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This paper suggests a strategy designed to make best use of the available quantitative techniques of financial sector assessment. It incorporates early warning systems, financial sector forecasts, stress tests for systemically important financial institutions, interbank contagion analysis, and corporate and household financial indicators. It will seldom be possible to employ every one of these techniques, but the wider the range of methodologies used, the greater may be the insight into the strengths and vulnerabilities of the financial sector. The quantitative assessment is always complemented by a qualitative assessment, including reviews of relevant standards and codes.

Risk management. --- Financial crises. --- Credit --- Credit management --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Insurance --- Management --- Management. --- Banks and Banking --- Finance: General --- Industries: Financial Services --- Financial Institutions and Services: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- General Financial Markets: General (includes Measurement and Data) --- Financial Institutions and Services: Government Policy and Regulation --- General Financial Markets: Government Policy and Regulation --- Finance --- Banking --- Stress testing --- Financial sector --- Financial soundness indicators --- Financial Sector Assessment Program --- Financial sector policy and analysis --- Economic sectors --- Financial sector stability --- Financial services industry --- Financial risk management --- Banks and banking --- United Kingdom

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Statistical measures of the volatility of exchange rates, interest rates, and stock prices are estimated for a number of countries. Periods of high volatility are identified and compared with periods of financial difficulty. The results indicate that GARCH models of volatility could be potentially useful in assessing financial soundness. Daily data are more revealing, but monthly series allow comparisons among many countries. Country specific models may be needed for more reliable inference.

Finance: General --- Financial Risk Management --- Foreign Exchange --- Macroeconomics --- Financial Markets and the Macroeconomy --- Financial Institutions and Services: Government Policy and Regulation --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Price Level --- Inflation --- Deflation --- General Financial Markets: General (includes Measurement and Data) --- Financial Crises --- Currency --- Foreign exchange --- Finance --- Economic & financial crises & disasters --- Exchange rates --- Asset prices --- Stock markets --- Financial crises --- Capital markets --- Prices --- Financial markets --- Stock exchanges --- Capital market --- Mexico

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This paper discusses the institutional arrangements for exchange rate targeting in Barbados and the critical role they played in the policy response to its balance of payments crisis of 1991-92. The framework featured ongoing cooperation between the central bank and the Ministry of Finance, and the use of a forecast model which highlighted the size of fiscal adjustment needed to secure foreign reserves adequate to maintain the exchange rate peg.

Banks and Banking --- Foreign Exchange --- Inflation --- Macroeconomics --- Public Finance --- Comparative or Joint Analysis of Fiscal and Monetary Policy --- Stabilization --- Treasury Policy --- Monetary Policy --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Price Level --- Deflation --- Fiscal Policy --- Banking --- Currency --- Foreign exchange --- International reserves --- Fiscal consolidation --- Central banks --- Prices --- Fiscal policy --- Foreign exchange reserves --- Banks and banking --- Barbados