Financial Stability Reports:What Are They Good For?

Author/Editor: Cihák, Martin ; Muñoz, Sònia ; Sharifuddin, Shakira Teh ; Tintchev, Kalin
Publication Date: January 01, 2012
Electronic Access: Free Full text (PDF file size is 1,201KB).
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary: The global financial crisis has renewed policymakers' interest in improving the policy framework for financial stability, and an open question is to what extent and in what form should financial stability reports be part of it. We examine the recent experience with central banks’ financial stability reports, and find—despite some progress in recent years—that forward-looking perspective and analysis of financial interconnectedness are often lacking. We also find that higher-quality reports tend to be associated with more stable financial environments. However, there is only a weak empirical link between financial stability report publication per se and financial stability. This suggests room for improvement in terms of the quality of financial stability reports.
Series: Working Paper No. 12/1
Subject(s): Central banks | Data quality assessment framework | Financial stability | Public information notices

Author's Keyword(s): Financial Stability | Central Banking | Macro-Prudential Tools | Systemic Risk
Publication Date: January 01, 2012
Format: Paper
Stock No: WPIEA20120001 Pages: 51
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