SBP launches Systemic Risk Survey

F.P. Report

KARACHI: State Bank of Pakistan (SBP), being the central bank and banking supervisor, plays a pivotal role in ensuring stability of Pakistan’s financial system. In pursuance of SBP Vision 2020, it 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.

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.

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/economy journalists. It will be conducted twice a year and the findings of this survey will be used by SBP to strengthen its risk assessment of the financial system and take appropriate mitigating measures.

The responses to the survey will be kept confidential and will not be shared with any other person or entity. Furthermore, those will not be used for any purpose other than the assessment of risks in the financial system.

Meanwhile, opening of designated bank branches on 20th and 21st for the Collection of Hajj Applications: State Bank of Pakistan, upon the request of Ministry of Religious Affairs and Interfaith Harmony, has directed 13 designated banks (viz. Habib Bank, United Bank, National Bank of Pakistan, MCB Bank, Allied Bank, Bank of Punjab, Bank Alfalah, Zarai Taraqiati Bank, Habib Metropolitan Bank, Meezan Bank, Dubai Islamic Bank, Faysal Bank Limited and Askari Bank Limited) to open their designated branches on 20th and 21st January 2018 (Saturday & Sunday) from 10:00 a.m. to 2:30 p.m. for the purpose of collecting Hajj applications along with dues from the intending pilgrims of Hajj 2018.