Page 38 - Annual Report 2016 EN

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MACROPRUDENTIAL and the Qatar Financial Centre, based on the following structure:

ANALYSIS • Global developments in select advanced economies and
emerging markets;

• Regional developments in MENA;
In 2016, the Regulatory Authority’s macroprudential framework and
oversight capabilities continued to provide key insights to its risk- • Domestic developments; and
based supervision framework at the microprudential level. • Qatar Financial Centre developments.

In considering risks and trends from a macroprudential perspective, In the six-month period that ended 30 September 2016, significant
the Regulatory Authority continues to identify relevant emerging political uncertainties materialised, with the impact yet to crystallise
financial stability risks by monitoring developments and practices in the global and regional economies. With the added political
across the global, regional and domestic financial industries. complexities arising globally, existing risks have become more pro-
nounced with important implications for financial stability.
The Macroprudential Review The Regulatory Authority assessed the following risks to global
financial stability as important to monitor significant trends and
The Regulatory Authority supplements the microsupervision frame- developments:
work with routine horizontal, or cross-firm, reviews to monitor industry • The implications of low growth of the global economy, the
development and trends across the financial institutions and insur- slowing of the Chinese economy, and the rapid growth of the
ance firms it regulates. In pursuit of this objective, the department shadow banking sector;
prepares a semi-annual report, The Macroprudential Review, for
the six-month periods ending 31 March and 30 September. The • The effect of unconventional monetary policy, due to an era
report provides an overview of key macroeconomic, financial and of low inflation and low interest rates;
political developments globally. The approach to the report aims to • The results of large-scale cyberattacks;
build the relevance and significance of the global macroeconomic
and financial aspects within the context of the GCC region, Qatar, • The consequences of Brexit;