Monetary Innovation and Statistical Methodological Steerage—Key Issues
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Abstract:
Monetary dangers outdoors of the standard banking sector can shortly unfold all through monetary methods and result in disruptions in the true financial system. A scarcity of adequately detailed monetary sector statistics can obscure buildups of dangers from policymakers and hinder their capacity to successfully reply as soon as these dangers materialize. In response, authorities worldwide, worldwide organizations, together with the IMF, and the Group of 20 (G-20), referred to as for monetary reforms and launched efforts to collect info on nonbank monetary middleman (NBFI) actions—together with the Knowledge Gaps Initiative (DGI) and enhanced Monetary Stability Board (FSB) NBFI knowledge assortment. Whereas these initiatives characterize important strides to strengthen NBFI’s knowledge assortment, there proceed to be gaps within the conceptual and methodological steerage within the monetary and macroeconomic statistics manuals on which the FSB, DGI, and nationwide authorities rely; gaps which can be rising in mild of elevated globalization and the monetary sector digitalization. This paper proposes conceptual steerage to assist bridge current and rising gaps.
