The Institute of International Finance is the global association of the financial industry, with close to 450 members from 70 countries. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, sovereign wealth funds, hedge funds, central banks and development banks.
Small output gap estimates for the Euro periphery make little sense because they embed an assumption of negative trend growth post-2008. Allowing for a permanent output loss post-2008 and slower trend growth, we derive output gaps that are much larger than consensus estimates allow. Our larger output gap numbers are consistent with Phillips curve evidence, helping to explain why core inflation has remained so low in the periphery.
We do a balance of payments forecast to assess the funding gap for Ukraine. Ukraine needs a follow-up IMF program of $2 bn under benign assumptions. Political impasse is a key risk due to parliamentary elections in October.
Trade and geopolitical tensions drive investors to safe havens as market risks are reassessed; Greater sensitivity to political news flow reflects growing dominance of passive investing, high-frequency trading; New Principles for Debt Transparency aim to help address debt-related vulnerabilities in low-income countries; Green asset-backed securities have surged in popularity in recent years, but are still a niche product
Sarah Runge, Global Head of Financial Crime Compliance Regulatory Strategy for Credit Suisse, joins us on this week’s episode of FRT to discuss the benefits and challenges of applying Machine Learning in Anti-Money Laundering and Countering Terrorism Financing (AML/CTF).
Small output gap estimates for the Euro periphery make little sense, because they embed an assumption of negative trend growth post-2008. We derive Euro periphery output gaps which are consistent with Phillips curve evidence and help explain why core inflation has remained so low on the periphery.
Georgia has shown impressive resilience during the period of an economic slowdown in the region. The government’s Four Point Plan is expected to remove structural bottlenecks and support strong growth. However, the economy remains vulnerable to regional developments and external shocks.
Indian shadow banks were under pressure in 2018. They did not experience a severe funding crunch, but remain under continued pressure to deleverage. In response, shadow banks are lending a lot less, affecting overall credit supply and growth negatively.
Our U.S. Regulatory Update covers the Federal Reserve’s proposals on FBO requirements, FSOC’s proposed changes to nonbank designations, the NAIC International Forum, and Capitol Hill updates, among other topics.
The May edition of the Insurance Update provides targeted updates on IIF insurance activities and events, and highlights relevant IIF publications or related regulatory developments in other fields.
The IIF submitted to the Basel Committee and to representatives of the Basel Policy Development Group this letter which sets out the key messages of our advocacy and industry's recommendations for addressing these issues.
Douglas Elliott, Partner at Oliver Wyman in the Finance & Risk/Public Policy practice, joins FRT to discuss the policy debate around privacy and consumer data rights, and the specific challenges for the financial sector.
Rob Atkinson, President of the Information Technology & Innovation Foundation (ITIF), joins FRT to discuss the emerging “Techlash” reaction against technological change, and the impacts for current debates on data privacy and protection policies.
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