Policy Papers

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

Publication Date:

May 18, 2021

Electronic Access:

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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.

Series:

Policy Paper No. 2021/033

Subject:

Financial sector policy and analysis Financial sector stability Macroprudential policy Monetary policy Political economy Stress testing Systemic risk Systemic risk assessment

Frequency:

occasional