2021 Comprehensive Surveillance Review— Background Paper on Systemic Risk and Macroprudential Policy Advice in Article IV Consultations

Author: International Monetary Fund. Strategy, Policy, & Review Department

This paper assesses progress made in deepening and integrating systemic risk analysis and macroprudential policy advice in Article IV consultations following up on the findings of the IEO evaluation.

Volume/Issue: Volume 2021 Issue 033

Publication date: May 2021

ISBN: 9781513582719

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Topics covered in this book

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Finance , Economics- Macroeconomics , Money and Monetary Policy , Political Economy , IMF staff calculation , risk analysis , Financial Stability Board G-20 Data Gaps Initiative , IMF's transparency policy , Policy mix , existing IMF policy , Macroprudential policy , Systemic risk , Systemic risk assessment , Stress testing , Financial sector stability , Global

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Summary

This paper assesses progress made in deepening and integrating systemic risk analysis and macroprudential policy advice in Article IV consultations following up on the findings of the IEO evaluation. The assessment informs the Comprehensive Surveillance Review and the FSAP Review in their recommendations to strengthen these areas in Article IV consultations. The findings point to notable improvements made since the launch of the macrofinancial mainstreaming initiative, particularly in staff reports for advanced economies and in covering bank and credit-related risks.