Switzerland : 2014 Article IV consultation, staff report, press release, and statement by the Executive Director for Switzerland.

Switzerland : 2014 Article IV consultation, staff report, press release, and statement by the Executive Director for Switzerland.

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Bibliographic Details
Imprint:Washington, D.C. : International Monetary Fund, ©2014.
Description:1 online resource (53 pages) : color illustrations.
Language:English
Series:IMF country report ; no. 14/142
IMF country report ; no. 14/142.
Subject:
International Monetary Fund -- Switzerland.
International Monetary Fund.
Economic development -- Switzerland.
Housing -- Switzerland.
Monetary policy -- Switzerland.
Financial institutions -- Switzerland.
Economic indicators -- Switzerland.
Economic development.
Economic indicators.
Financial institutions.
Housing.
Monetary policy.
Switzerland.
Electronic books.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12502927
Hidden Bibliographic Details
Varying Form of Title:Title from p. 2 of pdf: Switzerland, staff report for the 2014 Article IV consultation
Other authors / contributors:International Monetary Fund.
ISBN:9781498312967
1498312969
9781498362238
1498362230
Notes:"May 2014."
"April 15, 2014"--Page 2 of pdf.
Online resource; title from pdf title page (IMF Web site, viewed June 10, 2014).
Summary:"The Swiss economy has regained momentum, but inflation remains close to zero. There has been no new foreign exchange intervention, but past safe haven inflows have not yet reversed despite improved market confidence toward the euro area and tapering in the United States. Notwithstanding policy action, risks in the mortgage market remain elevated. The large systemic banks have continued to strengthen capital and restructure their business models, but the financial sector reform agenda is still incomplete. Exchange Rate Policy: The exchange rate floor remains a necessary element of the monetary policy framework, as inflation is still close to the bottom of the range compatible with the Swiss National Bank's (SNB) definition of price stability and renewed exchange rate appreciation, as might arise from a new bout of safe haven inflows, would quickly bring back deflationary pressures. The Mortgage Market: With monetary conditions remaining accommodative and housing prices growing faster than incomes, measures to curb mortgage demand especially from the more vulnerable households need to be strengthened. The Banking Sector: Cooperation agreements with key foreign supervisors need to be reached to make the large banks resolvable. More resources are required for prudential bank supervision, and closer oversight and guidance to auditors performing supervisory audits are necessary. Deposit insurance should be brought in line with emerging international best practices"--Abstract.
Other form:Print version: Switzerland : 2014 article iv consultation-staff report; press release; and statement by the executive director for Switzerland. Washington, District of Columbia : International Monetary Fund, ©2014 approximately 54 pages IMF country report ; Number 14/142 9781498312967
Table of Contents:
  • Cover; CONTENTS; CONTEXT; RECENT ECONOMIC DEVELOPMENTS AND OUTLOOK; A. GDP Growth Has Accelerated and Inflation Is Still Close to Zero; B. Pressures in the Housing Market Are Proving Difficult to Contain; C. The Fiscal Deficit and Debt Are Low; OUTLOOK AND RISKS; POLICY DISCUSSIONS; A. External Sector Assessment; B. Monetary and Exchange Rate Policies; C. The Housing Market; BOX; 1. Measures to Address Developments in the Housing and Mortgage Market; D. Financial Stability and Oversight.
  • E. Medium-Term Prospects: Immigration, Population Aging, and International Initiatives on Corporate Tax Compliance and Bank SecrecySTAFF APPRAISAL; KEY FSAP RECOMMENDATIONS; AUTHORITIES RESPONSE TO PAST IMF POLICY RECOMMENDATIONS; RISK Assessment MATRIX; FIGURES; 1. Recent Economic Developments; 2. Monetary and Exchange Rate Policies; 3. House Price Indicators During Boom and Bust Episodes in OECD Countries; 4. External Account and Related Peculiarities; 5. Systemic Bank Indicators; TABLES; 1. Selected Economic Indicators, 2010-15; 2. Balance of Payments, 2008-15.
  • 3. General Government Finances, 2010-154. SNB Balance Sheet; 5. Financial Soundness Indicators; 6. General Government Operations, 2006-10; 7. Switzerland Federal Government Debt Sustainability Analysis (DSA)-Baseline Scenario; 8. Switzerland Federal Government Composition of Public Debt and Alternative Scenarios; ANNEXES; 1. Surges in Global Financial Volatility and the Swiss Franc; 2. A New Approach to Immigration?; CONTENTS; FUND RELATIONS; STATISTICAL ISSUES.

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