France: Financial Sector Assessment Program—Technical Notes—Stress Testing Methodology and Results; Integration into Global Financial Markets; and Public Intervention in Financial Markets—Obstacles to Monetary Transmission

International Monetary Fund

No 2005/185, IMF Staff Country Reports from International Monetary Fund

Abstract: These Technical Notes on France explain integration of global financial markets. The stress tests for the France Financial Sector Assessment Program (FSAP) were designed to yield as comprehensive and detailed a picture as possible within the constraints of the approach. Retail activity by foreign banks in France is small, but significant. The financial landscape in France remains characterized by a large number of idiosyncrasies that affect monetary transmission. Macroeconometric models point to a smaller reaction to monetary policy in France than in other large euro-area economies.

Keywords: ISCR; CR; rate; French; bank; yield; policy rate; market volatility; credit rate; bank lending; market commentator; bank subsidiary; Central bank policy rate; Stress testing; Insurance companies; Stock markets; Insurance; Global; Europe (search for similar items in EconPapers)
Pages: 121
Date: 2005-06-08
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