Financial Stability Reports: What are They Good for?

52 Pages Posted: 2 Feb 2012

See all articles by Martin Čihák

Martin Čihák

International Monetary Fund (IMF)

Sharika Teh Sharifuddin

affiliation not provided to SSRN

Kalin Tintchev

affiliation not provided to SSRN

Sònia Muñoz

International Monetary Fund (IMF)

Date Written: Janurary 2012

Abstract

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.

Keywords: Central banks, Data quality assessment framework, Financial stability, Public information notices

Suggested Citation

Cihak, Martin and Sharifuddin, Sharika Teh and Tintchev, Kalin and Muñoz, Sònia, Financial Stability Reports: What are They Good for? (Janurary 2012). IMF Working Paper No. 12/1. Available at SSRN: https://ssrn.com/abstract=1997714

Martin Cihak (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street N.W.
Washington, DC 20431
United States

Sharika Teh Sharifuddin

affiliation not provided to SSRN

No Address Available

Kalin Tintchev

affiliation not provided to SSRN

No Address Available

Sònia Muñoz

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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