Why are the G-20 Data Gaps Initiative and the SDDS Plus Relevant for Financial Stability Analysis?
IMF Working Papers, January 11, 2013
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Bibliographic details
- Authors: Robert M Heath
- Published: January 11, 2013
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781475596861.001
Overview
- Author: Robert M Heath
- Date: January 11, 2013
- Core question: What types of data are needed to undertake financial stability analysis in the wake of the global crisis?
- Two initiatives at the forefront:
- the IMF/FSB G-20 Data Gaps Initiative (DGI), created by the international statistical community and endorsed by the G-20 Finance Ministers and Central Bank Governors as well as the IMF’s International Monetary and Financial Committee.
- the Special Data Dissemination Standard Plus (SDDS Plus), aimed particularly at economies with systemically important financial sectors.
Relevance of the DGI for financial stability analysis
- The DGI responds to the increasing need for data sets to undertake financial stability analysis following the global crisis.
- The paper explains the specific ways the DGI is relevant for financial stability analysis, emphasizing the need for expanded and improved statistics to analyze system-wide risks.
- Key thematic areas of DGI relevance include cross-border linkages, securities data, sectoral accounts, and financial statistics that support monitoring of financial soundness indicators and financial sector stability.
Role of the SDDS Plus and public dissemination
- SDDS Plus is closely linked with the DGI and is emphasized as important for promoting the dissemination to the public of a core set of data for financial stability analysis.
- SDDS Plus is targeted at economies with systemically important financial sectors to enhance transparency and the availability of critical statistics for market participants and policy makers.
- The SDDS Plus supports public access to data needed for assessing government debt, CDS market activity, cross-border securities investment, and other indicators relevant to financial stability.
Key findings, implications, and policy recommendations
- Findings and emphases:
- There is an increased focus on financial stability analysis after the global crisis and a higher demand for specific data sets to support this analysis.
- Two initiatives—DGI and SDDS Plus—are central frameworks for addressing identified data gaps.
- The SDDS Plus promotes dissemination of a core set of data for financial stability analysis, enhancing transparency in economies with systemically important financial sectors.
- Policy implications and recommendations:
- Strengthen statistical frameworks to produce data on cross-border linkages and securities holdings to better assess systemic risks.
- Adopt and implement SDDS Plus practices to improve public dissemination of data crucial for financial stability analysis.
- Prioritize development and release of financial statistics and financial soundness indicators to inform surveillance and market discipline.
IMF Working Paper by Robert M Heath, January 11, 2013.