Systemic Risks in Global Banking: What Available Data Can Tell Us and What More Data Are Needed?
IMF Working Papers, September 1, 2011
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- Systemic Risks in Global Banking: What Available Data Can Tell Us and What More Data Are Needed?
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Bibliographic details
- Authors: Eugenio M Cerutti, Patrick M. McGuire, Stijn Claessens
- Published: September 1, 2011
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781463904241.001
Authors and publication
- By Eugenio M Cerutti, Patrick M. McGuire, Stijn Claessens
- September 1, 2011
- IMF Working Papers, Working Paper No. 2011/222, Issue: 222, Volume: 2011
- Pages: 26
- DOI: https://doi.org/10.5089/9781463904241.001
- ISBN: 9781463904241
- ISSN: 1018-5941
- Stock No: WPIEA2011222
Summary of the report
- The recent financial crisis demonstrated extensive interconnectedness in the global financial system: shocks in one location or asset class can have a sizable impact on the stability of institutions and markets around the world.
- Systemic risk analysis is severely hampered by the lack of consistent data capturing the international dimensions of finance.
- Currently available data can be used more effectively, but supervisors and other agencies need more and better data to construct even rudimentary measures of risks in the international financial system.
- Market participants also need better information on aggregate positions and linkages to appropriately monitor and price risks.
Main data gaps identified
- Lack of consistent bank-level data for joint analyses across jurisdictions.
- Insufficient enhancements to existing sets of aggregate statistics to capture international exposures and linkages.
- Limitations in the BIS international banking statistics that need enhancement to better reflect global banking linkages.
Ongoing initiatives to close data gaps
- G20 Data Gaps Initiative: recommends the collection of consistent bank-level data for joint analyses and enhancements to existing sets of aggregate statistics.
- Enhancements to the BIS international banking statistics to better capture cross-border banking activity and exposures.
Subject areas and keywords (as presented)
- Subjects: Banking, Commercial banks, Credit, Economic and financial statistics, Financial institutions, Financial statistics, Foreign banks, Foreign currency exposure, Money
- Keywords: asset, balance sheet, bank, bank asset, bank data, bank nationality level, bank sector, banking system, BIS data, CBS track bank, Commercial banks, contagion, contagion scenario module, counterparty bank, Credit, data cover bank, dollar funding, exposure, exposure data, Financial statistics, Foreign banks, Foreign currency exposure, Global, international, parent bank, reporting bank, Systemic risks, vulnerabilities, WP
Key takeaways for policymakers and market participants
- Better and more consistent bank-level data are essential for meaningful systemic risk measurement and cross-border analysis.
- Enhancements to aggregate statistics and international banking statistics (e.g., BIS data) are necessary to capture global linkages and vulnerabilities.
- Authorities and market participants require improved information on aggregate positions and linkages to monitor and price risks appropriately.
Source: IMF Working Paper "Systemic Risks in Global Banking: What Available Data Can Tell Us and What More Data Are Needed?", September 1, 2011.
Content in this bundle
- Foreign Credit Exposure Measure