IMF Global Financial Stability Report
1. Wide start of news briefing on Global Financial Stability Report
2. Wide of IMF officials and photographer
3. SOUNDBITE: (English) Tobias Adrian, IMF Director of the Monetary and Capital Markets Department:
“Our key message is that this is no time for complacency. Action is required now because vulnerabilities are building. These vulnerabilities could put growth at risk in the future."
4. Mid journalists
5. SOUNDBITE: (English) Tobias Adrian, IMF Director of the Monetary and Capital Markets Department:
"Capital liquidity and resolution is making the core banking system much more resilient and much more stable. At the same time, there are, there might be some unintended consequences of those regulations. And internationally, regulators are starting to evaluate the impacts of the regulatory reforms on credit supply and liquidity."
6. Mid journalists
7. SOUNDBITE: (English) Tobias Adrian, IMF Director of the Monetary and Capital Markets Department:
"We do feel that the current stance on monetary policy in the major economies is appropriate. In the U.S., the euro area and Japan, inflation remains below target. And, in some of those economies there are other signs of slack. So that further accommodative monetary policy is the right stance. Of course, as we’re pointing out in the Global Financial Stability Report, this accommodative stance on monetary policy is also fueling reaching for yield. And, our recommendation is to use macro-prudential policy tools to address the buildup of vulnerabilities."
8. Wide journalists
9. SOUNDBITE: (English) Matthew Jones, IMF Assistant Director of the Monetary and Capital Markets Department:
“Regulators in China have taken a number of measures in the past 12 months with better coordination across agencies to address many of these risks. And, this is very welcome, because it’s had a significant impact on slowing down some of the shadow-banking growth and reduce reliance on wholesale funding. But, these vulnerabilities overall will be difficult to address without slower credit growth.”
10. Wide end of news conference
Brian WalkerMedia Relations OfficerUnited StatesBWalker@imf.org+1 (202) 623-7381+1 (202) 286-5839