## Integrating Stability Assessments Under the Financial Sector Assessment Program into Article IV Surveillance

_Policy Papers, August 27, 2010_

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## Bibliographic details
- Published: August 27, 2010
- Series: Policy Papers

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### Summary
- Integration of financial sector issues into bilateral surveillance has been a long-standing challenge.
- Financial stability is a key component of the domestic and external stability of members and is important for the promotion of the “stable system of exchange rates” envisaged under Article IV.
- Although financial sector issues and policies are at the core of the Fund’s surveillance mandate, their effective integration has been a challenge.
- To address this challenge, it is proposed to adopt a more risk-based approach to financial sector surveillance by making FSAP stability assessments part of Article IV surveillance for members with systemically important financial sectors.

### Key findings and observations
- Financial stability contributes directly to both domestic stability and external stability of members.
- The existing gap lies in effective integration of financial sector assessments into bilateral (Article IV) surveillance.

### Policy proposal / Recommendations
- Adopt a more risk-based approach to financial sector surveillance.
- Make Financial Sector Assessment Program (FSAP) stability assessments part of Article IV surveillance for members with systemically important financial sectors.

### Context and related program information
- Document classified under: Policy Papers.
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_Source: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/integrating-stability-assessments-under-the-financial-sector-assessment-program-into-pp4477_