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Procyclicality of Financial Systems in Asia

Procyclicality of Financial Systems in Asia »

Series: Seminar Volumes

Author(s): Stefan Gerlach , and Paul Gruenwald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2006

DOI: http://dx.doi.org/10.5089/9781403987518.072

ISBN: 9781403987518

Keywords: Financial systems, Asia, banking, financial system, financial stability, financial sector

The procyclicality of financial systems has received an increasing amount of attention from policymakers, academics, and international organizations in recent years. This heightened interest stems from a combinatio...

1 Introduction

1 Introduction »

Source: Procyclicality of Financial Systems in Asia

Series: Seminar Volumes

Author(s): Stefan Gerlach , and Paul Gruenwald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2006

ISBN: 9781403987518

Keywords: Financial systems, Asia, banking, financial system, financial stability, financial sector

The procyclicality of financial systems has received an increasing amount of attention from policy-makers, academics and international organizations in recent years. This heightened...

2 Procyclicality and Volatility in the Financial System: the Implementation of Basel II and IAS 39*

2 Procyclicality and Volatility in the Financial System: the Implementation of Basel II and IAS 39* »

Source: Procyclicality of Financial Systems in Asia

Series: Seminar Volumes

Author(s): Stefan Gerlach , and Paul Gruenwald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2006

ISBN: 9781403987518

Keywords: Financial systems, Asia, banking, financial system, financial stability, financial sector

1 Introduction After many years of discussion, the implementation of two major reforms to international bank regulation and accounting practices is imminent. The Basel II Capital Acc...

Comments on “Procyclicality and Volatility in the Financial System”

Comments on “Procyclicality and Volatility in the Financial System” »

Source: Procyclicality of Financial Systems in Asia

Series: Seminar Volumes

Author(s): Stefan Gerlach , and Paul Gruenwald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2006

ISBN: 9781403987518

Keywords: Financial systems, Asia, banking, financial system, financial stability, financial sector

In these comments on the chapter by Ashley Taylor and Charles Goodhart, I will try to step back and take a broader view of procyclicality from the perspective of a common- or garden...

Comments on “Procyclicality and Volatility in the Financial System”

Comments on “Procyclicality and Volatility in the Financial System” »

Source: Procyclicality of Financial Systems in Asia

Series: Seminar Volumes

Author(s): Stefan Gerlach , and Paul Gruenwald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2006

ISBN: 9781403987518

Keywords: Financial systems, Asia, banking, financial system, financial stability, financial sector

In a perfect world banks could easily identify emerging soft spots and use stress testing to calibrate more precisely the impact on the present value of their loan portfolios and re...

Comments on “Procyclicality and Volatility in the Financial System”

Comments on “Procyclicality and Volatility in the Financial System” »

Source: Procyclicality of Financial Systems in Asia

Series: Seminar Volumes

Author(s): Stefan Gerlach , and Paul Gruenwald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2006

ISBN: 9781403987518

Keywords: Financial systems, Asia, banking, financial system, financial stability, financial sector

Introduction As Ashley Taylor and Charles Goodhart’s most insightful chapter demonstrates, there are concerns both in academia and in the banking sector regarding the potential costs...

3 Sources of Procyclicality in East Asian Financial Systems

3 Sources of Procyclicality in East Asian Financial Systems »

Source: Procyclicality of Financial Systems in Asia

Series: Seminar Volumes

Author(s): Stefan Gerlach , and Paul Gruenwald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2006

ISBN: 9781403987518

Keywords: Financial systems, Asia, banking, financial system, financial stability, financial sector

1 Introduction In most countries, financial systems are procyclical. Credit to the non-financial private sector typically increases when output is expanding and contracts during rece...

Comments on “Sources of Procyclicality in East Asian Financial Systems”

Comments on “Sources of Procyclicality in East Asian Financial Systems” »

Source: Procyclicality of Financial Systems in Asia

Series: Seminar Volumes

Author(s): Stefan Gerlach , and Paul Gruenwald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2006

ISBN: 9781403987518

Keywords: Financial systems, Asia, banking, financial system, financial stability, financial sector

As we have seen, structural weakness of the financial system is the major reason contributing to exacerbated procyclicality in Asia. This finding concisely builds a bridge between m...

Comments on “Sources of Procyclicality in East Asian Financial Systems”

Comments on “Sources of Procyclicality in East Asian Financial Systems” »

Source: Procyclicality of Financial Systems in Asia

Series: Seminar Volumes

Author(s): Stefan Gerlach , and Paul Gruenwald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2006

ISBN: 9781403987518

Keywords: Financial systems, Asia, banking, financial system, financial stability, financial sector

The topic of managing procyclicality of the financial system is an important and challenging issue for central bankers and academics alike. Recurring episodes of financial sector cr...

4 Procyclical Financial Behavior: What Can Be Done?

4 Procyclical Financial Behavior: What Can Be Done? »

Source: Procyclicality of Financial Systems in Asia

Series: Seminar Volumes

Author(s): Stefan Gerlach , and Paul Gruenwald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2006

ISBN: 9781403987518

Keywords: Financial systems, Asia, banking, financial system, financial stability, financial sector

1 Introduction The role of the financial sector in the business cycle has long been a subject of study, but has moved somewhat more to the fore in recent years. In part, the renewed...