目录
Executive Summary vii
Chapter 1. Economic Uncertainty, Sovereign Risk, and Financial Fragilities 1
A. What Is the Outlook for Global Financial Stability? 1
B. Sovereign Risks and Financial Fragilities 2
C. Sovereign and Banking System Spillovers 12
D. Managing Risks to Emerging Markets 23
E. Policy Priorities 28
Annex 1.1. Impact of Adverse Growth Shock on Advanced Economy Debt Ratios 38
Annex 1.2. Systemic Contingent Claims Analysis of Banking and Sovereign Risk 40
Annex 1.3. Analyzing Portfolio Infl ows to Emerging Markets and Other Advanced Markets 44
Annex 1.4. Asia’s Local Currency Corporate Bond Market—A New Spare Tire 48
Annex 1.5. Where Now for Fannie and Freddie? A Review of the Options 50
References 51
Chapter 2. Systemic Liquidity Risk: Improving the Resilience of Institutions and Markets
[Available online www.imf.org/external/pubs/ft/gfsr/2010/02/pdf/chap2.pdf ]
Summary
Review of the Systemic Liquidity Shock through Various Short-Term Funding Markets
Funding Markets as Propagation Channels of Systemic Liquidity Risk
Policies to Strengthen the Resilience of Funding Markets
Policies to Strengthen Prudential Liquidity Regulations for Institutions
Outstanding Policy Issues in Addressing Systemic Liquidity Risk
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