Global Financial Stability Report: Market Developments and Issues, March 2003 (World Economic and Financial Surveys)

This issue of the "Global Financial Stability Report" (GFSR) marks the beginning of a new semiannual frequency for the publication. First launched in March 2002, the GFSR provides a regular assessment of global financial markets and identifies potential systematic weaknesses that could lead to crises. The report seeks to play a role in preventing these crises before they erupt thus contributing to global financial stability and sustained growth. This issue draws, in part, on a series of informal discussions with commercial and investment banks, securities firms, asset management companies, insurance companies, pension funds, stock and futures exchanges, and credit rating agencies in Brazil, Chile, China, Hong Kong SAR, Hungary, Japan, Poland, Russia, Singapore, Thailand, the United Kingdom, and the United States. The report reflects mostly information available up to February 28, 2003.