IMF-马尔代夫：金融部门评估方案关于宏观审慎政策的技术说明（英）-2024.1.docx

《IMF-马尔代夫：金融部门评估方案关于宏观审慎政策的技术说明（英）-2024.1.docx》由会员分享，可在线阅读，更多相关《IMF-马尔代夫：金融部门评估方案关于宏观审慎政策的技术说明（英）-2024.1.docx（26页珍藏版）》请在优知文库上搜索。

1、INTERNATIONA1.MONETARYFUNDIMFCountryReportNo.24/21MA1.DIVESFINANCIA1.SECTORASSESSMENTPROGRAMJanuary2024TECHNICA1.NOTEONMACROPRUDENTIA1.PO1.ICYThispaperontheMaldiveswaspreparedbyastaffteamoftheInternationalMonetaryFundasbackgrounddocumentationfortheperiodicconsultationwiththemembercountry.Itisbasedon

2、theinformationavailableatthetimeitwascompletedonDecember18,2023.CopiesofthisreportareavailabletothepublicfromInternationalMonetaryFundPublicationServicesPOBox92780Washington,D.C.20090Telephone:(202)623-7430Fax:(202)623-7201E-mail:publicationsimf.orgWeb:InternationalMonetaryFundWashington,D.C.2024Int

3、ernationalMonetaryFundINTERNATIONA1.MONETARYFUNDMA1.DIVESFINANCIA1.SECTORASSESSMENTPROGRAMDecember18,2023TECHNICA1.NOTEMACROPRUDENTIA1.PO1.ICYPreparedByMonetaryandCapitalMarketsDepartmentThisTechnicalNotewaspreparedbyIMFstaffinthecontextofajointIMF-WorIdBankFinancialSectorAssessmentProgram(FSAP)miss

4、ionintheMaldivesduringFebruary18-March2,2023.ItcontainstechnicalanalysisanddetailedinformationunderpinningtheFSAP,sfindingsandrecommendations.FurtherinformationontheFSAPcanbefoundatCONTENTSGlossary3EXECUTIVESUMMARY4INTR0DUC110N7INSTITUTIONA1.FRAMEWORK8A. WillingnesstoAct8B. AbilitytoAct9C. Effective

5、CoordinationandCooperation10D. AccountabilityandCommunication11E. Recommendations11SYSTEMICRISKMONITORING13A. ExistingIndicators13B. RecommendedAdditionalIndicators14MACROPRUDENTIA1.INSTRUMENTS18A. ExistingInstruments18B. EnvisagedInstruments19C. RecommendedAdditionalInstruments22References25BOX1. 1

6、.easeandHirePurchaseProgramsandHouseholdIndebtedness16FIGURES2. ExistingIndicators133. Credit-to-GDPGap154. DSTI1.evelandProbabilityofDefaultofMortgage1.oansinRomania21TAB1.ES1. RecommendationsonMacroprudentialPolicy62. ModelsforMacroprudentialDecision-MakingBodies93. SuggestedEarlyWarningIndicators

7、144. MacroprudentialInstruments:ComparisonwithPeerCountries185. BanksInternalPrudential1.imitsforHousehold1.oans206. RecommendedMacroprudentialInstruments24GlossaryBCBSBaselCommitteeonBankingSupervisionCARCapitalAdequacyRatioCCyBCountercyclicalCapitalBufferQBCreditInformationBureauCMDACapitalMarketD

8、evelopmentAuthorityCRECommercialRealEstateCYCurrencyD-SIBDomesticallySystemicallyImportantBankd-SRIDomesticSystemicRiskIndicatorDSTIDebtServicetoIncomeRatioFCForeignCurrencyFCAFinancialConductAuthorityFXForeignExchangeFSAPFinancialSectorAssessmentProgramHDCHousingDevelopmentCorporationHDFCHousingDev

9、elopmentFinanceCorporationHPHodrick-PrescottHQ1.AHigh-Quality1.iquidAssets1.C1.ocalCurrency1.CR1.iquidityCoverageRatio1.TD1.oan-to-DepositRatio1.TI1.oan-to-IncomeRatio1.TV1.oan-to-ValueRatioMF1.CMaldivesFinanceand1.easingCompanyMMAMaldivesMonetaryAuthorityMoFMinistryofFinanceMoUMemorandumofUnderstan

10、dingMVRMaldivianRufiyaaNBFINon-BankFinancialInstitutionsNBSNationalBureauofStatisticsNOPNetOpenPositionNP1.Non-Performing1.oanNSFRNetStableFundingRatioPDProbabilityofDefaultRBIReserveBankofIndiaRRReserveRequirementsRWARisk-WeightedAssetsSDFCSMEDevelopmentFinanceCorporationSOEState-OwnedEnterpriseSyR

11、BSystemicRiskBufferEXECUTIVESUMMARY】TheMaldivesMonetaryAuthority(MMA)istheentityresponsibleformaintainingfinancialstability.TheBoardofthemonetaryauthorityhasdecision-makingpowersoverMMA,sthreemandates(inorderofpriority):maintainpricestability,maintainfinancialstability,provideassistancetothegovernme

12、ntinattainingeconomicdevelopmentandstability.Tomaintainfinancialstability,MMAregulatesandsupervisesthefinancialinstitutionsandoverseesthepaymentsandsettlementssystem.ItalsohousesaCreditInformationBureau(CIB),akeyelementforbothmicroandmacroprudentialsupervision.Thesecuritiesmarket,outsideofthescopeof

13、MMA,isregulatedbytheCapitalMarketDevelopmentAuthority(CMDA).MMAdoesnothaveamacroprudentialframework.MMA,slowcapacityandsentimentthatthefinancialsystemisisolated,simple,andlowriskhasresultedinaminimalistapproachtoitssupervision.Thereisnomacroprudentialcommitteeandnomacroprudentialmandatewithclearobje

14、ctives.ThebulkoftheworkonmacroprudentialpolicywouldneedtobedonebyafinancialstabilityunitatMMA1separatefromthe,banksandOFIdivision,zasthelatterlacksclearcorrespondingobjectivesandresourcestosafeguardfinancialstability.Inaddition,coordinationwithbothCMDAandthemainstakeholdersofthefinancialsystemappear

15、stobelimited.Communicationtothepublicisalsosparse,withnopublicationofafinancialstabilityreport.1.ast,MMAsuffersfromasignificantlackofdatainfrastructure.DespitetheexistenceoftheCIB,dataqualityappearstobeinsufficientwithmanygaps,andaccesstothedatabaseistoolimitedinpractice.Systemicriskmonitoringisverylimitedandonlyafewmacroprudentialinstrumentsareimplemented.MMAdoesnotmonitoranyindicatorofsystemicrisk,butonlyafewmacroeconomicseriesthatarekeytothetourismsector(e.g.,touristarrivals,numberofbed-nights).Indicatorso