IMF Working Papers

Financial Innovation and Statistical Methodological Guidance—Key Considerations

By Joe Crowley, Marco A Espinosa-Vega, Elizabeth Holmquist, Ken Lamar, Emmanuel Manolikakis, James McAndrews, Holt Williamson

October 28, 2022

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Joe Crowley, Marco A Espinosa-Vega, Elizabeth Holmquist, Ken Lamar, Emmanuel Manolikakis, James McAndrews, and Holt Williamson. Financial Innovation and Statistical Methodological Guidance—Key Considerations, (USA: International Monetary Fund, 2022) accessed December 21, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Financial risks outside of the traditional banking sector can quickly spread throughout financial systems and lead to disruptions in the real economy. A lack of adequately detailed financial sector statistics can obscure buildups of risks from policymakers and hinder their ability to effectively respond once these risks materialize. In response, authorities worldwide, international organizations, including the IMF, and the Group of 20 (G-20), called for financial reforms and launched efforts to gather information on nonbank financial intermediary (NBFI) activities—including the Data Gaps Initiative (DGI) and enhanced Financial Stability Board (FSB) NBFI data collection. While these initiatives represent significant strides to strengthen NBFI’s data collection, there continue to be gaps in the conceptual and methodological guidance in the financial and macroeconomic statistics manuals on which the FSB, DGI, and national authorities rely; gaps that are increasing in light of increased globalization and the financial sector digitalization. This paper proposes conceptual guidance to help bridge existing and emerging gaps.

Keywords: Crypto Assets, Market-Based Finance, Non Bank Financial Intermediation, System of National Accounts

Publication Details

  • Pages:

    63

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2022/212

  • Stock No:

    WPIEA2022212

  • ISBN:

    9798400224157

  • ISSN:

    1018-5941