{
  "title": "Jamaica: Technical Assistance Report-Systemic Risk Monitoring",
  "publication": "Technical Assistance Reports, November 1, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/technical-assistance-reports/issues/2024/11/01/jamaica-technical-assistance-report-systemic-risk-monitoring-556876",
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  "summary": "The technical assistance mission aimed to build capacity to enhance financial stability analyses and assessments at the Bank of Jamaica (BOJ). It reviewed the latest available Financial Stability Report (FSR) and the analytical toolkit.",
  "sections": [
    {
      "heading": "Mission objectives and scope",
      "content": "- Aim: build capacity to enhance financial stability analyses and assessments at the Bank of Jamaica (BOJ).\n- Reviewed the latest available Financial Stability Report (FSR) and the BOJ analytical toolkit.\n- Assisted BOJ in estimating sectoral credit risk models to enhance the forward-looking element of its financial stability assessment.\n- Explained the Bayesian Model Averaging (BMA) approach and provided initial estimates for five sectoral credit risk models."
    },
    {
      "heading": "Sectoral credit risk models (initial estimates)",
      "content": "- Mortgages to households\n- Personal loans\n- Corporate loans for tourism\n- Corporate loans for construction\n- Other corporate loans"
    },
    {
      "heading": "Analytical topics covered",
      "content": "- Financial stability indicators\n- Credit risk\n- Stress testing\n- Insurance and pension balance sheets\n- Climate risk\n- Interconnectedness\n- Contagion risk"
    },
    {
      "heading": "Key findings and analytical conclusions",
      "content": "- The mission concluded that financial stability should be regarded as equally important as monetary policy and supervision.\n- Emphasis on enhancing the forward-looking element of financial stability assessment through sectoral credit risk modeling using BMA.\n- Highlighted the importance of improving analyses of non-bank financial sector actors.\n- Recommended regular reporting on emerging risks, specifically climate and cyber risks."
    },
    {
      "heading": "Recommendations (FSR, methodology, communication, data)",
      "content": "- Prepare a detailed production plan for the Financial Stability Report (FSR).\n- Develop a comprehensive communication strategy for internal and external stakeholders.\n- Organize all data in a single data warehouse to support the financial stability analytical toolkit.\n- Advance methodological work on the financial stability analytical toolkit (including BMA-based sectoral credit risk models).\n- Improve non-bank analyses and establish regular reporting on emerging risks (climate, cyber).\n\n---\n\n Content in this bundle\n\n- tarea2024090-print-pdf\n  - tarea2024090-print-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - tarea2024090-print-pdf (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/technical-assistance-reports/issues/2024/11/01/jamaica-technical-assistance-report-systemic-risk-monitoring-556876"
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    "Published: November 1, 2024",
    "Series: Technical Assistance Reports",
    "DOI: https://doi.org/10.5089/9798400290442.019",
    "Aim: build capacity to enhance financial stability analyses and assessments at the Bank of Jamaica (BOJ).",
    "Reviewed the latest available Financial Stability Report (FSR) and the BOJ analytical toolkit.",
    "Assisted BOJ in estimating sectoral credit risk models to enhance the forward-looking element of its financial stability assessment.",
    "Explained the Bayesian Model Averaging (BMA) approach and provided initial estimates for five sectoral credit risk models.",
    "Mortgages to households",
    "Personal loans",
    "Corporate loans for tourism",
    "Corporate loans for construction",
    "Other corporate loans",
    "Financial stability indicators",
    "Credit risk",
    "Stress testing",
    "Insurance and pension balance sheets",
    "Climate risk",
    "Interconnectedness",
    "Contagion risk",
    "The mission concluded that financial stability should be regarded as equally important as monetary policy and supervision.",
    "Emphasis on enhancing the forward-looking element of financial stability assessment through sectoral credit risk modeling using BMA.",
    "Highlighted the importance of improving analyses of non-bank financial sector actors.",
    "Recommended regular reporting on emerging risks, specifically climate and cyber risks.",
    "Prepare a detailed production plan for the Financial Stability Report (FSR).",
    "Develop a comprehensive communication strategy for internal and external stakeholders.",
    "Organize all data in a single data warehouse to support the financial stability analytical toolkit.",
    "Advance methodological work on the financial stability analytical toolkit (including BMA-based sectoral credit risk models).",
    "Improve non-bank analyses and establish regular reporting on emerging risks (climate, cyber).",
    "**tarea2024090-print-pdf**"
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