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Daily Archives: November 14, 2011

IMF – People’s Republic of China: Financial System Stability Assessment

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People’s Republic of China: Financial System Stability Assessment, Prepared by the Monetary and Capital Markets and Asia and Pacific Departments, Approved by José Viñals and Anoop Singh, released on November 14, 2011

  • “This report is based on the IMF/World Bank Financial Sector Assessment Program (FSAP) exercise for China undertaken during June–December 2010. The assessment concluded that reforms have progressed well in moving to a more commercially-oriented financial system. Despite success and rapid growth, China’s financial sector is confronting several near-term risks, structural challenges, and policy-induced distortions. The main sources of risks are: (i) the effects of a rapid crisis-related credit expansion on credit quality, (ii) growing off-balance sheet exposures and disintermediation, (iii) a reversal in rapidly rising real estate prices, and (iv) an increase in imbalances due to the current economic growth pattern. Medium-term vulnerabilities—the relatively inflexible macroeconomic policy framework, and the government’s important role in credit allocation and in the financial sector at the central and provincial levels—are building up contingent liabilities and could impair the needed reorientation of the financial system to support China’s future growth.”
  • Related postings on financial system

    • New GAO Reports: Compacts of Free Association, Delphi Corporation, Foreign Assistance

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    Compacts of Free Association: Improvements Needed to Assess and Address Growing Migration, GAO-12-64, Nov 14, 2011 Delphi Corporation: Key Events Leading to Termination of the Delphi Defined Benefit Plans, GAO-12-234T, Nov 14, 2011 Foreign Assistance: Clearer Guidance Needed on Compliance Overseas with Legislation Prohibiting Abortion-Related Lobbying, GAO-12-35, Oct 13, 2011 Continue Reading

    Federal Reserve Bank of NY: The Evolution of Federal Debt Ceilings

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    The Evolution of Federal Debt Ceilings, by Kenneth Garbade “It’s hardly news that Congress sets a statutory limit on aggregate Treasury indebtedness. Since Congress controls the appropriations and tax code that largely determine deficits, some commentators have questioned the need for limiting indebtedness as well. Interestingly, the current regime was not put in place “on… Continue Reading

    The Economist – What are the world's biggest sources of renewable energy and where are they located?

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    What are the world’s biggest sources of renewable energy and where are they located?: “Efforts to tackle climate change include heavy investment in renewable sources of electricity around the world. Solar power saw the biggest leap in 2010, with the installed base jumping 70% compared with 2009 to 40 gigawatts. Wind power also grew strongly,… Continue Reading

    FRBSF Economics Letter: Future Recession Risks: An Update

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    Future Recession Risks: An Update, by Travis J. Berge, Early Elias, and Oscar Jorda “In 2010, statistical experiments based on components of the Conference Board’s Leading Economic Index showed a significant possibility of a U.S. recession over a 24-month period. Since then, the European sovereign debt crisis has aggravated international threats to the U.S. economy.… Continue Reading

    EIA – Electric Power Annual 2010

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    Electric Power Annual 2010: “The EPA 2010 is being published in a more limited set of formats, reflecting budget limitations and a transition to a new production method. Specific changes include: The EPA 2010 will be a compilation of Excel and PDF files for each individual table. HTML tables will not be available, at least… Continue Reading

    DoD IA Policy Chart – Build and Operate a Trusted Global Information Grid

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    “Building, operating and securing the Global Information Grid (GIG) for the Department of Defense is a complex and ongoing challenge. The Deputy Assistant Secretary of Defense (DASD) for Cyber Identity and Information Assurance has developed a strategy for meeting this challenge, which is available here: Build and Operate a Trusted GIG – Identity & Information… Continue Reading

    Recent Open Access meeting focused on promoting Internet as medium for disseminating global knowledge

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    Jennifer Howard, Wired Campus: “Impact, not ideology, was the watchword at the Berlin 9 Open Access Conference, held…at the Howard Hughes Medical Institute {Betheda, MD, November 9-10, 2011] The 260 high-level researchers, fund providers, and open-access advocates who attended didn’t waste time bashing publishers who keep research behind paywalls. (Some commercial publishers, including Elsevier, attended.)… Continue Reading

    Attorney General Guidelines for Victim and Witness Assistance, 2011

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    Attorney General Guidelines for Victim and Witness Assistance, 2011: “This updated edition of the Attorney General Guidelines for Victim and Witness Assistance reflects current statutory provisions, recognizes the technological and legal changes that have taken place since the previous Guidelines were promulgated, and incorporates best practices that will benefit victims and enhance investigations and prosecutions.” Continue Reading