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Modeling ECL During COVID-19: Providing Flexibility To Avoid Procyclicality 

The focus of this Staff Paper is on how new ECL standards work, how they introduce procyclicality under deteriorating credit conditions, and what actions and guidance regulators and accounting standard-setting bodies have issued to help avoid excessive procyclicality in the current crisis. 

GMV: Exchange Rate Valuations in the COVID-19 Shock

Emerging market currencies have experienced very large depreciations. Ordinarily our exchange rate models would be signaling large undervaluations. ...

April 2020 Global Debt Monitor: COVID-19 Lights a Fuse

Global debt across all sectors rose by over $10 trillion in 2019, topping $255 trillion. At over 322% of GDP, global debt is now 40 percentage points ($87 trillion) higher than at the onset of the 2008 financial crisis—a sobering realization as governments worldwide gear up to fight the COVID-19 pandemic. 

The Big Questions: Episode 3 - Reflecting On The G20 Leaders' Summit Statement, And Evaluating South Africa

In a special two-part episode, IIF Executive Vice President of Research and Policy, Clay Lowery, joins host Dylan Riddle to discuss the outcome of the G20 extraordinary virtual leadership summit. Later in the episode, Deputy Chief Economist Elina Ribakova reflects on South Africa's recent downgrade and outlines what is next for the key emerging market. 

Weekly Insight: COVID-19 hammers equity valuations

COVID-19 sends equity valuations plummeting worldwide: the U.S. cyclically adjusted P/E ratio (price to average long-term real earnings) is just below its long-term average, while Germany, France and EMs CAPEs are already near historic lows.

In Conversation: The Policy Response And Future Policy Challenges In Response To COVID-19

In this special edition of the Global Regulatory Update, Andres Portilla, Managing Director and Head of Regulatory Affairs, discusses with Bill Coen, former Secretary General of the Basel Committee and Chairman of the IFRS Advisory Council, the global regulatory and policy response to the ongoing COVID-19 crisis.

April U.S. Regulatory Update 

The April U.S. Regulatory Update covers U.S. regulators’ responses to COVID-19, the CARES Act, the recent FSOC meeting, the Fed’s stress capital buffer and CCAR announcements, and more. 

GMV: COVID-19 Capital Flow Exodus from EM

The COVID-19 shock has meant a sharp sudden stop for emerging markets, with our daily tracking of non-resident portfolio outflows at unprecedented levels.

Update Oil Exporters: External and Fiscal Breakeven Oil Prices Set to Decline 

Russia’s fiscal breakeven oil price, around $40/bbl in 2020, is the lowest among major oil exporters. While Saudi Arabia’s fiscal and external breakeven prices should decline due to a cut in non-priority spending and a fall in imports, fiscal breakeven prices remain well above $60 in much of MENA. 

AATG Episode 6: Janine Guillot, CEO, Sustainability Accounting Standards Board Foundation (SASB)

Janine Guillot, the CEO of, Sustainability Accounting Standards Board Foundation (SASB), Janine Guillot, joins the latest episode of our “All about the Green” podcast. Speaking with the IIF Managing Director and Head of Sustainable Finance, Sonja Gibbs.

 

 

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