United Kingdom: Financial Sector Assessment Program-Financial System Stability Assessment

International Monetary Fund

No 2022/057, IMF Staff Country Reports from International Monetary Fund

Abstract: The U.K. financial sector is globally systemic, open, and complex. It has weathered the COVID-19 pandemic fittingly, thanks to the post-GFC reforms, a proactive macroprudential stance, and an effective multipronged response to maintain financial stability. Brexit uncertainties are being handled appropriately as the U.K. and EU authorities and the financial industry collaborate to prevent undesirable financial stability outcomes. The endpoint of the pandemic remains unclear, as does the actual impact on the financial system once support measures wane. At this juncture, therefore, financial stability conditions in the United Kingdom are being shaped by three key considerations: (i) the evolving U.K.-EU relationship on financial services; (ii) securing a sustainable and robust post-pandemic economic recovery; and (iii) successfully managing ongoing structural transitions.

Keywords: bank solvency stress test result; insurance liquidity risk analysis; U.K. financial system; insurance solvency stress test; D. insurance Sector solvency; Financial sector stability; Financial sector risk; Insurance companies; Nonbank financial institutions; Global; Financial Sector Assessment Program (search for similar items in EconPapers)
Pages: 94
Date: 2022-02-23
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