IMF, November 14, 2013
http://www.imf.org/external/
Summary: The purpose of this paper is to inform Executive Directors on the outcomes of consultations conducted by the IMF’s Statistics Department (STA) on revising the current list of FSIs in response to the global financial crisis and the adoption of a new regulatory framework under the Basel III Accord. In addition, the G-20 Data Gaps Initiative calls on the IMF to review the FSI list (Recommendation no. 2). STA has undertaken these consultations in close collaboration with a broad-based group of national and international experts, international standard setting bodies, IMF’s relevant departments and all FSI-reporting countries and concerned international organizations.
EXECUTIVE SUMMARY (edited)
The Executive Board has requested that the list of financial soundness indicators (FSIs) be kept under review to ensure that they reflect the evolving priorities of Fund surveillance, the rapidly changing financial environment and the relative capacity of countries to compile FSIs. Accordingly, the purpose of this paper is to inform Executive Directors on the outcomes of consultations conducted by the IMF's Statistics Department (STA) on revising the current list of FSIs in response to the global financial crisis and the adoption of a new regulatory framework under the Basel III Accord. In addition, the G-20 Data Gaps Initiative calls on the IMF to review the FSI list (Recommendation no. 2). STA has undertaken these consultations in close collaboration with a broad-based group of national and international experts, international standard setting bodies, IMF's relevant departments and all FSI-reporting countries and concerned international organizations.
As a result of these consultations, the list of FSIs has been revised. The revised FSI list includes new indicators to expand the coverage of the financial sector, including money market funds, insurance corporations, pension funds, other nonbank financial institutions, as well as non-financial corporations and households. Also, certain FSIs will be dropped due mainly to very limited reporting and comparability. Overall, 19 new FSIs will be added to the list and five will be dropped.
To improve usefulness and forward-looking features, FSIs for the sector as a whole would be enhanced with concentration and distribution measures. In this connection, STA is planning to conduct a pilot exercise with a set of FSI-reporting countries on a voluntary basis.
STA will continue to keep the Executive Board informed periodically on developments in the IMF's FSIs initiative, including its work on revising the FSI Compilation Guide.
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Also, check the background paper: http://www.imf.org/external/
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