IMF Global Financial Stability Report (GFSR) -- Sovereigns, Funding, and Systemic Liquidity; October 2010 -- Contents

Global Financial Stability Report, October 29, 2010

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IMF Global Financial Stability Report (GFSR) -- Sovereigns, Funding, and Systemic Liquidity; October 2010 -- Contents

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Bibliographic details

• Published: October 29, 2010
• Series: Global Financial Stability Report

Overview

• October 2010: "The global financial system is still in a period of significant uncertainty and remains the Achilles' heel of the economic recovery."
• Progress toward financial stability experienced a setback since the April 2010 GFSR.
• The report:
  • highlights how risks have changed over the last six months,
  • traces the sources and channels of financial distress with an emphasis on sovereign risk,
  • provides a discussion of policy proposals under consideration to mend the global financial system.
• Related multimedia:
  • Videos: "IMF Says Global Financial Stability Better with Remaining Risks; Jose Vinals, Financial Counsellor, IMF" (Spanish version) — October 5, 2010
  • "IMF on Systemic Liquidity Risks; Jeanne Gobat, IMF MCM Department" — September 29, 2010
  • "IMF on Credit Ratings Agencies; John Kiff, IMF MCM Department"
  • Webcast of GFSR press briefing, September 29, 2010 — Transcript available
• Sign-up: Email notification sign-up for new series and/or country items.
• Note on terminology: On this site, the term "country" does not in all cases refer to a territorial entity that is a state as understood by international law and practice.

Executive materials and downloads

• Download the Full Text (6,2 kb)
• Executive Summary (1000 Kb pdf file)
• Preface (376kb pdf file)
• Glossary (277KB pdf file)
• Statistical Appendix (1,6KB pdf file)
• Annex: Summing Up by the Acting Chair

Chapter I — Economic Uncertainty, Sovereign Risk, and Financial Fragilities

• Available items: Full Text | Video | Boxes | Figures | Tables | Press Points
• Sections:
  • A. What Is the Outlook for Global Financial Stability?
  • B. Sovereign Risks and Financial Fragilities
  • C. Sovereign and Banking System Spillovers
  • D. Managing Upside Risks to Emerging Markets
  • E. Policy Priorities
• Annexes:
  • Annex 1.1. Impact of Adverse Growth Shock on Advanced Economy Debt Ratios
  • Annex 1.2. Systemic Contingent Claims Analysis of Banking and Sovereign Risk
  • Annex 1.3. Analyzing Portfolio Inflows to Emerging Markets and Other Advanced Markets
  • Annex 1.4. Asia’s Local Currency Corporate Bond Market—A New Spare Tire
  • Annex 1.5. Where Now for Fannie and Freddie? A Review of the Options
• References

Chapter II — Systemic Liquidity Risk: Improving the Resilience of Institutions and Markets

• Available items: Full Text | Video | Boxes | Figures | Press Points
• Sections:
  • Summary
  • Review of the Systemic Liquidity Shock through Various Short-Term Funding Markets
  • Funding Markets as Propagation Channels of Systemic Liquidity Risk
  • Policies to Strengthen the Resilience of Funding Markets
  • Policies to Strengthen Prudential Liquidity Regulations for Institutions
  • Outstanding Policy Issues in Addressing Systemic Liquidity Risk
  • Conclusions and Policy Considerations

Chapter III — The Uses and Abuses of Sovereign Credit Ratings

• Sections:
  • Basic Rating Definitions and Principles
  • The Evolving Roles and Regulation of Credit Ratings and Credit Rating Agencies
  • Fundamental Sovereign Credit Risk Analysis
  • The Accuracy and Informational Value of Sovereign Ratings
  • Conclusions and Policy Implications
• Annex 3.1. Credit Rating Agencies around the World

Key findings, risks, and policy priorities (as presented)

• Short-term: "Short-Term Uncertainty Has Fallen, but Uncertainty Remains High in the Medium Term"
• Sovereign risk: emphasized as a key channel of financial distress and source of spillovers to banking systems.
• Policy priorities and considerations span:
  • Managing sovereign–bank spillovers,
  • Strengthening funding-market resilience and prudential liquidity regulations,
  • Addressing credit rating agency roles, accuracy, and regulation.
• Specific thematic boxes and analysis touching on risks and policy:
  • Japan: Risk of Sovereign Interest Rate Shock
  • Risk Transmission between Sovereigns and Banks in Europe
  • Risks of a Double Dip in the U.S. Real Estate Markets
  • China’s Banking System: Managing Challenges after Credit Expansion
  • Brazil's Tax on Capital Inflows, 2009–10
  • Macroeconomic Costs of Regulatory Measures
  • Key Findings of the U.S. Financial Sector Assessment Program
  • Calibrating a Sovereign Risk-Adjusted Contingent Claims Analysis Balance Sheet
  • Role of Money Markets
  • Disruptions to Cross-Border Funding and Foreign Exchange Swaps
  • The Repo Markets: A Primer
  • What Went Wrong in Financial Firms' Liquidity Risk Management Practices?
  • Repo Infrastructure: Trading, Clearing, and Settlement

Data, figures, and tables (selection of report contents)

• Figures and charts include (selected):
  • Global Financial Stability Map
  • Global Financial Stability Map: Assessment of Risks and Conditions
  • Markets Heat Map
  • Spillovers from the Sovereign to the Banks and Banks to Sovereigns
  • Ten-Year Sovereign Swap Spreads
  • Impact of a –1 Percent Growth Shock from Wiorld Economic Outlook Baseline, 2010–15
  • Sovereign Gross Funding Requirements
  • Custodial Bond Flows, 2007–June 2010
  • Developments in Sovereign Credit Default Swap Spreads
  • Bank Writedowns or Loss Provisions by Region
  • Capital Raised by Banks and Tier 1 Ratios
  • Banking Sector Credit Default Swap Spreads
  • U.S. Dollar Th ree-Month Forward–Overnight Index Swap Spreads and Basis Swaps
  • Bank Bond Maturity Profile
  • Bank Debt Maturing as a Percentage of Total Outstanding
  • Euro Area: Bank Cumulative Net Issuance
  • Reliance on Wholesale Funding
  • European Central Bank Lending to Euro Area Monetary Financial Institutions
  • Mature Market Credit Default Swap Spreads
  • Lending Conditions; Bank Lending to Private Sector
  • Bank for International Settlements Cross-Border Bank Flows by Region
  • Cumulative Bank of New York Mellon iFlowSM Infl ows to Advanced and Emerging Economies
  • Outstanding Local Currency Corporate Bonds; Local Currency Government and Corporate Bond Issuance

• Tables and statistical indicators include (selected):
  • Sovereign Market and Vulnerability Indicators
  • Low-Growth Shock: Impact Analysis and Ranking
  • Typical Haircut on Term Securities Financing Transactions
  • Long-Term Senior Debt Rating Symbols
  • Rating Agency Statements on What Their Ratings Are Designed to Measure
  • Key Factors in Sovereign Credit Rating Assessments
  • Sovereign Rating “Failures” during 1997–98 Asian Crisis
  • Sovereign Rating “Failures” during the 2008—10 Crisis
  • Ratings of AAA-Rated U.S. Mortgage-Related Securities
  • Sovereign Rating and Outlook Changes
  • Moody’s Sovereign Rating and Outlook Changes by Selected Regions, May 2007–June 2010
  • Rating Drivers, May 2007–June 2010
  • Average Credit Default Swap Spread and Ratings for Countries Rated by Moody’s, 2005–10
  • Impact of Change in Sovereign Ratings and Credit Warnings on Credit Default Swap Spread
  • Ratings One Year Prior to Sovereign Default, 1975–2009
  • Sovereign Rating Performance by Standard & Poor’s
  • Average Proportion of S&P Sovereign Ratings Unchanged Over One Year
  • Average Proportion of S&P Sovereign Ratings Downgraded More Than Two Notches Over One Year

Statistical Appendix (selected contents)

• Key Financial Centers: Figures | Tables
• Emerging Markets: Figures | Tables
• Financial Soundness Indicators: Tables
• Statistical Appendix tables include numbered series (examples):
  • 1. Major Net Exporters and Importers of Capital in 2009
  • 2. Exchange Rates: Selected Major Industrial Countries
  • 3. United States: Yields on Corporate and Treasury Bonds
  • ...
  • 14. United States: Asset-Backed Securities
  • Global Capital Flows: Inflows and Outflows
  • Emerging Market External Financing: Total Bonds, Equities, and Loans
  • Financial Soundness Indicators including:
  • 22. Bank Regulatory Capital to Risk-Weighted Assets
  • 23. Bank Capital to Assets
  • 24. Bank Nonperforming Loans to Total Loans
  • 25. Bank Provisions to Nonperforming Loans
  • 26. Bank Return on Assets
  • 27. Bank Return on Equity

Symbols and conventions used in the volume

• . . . to indicate that data are not available;
• —— to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;
• - between years or months (for example, 1997-99 or January-June) to indicate the years or months covered, including the beginning and ending years or months;
• / between years (for example, 1998/99) to indicate a fiscal or financial year.
• Definitions:
  • "Billion" means a thousand million; "trillion" means a thousand billion.
  • "Basis points" refer to hundredths of 1 percentage point (for example, 25 basis points are equivalent to 1/4 of 1 percentage point).
  • "n.a." means not applicable.
• Note: Minor discrepancies between constituent figures and totals are due to rounding.
• Reiteration of terminology note: As used in this volume the term "country" does not in all cases refer to a territorial entity that is a state as understood by international law and practice.

IMF Global Financial Stability Report (GFSR) -- Sovereigns, Funding, and Systemic Liquidity; October 2010 -- Contents

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. Exports and Fiscal Balance
  • Figure 1.10. Exports and Fiscal Balance (Markdown version)
  • Figure 1.10. Exports and Fiscal Balance (CSV)
• Figure 1.11. Development in Sovereign Credit Default Swap Spreads
  • Figure 1.11. Development in Sovereign Credit Default Swap Spreads (Markdown version)
  • Figure 1.11. Development in Sovereign Credit Default Swap Spreads (CSV)
• figure1_12
  • figure1_12 (Markdown version)
  • figure1_12 (CSV)
• Figure 1.13. Capital Raised by Banks and Tier 1 Ratios
  • Figure 1.13. Capital Raised by Banks and Tier 1 Ratios (Markdown version)
  • Figure 1.13. Capital Raised by Banks and Tier 1 Ratios (CSV)
• Figure 1.14. Banking Sector Credit Default Swap Spreads
  • Figure 1.14. Banking Sector Credit Default Swap Spreads (Markdown version)
  • Figure 1.14. Banking Sector Credit Default Swap Spreads (CSV)
• Figure 1.18. Euro Area: Bank Cumulative Net Issuance
  • Figure 1.18. Euro Area: Bank Cumulative Net Issuance (Markdown version)
  • Figure 1.18. Euro Area: Bank Cumulative Net Issuance (CSV)
• Figure 1.19. Reliance on Wholesale Funding
  • Figure 1.19. Reliance on Wholesale Funding (Markdown version)
  • Figure 1.19. Reliance on Wholesale Funding (CSV)
• Figure 1.2. Global Financial Stability Map: Assessment of Risks and Conditions
  • Figure 1.2. Global Financial Stability Map: Assessment of Risks and Conditions (Markdown version)
  • Figure 1.2. Global Financial Stability Map: Assessment of Risks and Conditions (CSV)
• Figure 1.20. European Central Bank Lending to Euro Area Monetary Financial Institutions
  • Figure 1.20. European Central Bank Lending to Euro Area Monetary Financial Institutions (Markdown version)
  • Figure 1.20. European Central Bank Lending to Euro Area Monetary Financial Institutions (CSV)
• Figure 1.22. Bank Lending
  • Figure 1.22. Bank Lending (Markdown version)
  • Figure 1.22. Bank Lending (CSV)
• Figure1 23
  • Figure1 23 (Markdown version)
  • Figure1 23 (CSV)
• Figure 1.24. BIS Cumulative Cross-Border Bank Flows by Country
  • Figure 1.24. BIS Cumulative Cross-Border Bank Flows by Country (Markdown version)
  • Figure 1.24. BIS Cumulative Cross-Border Bank Flows by Country (CSV)
• Figure 1.25. Cross-Border Bank Flows and Local Credit
  • Figure 1.25. Cross-Border Bank Flows and Local Credit (Markdown version)
  • Figure 1.25. Cross-Border Bank Flows and Local Credit (CSV)
• Figure 1.26. Emerging and Advanced Market Returns
  • Figure 1.26. Emerging and Advanced Market Returns (Markdown version)
  • Figure 1.26. Emerging and Advanced Market Returns (CSV)
• figure1_29
  • figure1_29 (Markdown version)
  • figure1_29 (CSV)
• Figure 1.3. Markets Heatmap
  • Figure 1.3. Markets Heatmap (Markdown version)
  • Figure 1.3. Markets Heatmap (CSV)
• Figure 1.30. Equity and Debt Portfolio Inflows
  • Figure 1.30. Equity and Debt Portfolio Inflows (Markdown version)
  • Figure 1.30. Equity and Debt Portfolio Inflows (CSV)
• Figure 1.31. Nominal Effective Exchange Rate Performance
  • Figure 1.31. Nominal Effective Exchange Rate Performance (Markdown version)
  • Figure 1.31. Nominal Effective Exchange Rate Performance (CSV)
• Figure 1.32. Change in Official Reserves
  • Figure 1.32. Change in Official Reserves (Markdown version)
  • Figure 1.32. Change in Official Reserves (CSV)
• Figure 1.33. Sensitivity of Money Supply to Central Bank Foreign Assets
  • Figure 1.33. Sensitivity of Money Supply to Central Bank Foreign Assets (Markdown version)
  • Figure 1.33. Sensitivity of Money Supply to Central Bank Foreign Assets (CSV)
• Figure 1.34. Public Debt, Advanced Countries: Impact of Adverse Growth Shock
  • Figure 1.34. Public Debt, Advanced Countries: Impact of Adverse Growth Shock (Markdown version)
  • Figure 1.34. Public Debt, Advanced Countries: Impact of Adverse Growth Shock (CSV)
• Figure 1.4. Short-Term Uncertaintly Has Fallen, but Remains High in the Medium-Term
  • Figure 1.4. Short-Term Uncertaintly Has Fallen, but Remains High in the Medium-Term (Markdown version)
  • Figure 1.4. Short-Term Uncertaintly Has Fallen, but Remains High in the Medium-Term (CSV)
• Figure 1.41. Outstanding Local Currency Corporate Bonds
  • Figure 1.41. Outstanding Local Currency Corporate Bonds (Markdown version)
  • Figure 1.41. Outstanding Local Currency Corporate Bonds (CSV)
• Figure 1.42. Local Currency Governmetn and Corporate Bond Issuance
  • Figure 1.42. Local Currency Governmetn and Corporate Bond Issuance (Markdown version)
  • Figure 1.42. Local Currency Governmetn and Corporate Bond Issuance (CSV)
• Figure 1.43. Spread Between Prime Rate and Corporate Bond Yield Index
  • Figure 1.43. Spread Between Prime Rate and Corporate Bond Yield Index (Markdown version)
  • Figure 1.43. Spread Between Prime Rate and Corporate Bond Yield Index (CSV)
• Content unit: dataset overview
  • Content unit: dataset overview (Markdown version)
  • Content unit: dataset overview (CSV)
• Figure 1.7. Impact of a Negative 1 Percent Growth Shcok from WEO Baseline, 2010-2015
  • Figure 1.7. Impact of a Negative 1 Percent Growth Shcok from WEO Baseline, 2010-2015 (Markdown version)
  • Figure 1.7. Impact of a Negative 1 Percent Growth Shcok from WEO Baseline, 2010-2015 (CSV)
• Figure 1.8. Sovereign Gross Funding Requirements
  • Figure 1.8. Sovereign Gross Funding Requirements (Markdown version)
  • Figure 1.8. Sovereign Gross Funding Requirements (CSV)
• table1_1 dataset overview
  • table1_1 dataset overview (Markdown version)
  • table1_1 dataset overview (CSV)
• Table 1.2. Low-Growth Shock: Impact Analysis and Rating
  • Table 1.2. Low-Growth Shock: Impact Analysis and Rating (Markdown version)
  • Table 1.2. Low-Growth Shock: Impact Analysis and Rating (CSV)
• Figure 2.1. U.S. Private-Label Securitization Issuance by Type
  • Figure 2.1. U.S. Private-Label Securitization Issuance by Type (Markdown version)
  • Figure 2.1. U.S. Private-Label Securitization Issuance by Type (CSV)
• figure2_10 — Commercial Bank Funding Structure
  • figure2_10 — Commercial Bank Funding Structure (Markdown version)
  • figure2_10 — Commercial Bank Funding Structure (CSV)
• Figure 2.11. United States: Funding Structure of Selected Largest Commercial and Investment Banks
  • Figure 2.11. United States: Funding Structure of Selected Largest Commercial and Investment Banks (Markdown version)
  • Figure 2.11. United States: Funding Structure of Selected Largest Commercial and Investment Banks (CSV)
• Figure 2.12. Bank Deposits versus Money Market Mutual Funds
  • Figure 2.12. Bank Deposits versus Money Market Mutual Funds (Markdown version)
  • Figure 2.12. Bank Deposits versus Money Market Mutual Funds (CSV)
• Figure 2.2. United States: Outstanding Amount of Commercial Paper
  • Figure 2.2. United States: Outstanding Amount of Commercial Paper (Markdown version)
  • Figure 2.2. United States: Outstanding Amount of Commercial Paper (CSV)
• Figure 2.3. Bank Bond Issuance
  • Figure 2.3. Bank Bond Issuance (Markdown version)
  • Figure 2.3. Bank Bond Issuance (CSV)
• Figure 2.4. Aggregate Bank Credit Default Swap Rate and Selected Spreads
  • Figure 2.4. Aggregate Bank Credit Default Swap Rate and Selected Spreads (Markdown version)
  • Figure 2.4. Aggregate Bank Credit Default Swap Rate and Selected Spreads (CSV)
• Figure 2.7. Share of Average Daily Turnover of Secured and Unsecured Lending
  • Figure 2.7. Share of Average Daily Turnover of Secured and Unsecured Lending (Markdown version)
  • Figure 2.7. Share of Average Daily Turnover of Secured and Unsecured Lending (CSV)
• Box 3.1. Total Number of Countries Rated by Credit Rating Agencies
  • Box 3.1. Total Number of Countries Rated by Credit Rating Agencies (Markdown version)
  • Box 3.1. Total Number of Countries Rated by Credit Rating Agencies (CSV)
• boxfigure3_6
  • boxfigure3_6 (Markdown version)
  • boxfigure3_6 (CSV)
• Figure 3.1. Ratings of AAA-Rated U.s. Mortgage-Related Securities
  • Figure 3.1. Ratings of AAA-Rated U.s. Mortgage-Related Securities (Markdown version)
  • Figure 3.1. Ratings of AAA-Rated U.s. Mortgage-Related Securities (CSV)
• Figure 3.2. Sovereign Rating and Outlook Changes
  • Figure 3.2. Sovereign Rating and Outlook Changes (Markdown version)
  • Figure 3.2. Sovereign Rating and Outlook Changes (CSV)
• Figure 3.3. Moody's Sovereign Rating and Outlook Changes by Selected Regions, May 2007-June 2010
  • Figure 3.3. Moody's Sovereign Rating and Outlook Changes by Selected Regions, May 2007-June 2010 (Markdown version)
  • Figure 3.3. Moody's Sovereign Rating and Outlook Changes by Selected Regions, May 2007-June 2010 (CSV)
• Figure 3.4. Rating Drivers, May 2007-June 2010
  • Figure 3.4. Rating Drivers, May 2007-June 2010 (Markdown version)
  • Figure 3.4. Rating Drivers, May 2007-June 2010 (CSV)
• Figure 3.6 Impact of Change in Sovereign Ratings and Credit Warnings on Credit Default Swap Spread
  • Figure 3.6 Impact of Change in Sovereign Ratings and Credit Warnings on Credit Default Swap Spread (Markdown version)
  • Figure 3.6 Impact of Change in Sovereign Ratings and Credit Warnings on Credit Default Swap Spread (CSV)
• Figure 3.7. Ratings One Year Prior to Sovereign Default, 1975-2009
  • Figure 3.7. Ratings One Year Prior to Sovereign Default, 1975-2009 (Markdown version)
  • Figure 3.7. Ratings One Year Prior to Sovereign Default, 1975-2009 (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)
• Dataset overview
  • Dataset overview (Markdown version)
  • Dataset overview (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)
• Figure 9. Twelve-Month Forward Price/Earnings Ratios
  • Figure 9. Twelve-Month Forward Price/Earnings Ratios (Markdown version)
  • Figure 9. Twelve-Month Forward Price/Earnings Ratios (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. MSCI Equity Market Indices
  • Table 10. MSCI Equity Market Indices (Markdown version)
  • Table 10. MSCI Equity Market Indices (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 Issuance: Bonds, Equities, and Loans
  • Table 14. Emerging Market External Issuance: Bonds, Equities, and Loans (Markdown version)
  • Table 14. Emerging Market External Issuance: Bonds, Equities, and Loans (CSV)
• Table 15. Emerging Market External Issuance: Bonds
  • Table 15. Emerging Market External Issuance: Bonds (Markdown version)
  • Table 15. Emerging Market External Issuance: Bonds (CSV)
• Table 16. Emerging Market External Issuance: Equities
  • Table 16. Emerging Market External Issuance: Equities (Markdown version)
  • Table 16. Emerging Market External Issuance: Equities (CSV)
• Table 17. Emerging Market External Issuance: Loans
  • Table 17. Emerging Market External Issuance: Loans (Markdown version)
  • Table 17. Emerging Market External Issuance: Loans (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)
• Table 24. Bank Nonperforming Loans to Total Loans
  • Table 24. Bank Nonperforming Loans to Total Loans (Markdown version)
  • 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, 2009
  • Table 3. Selected Indicators on the Size of the Capital Markets, 2009 (Markdown version)
  • Table 3. Selected Indicators on the Size of the Capital Markets, 2009 (CSV)
• Sa Table4
  • Sa Table4 (Markdown version)
  • Sa Table4 (CSV)
• Sa Table5
  • Sa Table5 (Markdown version)
  • Sa Table5 (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)
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• 2010年10月期《全球金融稳定报告》概要
  • 2010年10月期《全球金融稳定报告》概要 (Markdown version)
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• Pressfpdf
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• Rapport sur la stabilité financière dans le monde
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• 国際金融安定性報告書
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• 国際金融安定報告書
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• figure 2_10
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• figure 2_11
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• figure 2_12
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• figure 2_1
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• figure 2_2
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• figure 2_3
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• figure 2_4
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• figure 2_7
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• box figure 3_1
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• Boxfigure36pdf
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• figure 3_1
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• figure 3_2
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• figure 3_3
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• figure 3_4
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• figure 3_6
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• figure 3_7
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• Global Financial Stability Report
  • Global Financial Stability Report (Markdown version)
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• chapter 1 econoMIc uncertaInty, sovereIgn rIsk, and FInancIal FragIlItIes
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• chapter 2 systeMIc lIquIdIty rIsk: IMprovIng the resIlIence oF FInancIal InstItutIons and Markets
  • chapter 2 systeMIc lIquIdIty rIsk: IMprovIng the resIlIence oF FInancIal InstItutIons and Markets (Markdown version)
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• CHApTER 3 tHe uses and aBuses oF sovereIgn credIt ratIngs
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• Contentspdf
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• Global Financial Stability Report
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• Global Financial Stability Report
  • Global Financial Stability Report (Markdown version)
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• Press Points for Chapter 1: Economic Uncertainty, Sovereign Risk, and Financial Fragilities
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• _press2pdf
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• Press Points for Chapter Three: The Uses and Abuses of Sovereign Credit Ratings
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• GFSR October 2010 -- Press Points
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• Statappxpdf
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  • Statappxpdf (PDF)
• systemic liquidity risk: improving the resilience of financial institutions and markets2
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• The Uses and Abuses of Sovereign Credit Ratings3
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• Global Financial Stability Report
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• GLOBAL FINANCIAL STABILitY REPORT sovereIgns, FundIng, and systeMIc lIquIdIty
  • GLOBAL FINANCIAL STABILitY REPORT sovereIgns, FundIng, and systeMIc lIquIdIty (Markdown version)
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• Доклад по вопросам глобальной финансовой стабильности
  • Доклад по вопросам глобальной финансовой стабильности (Markdown version)
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• Доклад по вопросам глобальной финансовой стабильности
  • Доклад по вопросам глобальной финансовой стабильности (Markdown version)
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• Pressspdf
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  • Pressspdf (PDF)
• Informe sobre la Estabilidad Financiera Mundial - Octubre de 2010 -- Resumen General
  • Informe sobre la Estabilidad Financiera Mundial - Octubre de 2010 -- Resumen General (Markdown version)
  • Informe sobre la Estabilidad Financiera Mundial - Octubre de 2010 -- Resumen General (PDF)

References

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• http://www.imf.org/external/mmedia/view.aspx?vid=619542444001
• http://www.imf.org/external/mmedia/view.aspx?vid=619701770001
• - Webcast of GFSR press briefing, September 29, 2010
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