Global Financial Stability Report, October 2019: Lower for Longer

Global Financial Stability Report, October 16, 2019

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Bibliographic details

• Published: October 16, 2019
• Series: Global Financial Stability Report
• DOI: https://doi.org/10.5089/9781498324021.082

Executive summary

• The October 2019 Global Financial Stability Report (GFSR) identifies the current key vulnerabilities in the global financial system as:
  • the rise in corporate debt burdens,
  • increasing holdings of riskier and more illiquid assets by institutional investors,
  • growing reliance on external borrowing by emerging and frontier market economies.
• The report proposes that policymakers mitigate these risks through:
  • stricter supervisory and macroprudential oversight of firms,
  • strengthened oversight and disclosure for institutional investors,
  • implementation of prudent sovereign debt management practices and frameworks for emerging and frontier market economies.
• Publication date: October 16, 2019.

Major findings

• Corporate sector:
  • Rise in corporate debt burdens is identified as a key vulnerability.
• Institutional investors:
  • Increasing holdings of riskier and more illiquid assets by institutional investors is identified as a key vulnerability.
• Emerging and frontier market economies:
  • Growing reliance on external borrowing by emerging and frontier market economies is identified as a key vulnerability.

Policy recommendations

• For firms and corporate sector:
  • Stricter supervisory oversight.
  • Enhanced macroprudential oversight.
• For institutional investors:
  • Strengthened oversight.
  • Improved disclosure requirements.
• For emerging and frontier market economies:
  • Implement prudent sovereign debt management practices.
  • Establish frameworks to manage external borrowing risks.

Subjects and keywords

• Subjects: Banking; Climate finance; Corporate social responsibility; Economic sectors; Emerging and frontier financial markets; Environment; Financial crises; Financial markets; Financial sector policy and analysis; Financial sector risk; Global financial crisis of 2008-2009; Pension spending.
• Keywords: Climate finance; Corporate social responsibility; credit quality; debt; debt portfolio inflow; economy; Emerging and frontier financial markets; emerging market; ESG factor; ESG risk exposure; Europe; Financial sector risk; fund assets; GFSR; Global; Global financial crisis of 2008-2009; SOE debt rising; state-owned enterprise; US dollar; yield.

International Monetary Fund. Global Financial Stability Report, October 2019: Lower for Longer (2019).

References

• https://www.imf.org/en/publications/gfsr
• United States and the IMF
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• Banking
• Climate finance
• Corporate social responsibility
• Economic sectors
• Emerging and frontier financial markets
• Environment
• Financial crises
• Financial markets
• Financial sector policy and analysis
• Financial sector risk
• Global financial crisis of 2008-2009
• Pension spending
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