## Global Financial Stability Report, October 2021 _Global Financial Stability Report, October 2021_ ## Source details **Canonical URL:** [Global Financial Stability Report, October 2021](https://www.imf.org/en/publications/gfsr/issues/2021/10/12/global-financial-stability-report-october-2021) ## Other formats - [Markdown version](/en/publications/gfsr/issues/2021/10/12/global-financial-stability-report-october-2021/index.md) - [Structured JSON version](/en/publications/gfsr/issues/2021/10/12/global-financial-stability-report-october-2021/index.json) - [Bundle manifest](/en/publications/gfsr/issues/2021/10/12/global-financial-stability-report-october-2021/bundle-manifest.json) ## Bibliographic details - Published: October 6, 2021 --- ### Overview - Title string: "Global Financial Stability Report 10/12/2021" - Thematic framing: "COVID-19, Crypto, and Climate" and "Navigating Challenging Transitions" - Core statement: "Financial stability risks have been contained so far, reflecting ongoing policy support and a rebound in the global economy earlier this year." - Key cross-cutting concerns: - "The optimism that propelled markets earlier in the year has faded on growing concerns about the strength of the global recovery, and ongoing supply chain disruptions intensified inflation concerns." - "Signs of stretched asset valuations in some market segments persist, and pockets of vulnerabilities remain in the nonbank financial sector; recovery is uneven in the corporate sector." ### Chapter 1: Global Financial Stability Overview: A Delicate Balancing Act - Main finding: "As the world continues to navigate the pandemic, financial stability risks have been contained so far thanks to the ongoing policy support." - Persisting vulnerabilities: - "Financial vulnerabilities remain elevated in several sectors." - "Concerns about upside risks to the inflation outlook persist and asset valuations are stretched in some market segments." - "Emerging and frontier markets continue to face large financing needs amid higher funding costs." - "Risks are also rising at some nonbank financial institutions as they reach for yield to meet return targets." ### Chapter 2: The Crypto Ecosystem and Financial Stability Challenges - Summary: "The crypto ecosystem offers an exciting new world of opportunities but also challenges." - Key risks identified: - "Crypto asset providers’ lack of operational or cyber resilience poses risks." - "Anonymity and limited global standards create significant data gaps for regulators and pose risks to financial integrity." - "Crypto assets in emerging markets may accelerate dollarization risks." - Policy output: "The chapter concludes with a set of eight actionable policy recommendations." ### Chapter 3: Investment Funds: Fostering the Transition to a Green Economy - Analytical focus: the role of the global investment fund sector in supporting the transition to a green economy and the risks to the sector arising from that transition. - Principal findings and guidance: - "Sustainable funds can support the global transition to a green economy but must be scaled up to have a major impact." - Policymaker actions recommended: - "Strengthen the global climate information architecture to foster climate finance markets." - "Ensure proper regulatory oversight to prevent greenwashing." - "Conduct scenario analysis and stress testing to mitigate financial stability risks." - Risk note: "A disorderly transition could disrupt the broader investment fund sector in the future." ### Multimedia and Dissemination - Press Briefing: "Global Financial Stability Report, October 2021" — October 12, 2021 — 44:20 - Chapter 2 webcast: "Global Financial Stability Report, October 2021: Chapter 2: The Crypto Ecosystem and Financial Stability Challenges" — October 1, 2021 — 17:49 - Chapter 3 webcast: "Global Financial Stability Report, October 2021: Chapter 3: Investment Funds: Fostering the Transition to a Green Economy" — October 4, 2021 — 13:32 *Source: Global Financial Stability Report, October 2021* --- ## Content in this bundle - **data-ch2 — Dataset overview** - [data-ch2 — Dataset overview (Markdown version)](/-/media/files/publications/gfsr/2021/october/data/data-ch2.xlsx.md){rel="alternate" type="text/markdown"} - [data-ch2 — Dataset overview (XLSX)](/-/media/files/publications/gfsr/2021/october/data/data-ch2.xlsx){rel="external" type="application/vnd.openxmlformats-officedocument.spreadsheetml.sheet"} - **data-ch3** - [data-ch3 (Markdown version)](/-/media/files/publications/gfsr/2021/october/data/data-ch3.xlsx.md){rel="alternate" type="text/markdown"} - [data-ch3 (XLSX)](/-/media/files/publications/gfsr/2021/october/data/data-ch3.xlsx){rel="external" type="application/vnd.openxmlformats-officedocument.spreadsheetml.sheet"} - **Chapter 1** - [Chapter 1 (Markdown version)](/-/media/files/publications/gfsr/2021/october/english/ch1.pdf.md){rel="alternate" type="text/markdown"} - [Chapter 1 (PDF)](/-/media/files/publications/gfsr/2021/october/english/ch1.pdf){rel="external" type="application/pdf"} - **Chapter 2** - [Chapter 2 (Markdown version)](/-/media/files/publications/gfsr/2021/october/english/ch2.pdf.md){rel="alternate" type="text/markdown"} - [Chapter 2 (PDF)](/-/media/files/publications/gfsr/2021/october/english/ch2.pdf){rel="external" type="application/pdf"} - **CHAPTER 3 INVESTMENT FUNDS: FOSTERING THE TRANSITION TO A GREEN ECONOMY** - [CHAPTER 3 INVESTMENT FUNDS: FOSTERING THE TRANSITION TO A GREEN ECONOMY (Markdown version)](/-/media/files/publications/gfsr/2021/october/english/ch3.pdf.md){rel="alternate" type="text/markdown"} - [CHAPTER 3 INVESTMENT FUNDS: FOSTERING THE TRANSITION TO A GREEN ECONOMY (PDF)](/-/media/files/publications/gfsr/2021/october/english/ch3.pdf){rel="external" type="application/pdf"} - **Executive Summary** - [Executive Summary (Markdown version)](/-/media/files/publications/gfsr/2021/october/english/execsum.pdf.md){rel="alternate" type="text/markdown"} - [Executive Summary (PDF)](/-/media/files/publications/gfsr/2021/october/english/execsum.pdf){rel="external" type="application/pdf"} - **Foreword** - [Foreword (Markdown version)](/-/media/files/publications/gfsr/2021/october/english/foreword.pdf.md){rel="alternate" type="text/markdown"} - [Foreword (PDF)](/-/media/files/publications/gfsr/2021/october/english/foreword.pdf){rel="external" type="application/pdf"} - **Global Financial Stability Report, October 2021: Key Highlights; October 12, 2021** - [Global Financial Stability Report, October 2021: Key Highlights; October 12, 2021 (Markdown version)](/-/media/files/publications/gfsr/2021/october/english/keyhighlightsinfographic.pdf.md){rel="alternate" type="text/markdown"} - [Global Financial Stability Report, October 2021: Key Highlights; October 12, 2021 (PDF)](/-/media/files/publications/gfsr/2021/october/english/keyhighlightsinfographic.pdf){rel="external" type="application/pdf"} - **online-annex-ch2** - [online-annex-ch2 (Markdown version)](/-/media/files/publications/gfsr/2021/october/english/online-annex-ch2.pdf.md){rel="alternate" type="text/markdown"} - [online-annex-ch2 (PDF)](/-/media/files/publications/gfsr/2021/october/english/online-annex-ch2.pdf){rel="external" type="application/pdf"} - **online-annex-ch3** - [online-annex-ch3 (Markdown version)](/-/media/files/publications/gfsr/2021/october/english/online-annex-ch3.pdf.md){rel="alternate" type="text/markdown"} - [online-annex-ch3 (PDF)](/-/media/files/publications/gfsr/2021/october/english/online-annex-ch3.pdf){rel="external" type="application/pdf"} - **Full Report** - [Full Report (Markdown version)](/-/media/files/publications/gfsr/2021/october/english/text.pdf.md){rel="alternate" type="text/markdown"} - [Full Report (PDF)](/-/media/files/publications/gfsr/2021/october/english/text.pdf){rel="external" type="application/pdf"} --- ## References - [https://blogs.imf.org/2021/10/12/uncertainty-grips-markets-as-optimism-wanes](https://blogs.imf.org/2021/10/12/uncertainty-grips-markets-as-optimism-wanes) - [Watch the Webcast](https://www.imf.org/en/Videos/view?vid=6276788262001) - [https://blogs.imf.org/2021/10/01/crypto-boom-poses-new-challenges-to-financial-stability/](https://blogs.imf.org/2021/10/01/crypto-boom-poses-new-challenges-to-financial-stability/) - [Watch the Webcast](https://www.imf.org/en/Videos/view?vid=6275074381001) - [Podcast](https://www.imf.org/en/News/Podcasts/All-Podcasts/2021/10/08/crypto-tobias-adrian) - [https://blogs.imf.org/2021/10/04/how-investment-funds-can-drive-the-green-transition](https://blogs.imf.org/2021/10/04/how-investment-funds-can-drive-the-green-transition) - [Watch the Webcast](https://www.imf.org/en/Videos/view?vid=6275492571001) _Source: https://www.imf.org/en/publications/gfsr/issues/2021/10/12/global-financial-stability-report-october-2021_