IMF Global Financial Stability Report -- Meeting New Challenges to Stability and Building a Safer System -- April 2010; Contents

Global Financial Stability Report, April 12, 2010

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IMF Global Financial Stability Report -- Meeting New Challenges to Stability and Building a Safer System -- April 2010; Contents

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Bibliographic details

• Authors: international law, practice.
• Published: April 12, 2010
• Series: Global Financial Stability Report

Report scope and purpose

• Semiannual assessments of global financial markets and emerging market financing in a global context.
• Full volume components noted on the page: Executive Summary (253KB pdf file), Preface (108K pdf file), Statistical Appendix (1428KB pdf file), and a downloadable full text reference: Download Full Text (6.2 kb).
• The site usage note: the term "country" may cover territorial entities that are not states; dependent territories are listed alphabetically with constitutional relationships.

Chapter I — Resolving the Crisis Legacy and Meeting New Challenges to Financial Stability

• Major analytical sections:
  • A. How Has Global Financial Stability Changed?
  • B. Could Sovereign Risks Extend the Global Credit Crisis?
  • C. The Banking System: Legacy Problems and New Challenges
  • D. Risks to the Recovery in Credit
  • E. Assessing Capital Flows and Bubble Risks in the Post-Crisis Environment
  • F. Policy Implications
• Annexes and focused assessments:
  • Annex 1.1. Global Financial Stability Map: Construction and Methodology
  • Annex 1.2. Assessing Proposals to Ban “Naked Shorts” in Sovereign Credit Default Swaps
  • Annex 1.3. Assessment of the Spanish Banking System
  • Annex 1.4. Assessment of the German Banking System
  • Annex 1.5. United States: How Different Are “Too-Important-to-Fail” U.S. Bank Holding Companies?
  • Annex 1.6. Analyzing Nonperforming Loans in Central and Eastern Europe Based on Historical Experience in Emerging Markets
  • Annex 1.7. Credit Demand and Capacity Estimates in the United States, Euro Area, and United Kingdom
  • Annex 1.8. The Effects of Large-Scale Asset Purchase Programs
  • Annex 1.9. Methodologies Underlying Assessment of Bubble Risks
  • Annex 1.10. Euro Zone Sovereign Spreads: Global Risk Aversion, Spillovers, or Fundamentals?
• Supporting elements: Full Text | Video | Boxes | Figures | Tables | Press Points
• Relevant boxes include: 1.1 through 1.7 (detailed topics such as swap spreads, nonperforming loans, residential real estate, “too-important-to-fail,” and loan-loss estimation for Spain and Germany).

Chapter II — Systemic Risk and the Redesign of Financial Regulation

• Major analytical subsections:
  • Implementing Systemic-Risk-Based Capital Surcharges
  • Reforming Financial Regulatory Architecture Taking into Account Systemic Connectedness
  • Policy Reflections
• Annex: Annex 2.1. Highlights of Model Specification
• Supporting elements: Full Text | Video | Press Points
• Boxes include: 2.1 through 2.5 covering prudential proposals, systemic-importance assessment, aggregate loss distribution computation, regulatory architecture proposals, and contingent capital.

Chapter III — Making Over-the-Counter Derivatives Safer: The Role of Central Counterparties

• Major analytical subsections:
  • The Basics of Counterparty Risk and Central Counterparties
  • The Case for Over-the Counter Derivative Central Clearing
  • Incentivizing Central Counterparty Participation and the Role of End-Users
  • Criteria for Structuring and Regulating a Sound Central Counterparty
  • How Should Central Counterparties Be Regulated and Overseen?
  • One versus Multiple Central Counterparties?
  • Conclusions and Policy Recommendations
• Supporting elements: Full Text | Video | Figures | Press Points
• Boxes include: 3.1 through 3.7 (mechanics of clearing, novation and netting, Lehman and AIG cases, portability and collateral segregation, CCP failure history, regulatory landscapes, legal aspects of interlinking and cross-margining).

Chapter IV — Global Liquidity Expansion: Effects on “Receiving” Economies and Policy Response Options

• Major analytical subsections:
  • Overview of the 2007–09 Global Liquidity Expansion
  • Effects of the Global Liquidity Expansion on the Liquidity-Receiving Economies
  • Policy Response Options for Liquidity-Receiving Economies
  • Effectiveness of Capital Controls
  • Conclusions
• Annexes and case material:
  • Annex 4.1. Econometric Study on Liquidity Expansion: Data, Methodology, and Detailed Results
  • Annex 4.2a. Global Liquidity Expansion—Capital-Account-Related Measures Applied in Selected Liquidity-Receiving Economies
  • Annex 4.2b. Global Liquidity Expansion—Policy Responses Affecting the Capital Account in Selected Liquidity-Receiving Economies
  • Annex 4.3. Country Case Studies
• Supporting elements: Full Text | Video | Press Points
• Boxes include: 4.1 through 4.6 (liquidity transmission, capital controls versus prudential measures, inflows vs outflows, reserve requirements, event study results, market participant views).

Statistical and analytical resources included in the volume

• Statistical Appendix (1428KB pdf file) with dedicated sections:
  • Key Financial Centers: Figures | Tables
  • Emerging Markets: Figures | Tables
  • Financial Soundness Indicators: Tables
• Extensive tables and data series listed, including but not limited to:
  • Sovereign Market and Vulnerability Indicators
  • Estimates of Global Bank Writedowns by Domicile, 2007–10
  • Aggregate Bank Capital Positions
  • Projections of Credit Capacity for and Demand from the Nonfinancial Sector
  • Global Over-the-Counter Derivatives Markets: Notional Amounts and Gross Market Values of Outstanding Contracts
  • Sectoral Balance Sheets for United States, Japan, Europe
• Figures and charts enumerated (examples): Global Financial Stability Map; Sovereign Debt to GDP in the G-7; Contributions to Five-Year Sovereign Credit Default Swap Spreads; The Four Stages of the Crisis; Net Notional Credit Default Swaps Outstanding as a Share of Total Government Debt; Bank Credit to the Private Sector; Global Liquidity; Change of Central Bank Policy Rates.
• Specific figure and table identifiers are provided throughout the contents (for example, Figures 1.15–1.52, 1.36–1.38, 2.7–2.8, 3.x, 4.8, 4.9, Statistical Appendix tables 1–27).

Policy analysis, recommendations, and tools signposted by the contents

• Systemic-risk-based capital surcharges and methodologies for their computation and calibration.
• Proposals for regulatory architecture reform that account for systemic connectedness and cross-jurisdictional oversight.
• Policy recommendations for OTC derivatives central clearing: structuring, regulation, oversight, and incentives for participation.
• Policy response options for liquidity-receiving economies, including capital-account measures, prudential tools, reserve requirements, and evaluation of capital controls’ effectiveness.
• Annexed empirical and model-based studies to support policy design: econometric analysis of liquidity expansion, simulation of systemic risk capital surcharges, loss-estimation methodologies, and country-specific banking-system assessments.

IMF Global Financial Stability Report -- Meeting New Challenges to Stability and Building a Safer System -- April 2010

Content in this bundle

• Figure 1.1. Global Financial Stability Map
  • Figure 1.1. Global Financial Stability Map (Markdown version)
  • Figure 1.1. Global Financial Stability Map (CSV)
• Figure 1.10. Regional Spillovers from Western Europe to Emerging Markets
  • Figure 1.10. Regional Spillovers from Western Europe to Emerging Markets (Markdown version)
  • Figure 1.10. Regional Spillovers from Western Europe to Emerging Markets (CSV)
• Figure1 11
  • Figure1 11 (Markdown version)
  • Figure1 11 (CSV)
• Figure 1.1. U.S. Bank Loan Charge-Off Rates
  • Figure 1.1. U.S. Bank Loan Charge-Off Rates (Markdown version)
  • Figure 1.1. U.S. Bank Loan Charge-Off Rates (CSV)
• Figure 1.13. Global Securities Prices
  • Figure 1.13. Global Securities Prices (Markdown version)
  • Figure 1.13. Global Securities Prices (CSV)
• Figure 1.14. U.S. Mortgage Market
  • Figure 1.14. U.S. Mortgage Market (Markdown version)
  • Figure 1.14. U.S. Mortgage Market (CSV)
• Figure 1.15. Banks' Pricing Power - Actual and Forecast
  • Figure 1.15. Banks' Pricing Power - Actual and Forecast (Markdown version)
  • Figure 1.15. Banks' Pricing Power - Actual and Forecast (CSV)
• Figure 1.16. Bank Debt Rollover by Maturity Debt
  • Figure 1.16. Bank Debt Rollover by Maturity Debt (Markdown version)
  • Figure 1.16. Bank Debt Rollover by Maturity Debt (CSV)
• Figure1 17
  • Figure1 17 (Markdown version)
  • Figure1 17 (CSV)
• Figure 1.18. Euro Area Banking Profitability
  • Figure 1.18. Euro Area Banking Profitability (Markdown version)
  • Figure 1.18. Euro Area Banking Profitability (CSV)
• Figure 1.19. Net ECB Liquidyt Provision and CDS Spreads
  • Figure 1.19. Net ECB Liquidyt Provision and CDS Spreads (Markdown version)
  • Figure 1.19. Net ECB Liquidyt Provision and CDS Spreads (CSV)
• Figure 1.2. Macroeconomic Risks in the Global Financial Stability Map
  • Figure 1.2. Macroeconomic Risks in the Global Financial Stability Map (Markdown version)
  • Figure 1.2. Macroeconomic Risks in the Global Financial Stability Map (CSV)
• figure1_20 — Bank Credit to the Private Sector
  • figure1_20 — Bank Credit to the Private Sector (Markdown version)
  • figure1_20 — Bank Credit to the Private Sector (CSV)
• Figure 1.21. Bank Return on Equity and Percentage of Unprofitable Banks, 2008
  • Figure 1.21. Bank Return on Equity and Percentage of Unprofitable Banks, 2008 (Markdown version)
  • Figure 1.21. Bank Return on Equity and Percentage of Unprofitable Banks, 2008 (CSV)
• Figure 1.22. Banking System Profitability Indicators
  • Figure 1.22. Banking System Profitability Indicators (Markdown version)
  • Figure 1.22. Banking System Profitability Indicators (CSV)
• Figure 1.23. Real Nonfinancial Private Sector Credit Growth in the United States
  • Figure 1.23. Real Nonfinancial Private Sector Credit Growth in the United States (Markdown version)
  • Figure 1.23. Real Nonfinancial Private Sector Credit Growth in the United States (CSV)
• Figure1 24
  • Figure1 24 (Markdown version)
  • Figure1 24 (CSV)
• Figure 1.25. Contributions to Growth in Credit to Nonfinancial Private Sector Credit Growth
  • Figure 1.25. Contributions to Growth in Credit to Nonfinancial Private Sector Credit Growth (Markdown version)
  • Figure 1.25. Contributions to Growth in Credit to Nonfinancial Private Sector Credit Growth (CSV)
• Figure 1.26. Nonfinancial Pricate Sector Credit Growth
  • Figure 1.26. Nonfinancial Pricate Sector Credit Growth (Markdown version)
  • Figure 1.26. Nonfinancial Pricate Sector Credit Growth (CSV)
• Figure 1.27. Total Net Borrowing Needs of the Sovereign Sector
  • Figure 1.27. Total Net Borrowing Needs of the Sovereign Sector (Markdown version)
  • Figure 1.27. Total Net Borrowing Needs of the Sovereign Sector (CSV)
• Figure 1.28. Credit to GDP
  • Figure 1.28. Credit to GDP (Markdown version)
  • Figure 1.28. Credit to GDP (CSV)
• Figure 1.29. Low Short-Term Interest Rates are Driving Investors Out of Cash
  • Figure 1.29. Low Short-Term Interest Rates are Driving Investors Out of Cash (Markdown version)
  • Figure 1.29. Low Short-Term Interest Rates are Driving Investors Out of Cash (CSV)
• Figure 1.3. The Crisis Remains in Some Markets as Others Return to Stability
  • Figure 1.3. The Crisis Remains in Some Markets as Others Return to Stability (Markdown version)
  • Figure 1.3. The Crisis Remains in Some Markets as Others Return to Stability (CSV)
• Figure1 30
  • Figure1 30 (Markdown version)
  • Figure1 30 (CSV)
• Figure 1.31. Cumulative Retail Net Flows to Equity and Debt Funds
  • Figure 1.31. Cumulative Retail Net Flows to Equity and Debt Funds (Markdown version)
  • Figure 1.31. Cumulative Retail Net Flows to Equity and Debt Funds (CSV)
• Figure 1.32. Refinancing Needs for Emerging Market and Other Advanced Economies Remain Significant
  • Figure 1.32. Refinancing Needs for Emerging Market and Other Advanced Economies Remain Significant (Markdown version)
  • Figure 1.32. Refinancing Needs for Emerging Market and Other Advanced Economies Remain Significant (CSV)
• Figure 1.33. Emerging Market Real Equity Prices: Historical Corrections
  • Figure 1.33. Emerging Market Real Equity Prices: Historical Corrections (Markdown version)
  • Figure 1.33. Emerging Market Real Equity Prices: Historical Corrections (CSV)
• figure1_34
  • figure1_34 (Markdown version)
  • figure1_34 (CSV)
• Figure1 35
  • Figure1 35 (Markdown version)
  • Figure1 35 (CSV)
• Figure 1.36. All Risks to Global Financial Stability and its Underlying Conditions Have Improved
  • Figure 1.36. All Risks to Global Financial Stability and its Underlying Conditions Have Improved (Markdown version)
  • Figure 1.36. All Risks to Global Financial Stability and its Underlying Conditions Have Improved (CSV)
• Figure 1.37. Evolution of the Global Financial Stability Map 2007-09
  • Figure 1.37. Evolution of the Global Financial Stability Map 2007-09 (Markdown version)
  • Figure 1.37. Evolution of the Global Financial Stability Map 2007-09 (CSV)
• Figure 1.38. Net Notional CDS Outstanding as a Share of Total Government Debt
  • Figure 1.38. Net Notional CDS Outstanding as a Share of Total Government Debt (Markdown version)
  • Figure 1.38. Net Notional CDS Outstanding as a Share of Total Government Debt (CSV)
• Figure 1.39. Correlation of Daily Changes in Five-Year Greek CDS and Bond Yield Spreads
  • Figure 1.39. Correlation of Daily Changes in Five-Year Greek CDS and Bond Yield Spreads (Markdown version)
  • Figure 1.39. Correlation of Daily Changes in Five-Year Greek CDS and Bond Yield Spreads (CSV)
• Figure 1.4. Sovereign Debt to GDP in the G-7
  • Figure 1.4. Sovereign Debt to GDP in the G-7 (Markdown version)
  • Figure 1.4. Sovereign Debt to GDP in the G-7 (CSV)
• Figure 1.40. Sovereign CDS Volume, January 2009 to January 2010
  • Figure 1.40. Sovereign CDS Volume, January 2009 to January 2010 (Markdown version)
  • Figure 1.40. Sovereign CDS Volume, January 2009 to January 2010 (CSV)
• Figure 1.41. Spain: Nonperforming Loans
  • Figure 1.41. Spain: Nonperforming Loans (Markdown version)
  • Figure 1.41. Spain: Nonperforming Loans (CSV)
• Figure 1.42. Spain: Real Asset Repossessions
  • Figure 1.42. Spain: Real Asset Repossessions (Markdown version)
  • Figure 1.42. Spain: Real Asset Repossessions (CSV)
• Figure 1.43. Germany: Loan Loss Rates
  • Figure 1.43. Germany: Loan Loss Rates (Markdown version)
  • Figure 1.43. Germany: Loan Loss Rates (CSV)
• Figure 1.44. Germany: Loan Losses
  • Figure 1.44. Germany: Loan Losses (Markdown version)
  • Figure 1.44. Germany: Loan Losses (CSV)
• Figure 1.46. Argentina - NPLs as a Share of Total Loans
  • Figure 1.46. Argentina - NPLs as a Share of Total Loans (Markdown version)
  • Figure 1.46. Argentina - NPLs as a Share of Total Loans (CSV)
• Figure 1.46. Turkey - NPLs as a Share of Total Loans
  • Figure 1.46. Turkey - NPLs as a Share of Total Loans (Markdown version)
  • Figure 1.46. Turkey - NPLs as a Share of Total Loans (CSV)
• Figure 1.47. Impulse Response Functions, Model 1
  • Figure 1.47. Impulse Response Functions, Model 1 (Markdown version)
  • Figure 1.47. Impulse Response Functions, Model 1 (CSV)
• Figure 1.48. Impulse Response Functions, Model 2
  • Figure 1.48. Impulse Response Functions, Model 2 (Markdown version)
  • Figure 1.48. Impulse Response Functions, Model 2 (CSV)
• Figure 1.49. Change in Nonperforming Loan Ratio During 2009
  • Figure 1.49. Change in Nonperforming Loan Ratio During 2009 (Markdown version)
  • Figure 1.49. Change in Nonperforming Loan Ratio During 2009 (CSV)
• figure1_5
  • figure1_5 (Markdown version)
  • figure1_5 (CSV)
• Figure 1.50. Contributions to Change in Local Government Yields
  • Figure 1.50. Contributions to Change in Local Government Yields (Markdown version)
  • Figure 1.50. Contributions to Change in Local Government Yields (CSV)
• Figure 1.51. Group 1: Local Government Actual and Model Yields
  • Figure 1.51. Group 1: Local Government Actual and Model Yields (Markdown version)
  • Figure 1.51. Group 1: Local Government Actual and Model Yields (CSV)
• Figure 1.52. Fiscal Conditions
  • Figure 1.52. Fiscal Conditions (Markdown version)
  • Figure 1.52. Fiscal Conditions (CSV)
• Figure 1.6. Contributions to Five-Year Sovereign CDS Spreads
  • Figure 1.6. Contributions to Five-Year Sovereign CDS Spreads (Markdown version)
  • Figure 1.6. Contributions to Five-Year Sovereign CDS Spreads (CSV)
• figure1_7
  • figure1_7 (Markdown version)
  • figure1_7 (CSV)
• Figure 1.8. Sovereign Credit Default Swap Curve Slopes
  • Figure 1.8. Sovereign Credit Default Swap Curve Slopes (Markdown version)
  • Figure 1.8. Sovereign Credit Default Swap Curve Slopes (CSV)
• Figure 1.9. Sovereign Risk Spilling over to Local Financial CDS, October 2009 to February 2010
  • Figure 1.9. Sovereign Risk Spilling over to Local Financial CDS, October 2009 to February 2010 (Markdown version)
  • Figure 1.9. Sovereign Risk Spilling over to Local Financial CDS, October 2009 to February 2010 (CSV)
• Table 1.1. Sovereign Market and Vulnerability Indicators
  • Table 1.1. Sovereign Market and Vulnerability Indicators (Markdown version)
  • Table 1.1. Sovereign Market and Vulnerability Indicators (CSV)
• Table 1.10. Ten Largest Sovereign Credit Default Swap Referenced Countries
  • Table 1.10. Ten Largest Sovereign Credit Default Swap Referenced Countries (Markdown version)
  • Table 1.10. Ten Largest Sovereign Credit Default Swap Referenced Countries (CSV)
• Table 1.11. Spain: Baseline and Adverse-Case Scenarios
  • Table 1.11. Spain: Baseline and Adverse-Case Scenarios (Markdown version)
  • Table 1.11. Spain: Baseline and Adverse-Case Scenarios (CSV)
• Table 1.12. Spain: Calculations of Cutoff Rates for Banks with Drain on Capital
  • Table 1.12. Spain: Calculations of Cutoff Rates for Banks with Drain on Capital (Markdown version)
  • Table 1.12. Spain: Calculations of Cutoff Rates for Banks with Drain on Capital (CSV)
• Table 1.13. Estimates of German Bank Writedowns by Sector, 2007-10
  • Table 1.13. Estimates of German Bank Writedowns by Sector, 2007-10 (Markdown version)
  • Table 1.13. Estimates of German Bank Writedowns by Sector, 2007-10 (CSV)
• Table 1.14. Germany: Bank Capital, Earnings, and Writedowns
  • Table 1.14. Germany: Bank Capital, Earnings, and Writedowns (Markdown version)
  • Table 1.14. Germany: Bank Capital, Earnings, and Writedowns (CSV)
• Table 1.2. Estimates of Global Bank Writedowns by Domicile, 2007-10
  • Table 1.2. Estimates of Global Bank Writedowns by Domicile, 2007-10 (Markdown version)
  • Table 1.2. Estimates of Global Bank Writedowns by Domicile, 2007-10 (CSV)
• Table 1.3. Aggregate Bank Writedowns and Capital
  • Table 1.3. Aggregate Bank Writedowns and Capital (Markdown version)
  • Table 1.3. Aggregate Bank Writedowns and Capital (CSV)
• Table 1.4. United States: Bank Writedowns and Capital
  • Table 1.4. United States: Bank Writedowns and Capital (Markdown version)
  • Table 1.4. United States: Bank Writedowns and Capital (CSV)
• Table 1.5. Spain: Bank Writedowns and Capital
  • Table 1.5. Spain: Bank Writedowns and Capital (Markdown version)
  • Table 1.5. Spain: Bank Writedowns and Capital (CSV)
• Table 1.6. Germany: Bank Writedowns and Capital
  • Table 1.6. Germany: Bank Writedowns and Capital (Markdown version)
  • Table 1.6. Germany: Bank Writedowns and Capital (CSV)
• Table 1.7. Projections of Credit Capacity for and Demand from the Nonfinancial Sector
  • Table 1.7. Projections of Credit Capacity for and Demand from the Nonfinancial Sector (Markdown version)
  • Table 1.7. Projections of Credit Capacity for and Demand from the Nonfinancial Sector (CSV)
• Table 1.8. Asset Class Valuations
  • Table 1.8. Asset Class Valuations (Markdown version)
  • Table 1.8. Asset Class Valuations (CSV)
• Table 1.9. Global Financial Stability Map Indicators
  • Table 1.9. Global Financial Stability Map Indicators (Markdown version)
  • Table 1.9. Global Financial Stability Map Indicators (CSV)
• figure3_1 — Dataset overview
  • figure3_1 — Dataset overview (Markdown version)
  • figure3_1 — Dataset overview (CSV)
• Figure 3.2. Outstanding Credit Default Swaps in the DTCC Data Warehouse
  • Figure 3.2. Outstanding Credit Default Swaps in the DTCC Data Warehouse (Markdown version)
  • Figure 3.2. Outstanding Credit Default Swaps in the DTCC Data Warehouse (CSV)
• Figure 3.3. Derivative Payables plus Posted Cash Collateral
  • Figure 3.3. Derivative Payables plus Posted Cash Collateral (Markdown version)
  • Figure 3.3. Derivative Payables plus Posted Cash Collateral (CSV)
• Figure 4.1. Global Liquidity
  • Figure 4.1. Global Liquidity (Markdown version)
  • Figure 4.1. Global Liquidity (CSV)
• Figure 4.2. Change of Central Bank Policy Rates
  • Figure 4.2. Change of Central Bank Policy Rates (Markdown version)
  • Figure 4.2. Change of Central Bank Policy Rates (CSV)
• Figure 4.3. Liquidity-Receiving Economies: Composition of Capital Inflows
  • Figure 4.3. Liquidity-Receiving Economies: Composition of Capital Inflows (Markdown version)
  • Figure 4.3. Liquidity-Receiving Economies: Composition of Capital Inflows (CSV)
• figure4_4 — Emerging Markets Equity Indices
  • figure4_4 — Emerging Markets Equity Indices (Markdown version)
  • figure4_4 — Emerging Markets Equity Indices (CSV)
• Figure 1. Major Net Exporters and Importers of Capital in 2009
  • Figure 1. Major Net Exporters and Importers of Capital in 2009 (Markdown version)
  • Figure 1. Major Net Exporters and Importers of Capital in 2009 (CSV)
• Figure 10. Flows into U.S.-Based Equity Funds
  • Figure 10. Flows into U.S.-Based Equity Funds (Markdown version)
  • Figure 10. Flows into U.S.-Based Equity Funds (CSV)
• Figure 11. United States: Corporate Bond Market
  • Figure 11. United States: Corporate Bond Market (Markdown version)
  • Figure 11. United States: Corporate Bond Market (CSV)
• Figure 12. Europe: Corporate Bond Market
  • Figure 12. Europe: Corporate Bond Market (Markdown version)
  • Figure 12. Europe: Corporate Bond Market (CSV)
• Figure 13. United States: Commercial Paper Market
  • Figure 13. United States: Commercial Paper Market (Markdown version)
  • Figure 13. United States: Commercial Paper Market (CSV)
• Figure 14. United States: Asset-Backed Securities
  • Figure 14. United States: Asset-Backed Securities (Markdown version)
  • Figure 14. United States: Asset-Backed Securities (CSV)
• Figure 15. Emerging Market Volatility Measures
  • Figure 15. Emerging Market Volatility Measures (Markdown version)
  • Figure 15. Emerging Market Volatility Measures (CSV)
• Figure 16. Emerging Market Debt Cross-Correlation Measures
  • Figure 16. Emerging Market Debt Cross-Correlation Measures (Markdown version)
  • Figure 16. Emerging Market Debt Cross-Correlation Measures (CSV)
• Figure 2. Exchange Rates: Selected Major Industrial Countries
  • Figure 2. Exchange Rates: Selected Major Industrial Countries (Markdown version)
  • Figure 2. Exchange Rates: Selected Major Industrial Countries (CSV)
• Figure 3. United States: Yields on Corporate and Treasury Bonds
  • Figure 3. United States: Yields on Corporate and Treasury Bonds (Markdown version)
  • Figure 3. United States: Yields on Corporate and Treasury Bonds (CSV)
• Figure 4. Selected Spreads
  • Figure 4. Selected Spreads (Markdown version)
  • Figure 4. Selected Spreads (CSV)
• Figure 5. Nonfinancial Corporate Credit Spreads
  • Figure 5. Nonfinancial Corporate Credit Spreads (Markdown version)
  • Figure 5. Nonfinancial Corporate Credit Spreads (CSV)
• Figure 6. Equity Markets: Price Indices
  • Figure 6. Equity Markets: Price Indices (Markdown version)
  • Figure 6. Equity Markets: Price Indices (CSV)
• Figure 7. Implied and Historical Volatility in Equity Markets
  • Figure 7. Implied and Historical Volatility in Equity Markets (Markdown version)
  • Figure 7. Implied and Historical Volatility in Equity Markets (CSV)
• Figure 8. Historical Volatility of Government Bond Yields and Bond Returns for Selected Countries
  • Figure 8. Historical Volatility of Government Bond Yields and Bond Returns for Selected Countries (Markdown version)
  • Figure 8. Historical Volatility of Government Bond Yields and Bond Returns for Selected Countries (CSV)
• sa_figure9 — Dataset overview
  • sa_figure9 — Dataset overview (Markdown version)
  • sa_figure9 — Dataset overview (CSV)
• Table 1. Global Financial Flows: Inflows and Outflows
  • Table 1. Global Financial Flows: Inflows and Outflows (Markdown version)
  • Table 1. Global Financial Flows: Inflows and Outflows (CSV)
• Table 10. Equity Market Indices
  • Table 10. Equity Market Indices (Markdown version)
  • Table 10. Equity Market Indices (CSV)
• Table 11. Foreign Exchange Rates
  • Table 11. Foreign Exchange Rates (Markdown version)
  • Table 11. Foreign Exchange Rates (CSV)
• Table 12. Emerging Market Bond Index: EMBI Global Total Returns Index
  • Table 12. Emerging Market Bond Index: EMBI Global Total Returns Index (Markdown version)
  • Table 12. Emerging Market Bond Index: EMBI Global Total Returns Index (CSV)
• Table 13. Emerging Market Bond Index: EMBI Global Yield Spreads
  • Table 13. Emerging Market Bond Index: EMBI Global Yield Spreads (Markdown version)
  • Table 13. Emerging Market Bond Index: EMBI Global Yield Spreads (CSV)
• Table 14. Emerging Market External Financing: Total Bonds, Equities, and Loans
  • Table 14. Emerging Market External Financing: Total Bonds, Equities, and Loans (Markdown version)
  • Table 14. Emerging Market External Financing: Total Bonds, Equities, and Loans (CSV)
• Table 15. Emerging Market External Financing: Bond Issuance
  • Table 15. Emerging Market External Financing: Bond Issuance (Markdown version)
  • Table 15. Emerging Market External Financing: Bond Issuance (CSV)
• Table 16. Emerging Market External Finance: Equity Issuance
  • Table 16. Emerging Market External Finance: Equity Issuance (Markdown version)
  • Table 16. Emerging Market External Finance: Equity Issuance (CSV)
• Sa Table17
  • Sa Table17 (Markdown version)
  • Sa Table17 (CSV)
• Table 18. Equity Valuation Measures: Dividend-Yield Ratios
  • Table 18. Equity Valuation Measures: Dividend-Yield Ratios (Markdown version)
  • Table 18. Equity Valuation Measures: Dividend-Yield Ratios (CSV)
• Table 19. Equity Valuation Measures: Price-to-Book Ratios
  • Table 19. Equity Valuation Measures: Price-to-Book Ratios (Markdown version)
  • Table 19. Equity Valuation Measures: Price-to-Book Ratios (CSV)
• Sa Table2
  • Sa Table2 (Markdown version)
  • Sa Table2 (CSV)
• Table 20. Equity Valuation Measures: Price/Earnings Ratios
  • Table 20. Equity Valuation Measures: Price/Earnings Ratios (Markdown version)
  • Table 20. Equity Valuation Measures: Price/Earnings Ratios (CSV)
• Table 21. Emerging Markets: Mutual Fund Flows
  • Table 21. Emerging Markets: Mutual Fund Flows (Markdown version)
  • Table 21. Emerging Markets: Mutual Fund Flows (CSV)
• Table 22. Bank Regulatory Capital to Risk-Weighted Assets
  • Table 22. Bank Regulatory Capital to Risk-Weighted Assets (Markdown version)
  • Table 22. Bank Regulatory Capital to Risk-Weighted Assets (CSV)
• Table 23. Bank Capital to Assets
  • Table 23. Bank Capital to Assets (Markdown version)
  • Table 23. Bank Capital to Assets (CSV)
• Dataset overview: Table 24. Bank Nonperforming Loans to Total Loans
  • Dataset overview: Table 24. Bank Nonperforming Loans to Total Loans (Markdown version)
  • Dataset overview: Table 24. Bank Nonperforming Loans to Total Loans (CSV)
• Table 25. Bank Provisions to Nonperforming Loans
  • Table 25. Bank Provisions to Nonperforming Loans (Markdown version)
  • Table 25. Bank Provisions to Nonperforming Loans (CSV)
• Table 26. Bank Return on Assets
  • Table 26. Bank Return on Assets (Markdown version)
  • Table 26. Bank Return on Assets (CSV)
• Table 27. Bank Return on Equity
  • Table 27. Bank Return on Equity (Markdown version)
  • Table 27. Bank Return on Equity (CSV)
• Table 3. Selected Indicators on the Size of the Capital Markets, 2008
  • Table 3. Selected Indicators on the Size of the Capital Markets, 2008 (Markdown version)
  • Table 3. Selected Indicators on the Size of the Capital Markets, 2008 (CSV)
• Sa Table4
  • Sa Table4 (Markdown version)
  • Sa Table4 (CSV)
• Dataset overview
  • Dataset overview (Markdown version)
  • Dataset overview (CSV)
• Sa Table6
  • Sa Table6 (Markdown version)
  • Sa Table6 (CSV)
• Table 7. United States: Sectoral Balance Sheets
  • Table 7. United States: Sectoral Balance Sheets (Markdown version)
  • Table 7. United States: Sectoral Balance Sheets (CSV)
• Table 8. Japan: Sectoral Balance Sheets1
  • Table 8. Japan: Sectoral Balance Sheets1 (Markdown version)
  • Table 8. Japan: Sectoral Balance Sheets1 (CSV)
• Table 9. Europe: Sectoral Balance Sheets
  • Table 9. Europe: Sectoral Balance Sheets (Markdown version)
  • Table 9. Europe: Sectoral Balance Sheets (CSV)
• موجز للصحافة للفصول1 و 2 و 3 و 4 للتقرير الاستقرار المالي العالمي
  • موجز للصحافة للفصول1 و 2 و 3 و 4 للتقرير الاستقرار المالي العالمي (Markdown version)
  • موجز للصحافة للفصول1 و 2 و 3 و 4 للتقرير الاستقرار المالي العالمي (PDF)
• ملخص واف عن التقرير الاستقرار المالي العالمي
  • ملخص واف عن التقرير الاستقرار المالي العالمي (Markdown version)
  • ملخص واف عن التقرير الاستقرار المالي العالمي (PDF)
• 2010 年4 月期《全球金融稳定报告》第一,二, 三, 四章新闻发布要点
  • 2010 年4 月期《全球金融稳定报告》第一,二, 三, 四章新闻发布要点 (Markdown version)
  • 2010 年4 月期《全球金融稳定报告》第一,二, 三, 四章新闻发布要点 (PDF)
• 2010 年4 月期《全球金融稳定报告》概要
  • 2010 年4 月期《全球金融稳定报告》概要 (Markdown version)
  • 2010 年4 月期《全球金融稳定报告》概要 (PDF)
• Section 1
  • Section 1 (Markdown version)
  • Section 1 (PDF)
• Rapport sur la stabilité financière dans le monde : Résumé analytique
  • Rapport sur la stabilité financière dans le monde : Résumé analytique (Markdown version)
  • Rapport sur la stabilité financière dans le monde : Résumé analytique (PDF)
• 国際金融安定性報告書（GFSR) 2010 年 4 月 -- 第 1,2, 3, 4 章要点
  • 国際金融安定性報告書（GFSR) 2010 年 4 月 -- 第 1,2, 3, 4 章要点 (Markdown version)
  • 国際金融安定性報告書（GFSR) 2010 年 4 月 -- 第 1,2, 3, 4 章要点 (PDF)
• 国際金融安定性報告書（GFSR), 2010年4月: 要旨
  • 国際金融安定性報告書（GFSR), 2010年4月: 要旨 (Markdown version)
  • 国際金融安定性報告書（GFSR), 2010年4月: 要旨 (PDF)
• Figure 3_1
  • Figure 3_1 (Markdown version)
  • Figure 3_1 (PDF)
• figure 3_2
  • figure 3_2 (Markdown version)
  • figure 3_2 (PDF)
• figure 3_3
  • figure 3_3 (Markdown version)
  • figure 3_3 (PDF)
• figure 4_1
  • figure 4_1 (Markdown version)
  • figure 4_1 (PDF)
• figure 4_2
  • figure 4_2 (Markdown version)
  • figure 4_2 (PDF)
• figure 4_3
  • figure 4_3 (Markdown version)
  • figure 4_3 (PDF)
• figure 4_4
  • figure 4_4 (Markdown version)
  • figure 4_4 (PDF)
• Annex 1.10. Euro Zone Sovereign Spreads: Global Risk Aversion, Spillovers or Fundamentals?
  • Annex 1.10. Euro Zone Sovereign Spreads: Global Risk Aversion, Spillovers or Fundamentals? (Markdown version)
  • Annex 1.10. Euro Zone Sovereign Spreads: Global Risk Aversion, Spillovers or Fundamentals? (PDF)
• Ch1annex6pdf
  • Ch1annex6pdf (Markdown version)
  • Ch1annex6pdf (PDF)
• Annex 1.7. Credit Demand and Capacity Estimates in the United States, Euro Area, and United Kingdom
  • Annex 1.7. Credit Demand and Capacity Estimates in the United States, Euro Area, and United Kingdom (Markdown version)
  • Annex 1.7. Credit Demand and Capacity Estimates in the United States, Euro Area, and United Kingdom (PDF)
• GFSR April 2010 -- Chapter 1, Annex 1.8. The Effects of Large-Scale Asset Purchase Programs
  • GFSR April 2010 -- Chapter 1, Annex 1.8. The Effects of Large-Scale Asset Purchase Programs (Markdown version)
  • GFSR April 2010 -- Chapter 1, Annex 1.8. The Effects of Large-Scale Asset Purchase Programs (PDF)
• GFSR April 2010: Chapter 1, Annex 1.9. Methodologies Underlying Assessment of Bubble Risks
  • GFSR April 2010: Chapter 1, Annex 1.9. Methodologies Underlying Assessment of Bubble Risks (Markdown version)
  • GFSR April 2010: Chapter 1, Annex 1.9. Methodologies Underlying Assessment of Bubble Risks (PDF)
• CHAPTER 1 — Sovereign risk dynamics, banking-system repair, and market conditions
  • CHAPTER 1 — Sovereign risk dynamics, banking-system repair, and market conditions (Markdown version)
  • CHAPTER 1 — Sovereign risk dynamics, banking-system repair, and market conditions (PDF)
• Chap2pdf
  • Chap2pdf (Markdown version)
  • Chap2pdf (PDF)
• _chap3pdf - Chapter 2 discussed a potential systemic-based capital
  • _chap3pdf - Chapter 2 discussed a potential systemic-based capital (Markdown version)
  • _chap3pdf - Chapter 2 discussed a potential systemic-based capital (PDF)
• chapter 4 global lIquIdIty expansIon: eFFects on “receIvIng” econoMIes and polIcy response optIons
  • chapter 4 global lIquIdIty expansIon: eFFects on “receIvIng” econoMIes and polIcy response optIons (Markdown version)
  • chapter 4 global lIquIdIty expansIon: eFFects on “receIvIng” econoMIes and polIcy response optIons (PDF)
• Global Financial Stability Report
  • Global Financial Stability Report (Markdown version)
  • Global Financial Stability Report (PDF)
• Global Financial Stability Report
  • Global Financial Stability Report (Markdown version)
  • Global Financial Stability Report (PDF)
• Press1pdf
  • Press1pdf (Markdown version)
  • Press1pdf (PDF)
• Press Points for Chapter 2
  • Press Points for Chapter 2 (Markdown version)
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• Press Points for Chapter 3: Making OTC Derivatives Safer: The Role of Central Counterparties
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  • Press Points for Chapter 3: Making OTC Derivatives Safer: The Role of Central Counterparties (PDF)
• Press4pdf
  • Press4pdf (Markdown version)
  • Press4pdf (PDF)
• Global Financial Stability Report
  • Global Financial Stability Report (Markdown version)
  • Global Financial Stability Report (PDF)
• Statistical Appendix -- Global Financial Stability Report
  • Statistical Appendix -- Global Financial Stability Report (Markdown version)
  • Statistical Appendix -- Global Financial Stability Report (PDF)
• Global Financial Stability Report
  • Global Financial Stability Report (Markdown version)
  • Global Financial Stability Report (PDF)
• _textpdf
  • _textpdf (Markdown version)
  • _textpdf (PDF)
• STAT_APP_Figure10
  • STAT_APP_Figure10 (Markdown version)
  • STAT_APP_Figure10 (PDF)
• STAT_APP_Figure11
  • STAT_APP_Figure11 (Markdown version)
  • STAT_APP_Figure11 (PDF)
• STAT_APP_Figure12
  • STAT_APP_Figure12 (Markdown version)
  • STAT_APP_Figure12 (PDF)
• STAT_APP_Figure13
  • STAT_APP_Figure13 (Markdown version)
  • STAT_APP_Figure13 (PDF)
• STAT_APP_Figure14
  • STAT_APP_Figure14 (Markdown version)
  • STAT_APP_Figure14 (PDF)
• STAT_APP_Figure15
  • STAT_APP_Figure15 (Markdown version)
  • STAT_APP_Figure15 (PDF)
• STAT_APP_Figure16
  • STAT_APP_Figure16 (Markdown version)
  • STAT_APP_Figure16 (PDF)
• Figure 1. Major Net Exporters and Importers of Capital in 2009
  • Figure 1. Major Net Exporters and Importers of Capital in 2009 (Markdown version)
  • Figure 1. Major Net Exporters and Importers of Capital in 2009 (PDF)
• STAT_APP_Figure2
  • STAT_APP_Figure2 (Markdown version)
  • STAT_APP_Figure2 (PDF)
• STAT_APP_Figure3
  • STAT_APP_Figure3 (Markdown version)
  • STAT_APP_Figure3 (PDF)
• STAT_APP_Figure4
  • STAT_APP_Figure4 (Markdown version)
  • STAT_APP_Figure4 (PDF)
• STAT_APP_Figure5
  • STAT_APP_Figure5 (Markdown version)
  • STAT_APP_Figure5 (PDF)
• STAT_APP_Figure6
  • STAT_APP_Figure6 (Markdown version)
  • STAT_APP_Figure6 (PDF)
• STAT_APP_Figure7
  • STAT_APP_Figure7 (Markdown version)
  • STAT_APP_Figure7 (PDF)
• STAT_APP_Figure8
  • STAT_APP_Figure8 (Markdown version)
  • STAT_APP_Figure8 (PDF)
• STAT_APP_Figure9
  • STAT_APP_Figure9 (Markdown version)
  • STAT_APP_Figure9 (PDF)
• Foreword
  • Foreword (Markdown version)
  • Foreword (PDF)
• «Доклад по вопросам глобальной финансовой стабильности»
  • «Доклад по вопросам глобальной финансовой стабильности» (Markdown version)
  • «Доклад по вопросам глобальной финансовой стабильности» (PDF)
• Доклад по вопросам глобальной финансовой стабильности; апрель 2010 года -- Аналитическое резюме
  • Доклад по вопросам глобальной финансовой стабильности; апрель 2010 года -- Аналитическое резюме (Markdown version)
  • Доклад по вопросам глобальной финансовой стабильности; апрель 2010 года -- Аналитическое резюме (PDF)
• _pressspdf - Section 1
  • _pressspdf - Section 1 (Markdown version)
  • _pressspdf - Section 1 (PDF)
• Informe sobre la Estabilidad Financiera Mundial – Abril de 2010 -- Resumen General
  • Informe sobre la Estabilidad Financiera Mundial – Abril de 2010 -- Resumen General (Markdown version)
  • Informe sobre la Estabilidad Financiera Mundial – Abril de 2010 -- Resumen General (PDF)

References

• Transcript of GFSR press briefing, April 20, 2010
• Transcript of GFSR press briefing, April 13, 2010
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