State Bank launches systemic risk survey

KARACHI: The State Bank of Pakistan (SBP) has rolled out a Systemic Risk Survey (SRS) to gauge the views of market participants and experts about various existing and emerging risks that can undermine the stability of the financial system.

The SBP launched the survey to augment the assessment of key risks and vulnerabilities that are regularly reported in the Financial Stability Review (FSR) and the Quarterly Performance Review of the Banking Sector, a statement said on Wednesday.

The survey aims at evaluating the respondents’ confidence in the stability of the financial system as a whole and banking system in particular, the central bank said.

The Systemic Risk Survey is a market intelligence tool, used by central banks around the world, whereby feedback from various market participants and experts regarding their risk perceptions and confidence in the stability of the financial system is sought, the central bank said.

The Systemic Risk Survey participants will include senior executives of commercial banks, development finance institutions, microfinance banks, exchange companies, insurance companies, asset management companies, renowned academicians and business /economy journalists.

It will be conducted twice a year and the findings of this survey will be used by the State Bank of Pakistan to strengthen its risk assessment of the financial system and take appropriate mitigating measures.

Under the Vision 2020, the State Bank of Pakistan is committed to strengthen its financial stability regime to identify and manage systemic risks arising from within and outside the country’s financial system.