IMF Market Insights

Have you read the latest IMF Monetary and Capital Markets Capacity Development Annual Report? Discover how IMF capacity development supported member countries in strengthening monetary and financial stability during a year of uncertainty and rapid change. Highlights from the report: • Over 1,000 tailored activities delivered to meet country needs • Expanded support in emerging areas such as digital money • Enhanced resilience through advice on financial supervision, central banking, debt management, and crisis response • Strengthened collaboration with donors and country authorities to maximize impact The report also features field insights and candid country cases, showing how IMF expertise translates into practical solutions for our member countries. Download the report here: https://lnkd.in/e-VpfwSF

What’s changed since the last IMF Global Financial Stability Report? While financial markets have stayed calm amid ongoing trade and fiscal uncertainties, underlying dynamics are shifting in ways that could challenge system resilience. Risk asset prices are historically high, and governments are issuing more debt. Nonbank financial intermediaries—from private credit funds to stablecoins—continue to grow and deepen their ties with banks. Download our October 2025 IMF Global Financial Stability Report: https://lnkd.in/e6ZF9UGy

Nonbank financial institutions are increasingly important intermediaries in private credit, real estate, and crypto markets, and their increasing interconnectedness with banks could exacerbate shocks.     See our IMF blog detailing why policymakers should strengthen oversight of nonbanks—based on Chapter 1 of our latest Global Financial Stability Report: https://lnkd.in/eRmwJsMR Silvia L. Ramirez, Mindaugas Leika, Yiran L.

Artificial Intelligence for Financial Supervision   Financial supervisory authorities are under growing pressure to modernize their oversight tools as financial institutions accelerate digital transformation. A new IMF staff working paper outlines how Artificial Intelligence (AI) can help authorities strengthen supervision and risk analysis while managing emerging challenges.   This paper presents a project management framework tailored for supervisory authorities implementing AI. It identifies key prerequisites for success—such as robust governance, sufficient resources, and organizational readiness—and emphasizes the need to ensure explainability, mitigate bias, and promote collaboration among stakeholders.   AI adoption offers opportunities to improve data management, risk monitoring, and conduct supervision. Yet uneven adoption across countries highlights the importance of investing in capacity building and digital infrastructure to ensure all authorities can benefit from new technologies.   Download the paper: https://lnkd.in/eK7dRCjj Authors: Parma Bains, Gabriela Conde, CFA, FRM, RAVIKUMAR RANGACHARY and Ebru Sonbul Iskender,Ph.D.   Disclaimer: The views expressed in IMF Working Papers are those of the authors and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Highlights from the IMF–IAIS High-Level Panel on “Structural Shifts in Life Insurance and Implications for Financial Stability.”   The IMF and the IAIS - International Association of Insurance Supervisors (IAIS) co-hosted a high-level discussion on the structural changes in the life insurance sector and the potential financial stability implications.   Opening remarks by Shigeru Ariizumi, Chair of the IAIS Executive Committee, underscored the importance of global coordination and sound risk management as insurers increase their exposure to alternative assets and asset-intensive reinsurance. The event was moderated by Tobias Adrian, IMF Financial Counsellor and Director of the Monetary and Capital Markets Department. Panelists discussed the benefits and vulnerabilities arising from these trends, including valuation, liquidity, and supervisory challenges. Replay the event: https://lnkd.in/eamSqYE8   We thank the panelists for their participation: • Jonathan Dixon, Secretary General, IAIS • Doriana Gamboa, Managing Director, Fitch Ratings • Ricardo Garcia, Managing Director, Bermuda Monetary Authority • Petra Hielkema (she / her), Chairperson, European Insurance and Occupational Pensions Authority (EIOPA) • Douglas Niemann, Chief Risk Officer, Athene Holding Ltd • Scott White, Insurance Commissioner, Virginia State Corporation Commission   Also grateful to our partners at the IAIS for advancing this important dialogue on financial stability.

ICYMI: Watch the event replay here - https://lnkd.in/gwMYcRFu

Financial crime, fraud, and corruption are not abstract threats—they are concrete barriers to growth and stability. Join us for an in-depth conversation on the macroeconomic and financial stability implications of financial crime and fraud, and policy and institutional responses to enhance governance, combat financial crime and safeguard financial integrity. The event will be livestreamed tomorrow, Thursday, October 16, at 1:15PM: https://lnkd.in/eRuBvPxB 

Financial markets appear calm, yet there are underlying shifts. The latest Global Financial Stability Report identifies three key vulnerabilities—stretched valuations, rising sovereign debt, and stronger interconnections between banks and nonbanks—that could interact and test the resilience of the financial system. In this video, Tobias Adrian, IMF Financial Counsellor and Director of the Monetary and Capital Markets Department, explains what's behind these shifts and how policymakers can reinforce financial stability. Read the latest GFSR report: https://lnkd.in/e_gDKZFD

How has the financial stability landscape changed since the last Global Financial Stability Report?  While financial markets have stayed calm amid ongoing trade and fiscal uncertainties, underlying dynamics are shifting in ways that could challenge system resilience. Risk asset prices are historically high, and governments are issuing more debt. Nonbank financial intermediaries—from private credit funds to stablecoins—continue to grow and deepen their ties with banks. Read more in our October 2025 Global Financial Stability Report: https://lnkd.in/e_gDKZFD  Jason Wu, Charles Cohen, Thordur Jonasson, Caio Ferreira, Mario Catalán, Andrea Deghi, Tomohiro Tsuruga, ARINDAM ROY, Patrick Schneider, CFA, John Caparusso, Yuhua Cai, Sally Chen, Yingyuan Chen, Timothy C., Kay Chung, Fabio Cortes, Xiaodan Ding, Gonzalo Fernandez Dionis, CFA, Andrew A. Ferrante, Deepali Gautam, Bryan Gurhy, Zixuan Huang, Esti Kemp, Johannes K., Harrison Kraus, Xiang-Li Lim, Corrado Macchiarelli, Taneli Mäkinen, Srobona Mitra, Benjamin Mosk, PhD, CFA, Kleopatra Nikolaou, Sonal Patel, Silvia L. Ramirez, Yuan Tian, Jeff Williams, Dmitry Y., Mustafa Yasin Yenice, Xuege Zhang, Yuchen Zhang; Srujana Tyler