SBP launches SRS for ensuring stability of financial system

Our Special Correspondent

Karachi

State Bank of Pakistan (SBP), being the central bank and banking supervisor, plays a pivotal role in ensuring the stability of country’s financial system.
In pursuance of SBP Vision 2020, the central bank is committed to strengthening its financial stability regime to identify and manage systemic risks arising from within and outside the country’s financial system.
The assessment of key risks and vulnerabilities are regularly reported in the flagship annual publication, “Financial Stability Review (FSR)” and the “Quarterly Performance Review of the Banking Sector”.
In order to augment this assessment, 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 potentially undermine the stability of the financial system.
Furthermore, the survey aims at evaluating the respondents’ confidence in the stability of the financial system as a whole and banking system in particular.
The SRS 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 SRS participants will include senior executives of commercial banks, development finance institutions, microfinance banks, exchange companies, insurance companies, asset management companies, renowned academicians and business and economy journalists. It will be conducted twice a year and the findings of this survey will be used by the SBP to strengthen its risk assessment of the financial system and take appropriate mitigating measures.

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