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 potentially undermine the stability of the financial system.
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.
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.
Good luck with that. I hope that such surveys are made in all honesty and they produce the desired results also.