021); roles in Monetary Affairs and Supervision and Regulation at the Federal Reserve Board (2007–2018).
  • Education: PhD in economics from the University of Wisconsin-Madison.

Agenda (times and items)

• 10:00 AM — Introduction by Ozgur Demirkol, Deputy Director, IMF Regional Office for Asia and the Pacific
• 10:05 AM — Financial Fragilities along the Last Mile of Disinflation (GFSR Ch.1) by Fabio Natalucci; Presentation
• 10:35 AM — The Rise and Risks of Private Credit (GFSR Ch.2) by Jason Wu; Presentation
• 11:05 AM — Q&A session
• 11:25 AM — Closing & post-event survey

Press contact

• For press inquiries:
  • Press Officer: Yuko Maeda
  • Tel: 81-(0)3-3597-6719
  • Email: OAPMedia@IMF.org

Content in this bundle

• Presentation by Fabio Natalucci, IMF Asia-Pacific Regional Seminar, July 18, 2024
  • Presentation by Fabio Natalucci, IMF Asia-Pacific Regional Seminar, July 18, 2024 (Markdown version)
  • Presentation by Fabio Natalucci, IMF Asia-Pacific Regional Seminar, July 18, 2024 (PDF)
• Presentation by Jason Wu, IMF Asia-Pacific Regional Seminar, July 18, 2024
  • Presentation by Jason Wu, IMF Asia-Pacific Regional Seminar, July 18, 2024 (Markdown version)
  • Presentation by Jason Wu, IMF Asia-Pacific Regional Seminar, July 18, 2024 (PDF)

References

• Regional Office Website
• Asia-Pacific Regional Seminar Series
• High-level Economic Policy Conferences
• Macroeconomist Training Program
• Japan-IMF Scholarship Program for Asia
• Global Financial Stability Reportdocuments that the near-term global financial stability risks have receded and disinflation is entering its last mile, but it details several salient risks and a build-up of medium-term vulnerabilities. The report also assesses vulnerabilities and potential risks to financial stability in corporate private credit, a rapidly growing asset class that now rivals other major credit markets in size. The IMF Regional Office for Asia and the Pacific hosted a hybrid seminar with the lead authors of the report to discuss these issues. Fabio Natalucci presented on global financial fragilities along the last mile of disinflation, and policy recommendation. Jason Wu presented on a more proactive supervisory and regulatory approach to address potential risks posed by the fast-growing and interconnected asset class.