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Identifying and assessing systemic risks in Ireland: a review of the Central Bank’s toolkit

Niamh Hallissey, Neill Killeen and Michael Wosser
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Niamh Hallissey: Central Bank of Ireland
Michael Wosser: Central Bank of Ireland

No 16/FS/22, Financial Stability Notes from Central Bank of Ireland

Abstract: This Note describes the Central Bank of Ireland’s overall approach and toolkit for assessing systemic risks in Ireland. The aim of systemic risk assessments is to identify and measure the potential for negative macro-financial outcomes (“tail risks”) to occur in the future. Evaluating the nature and magnitude of risks facing the financial system in a forward-looking, systematic manner is an important input to the setting of macroprudential policy. There are four main elements to the risk identification and assessment framework including (i) the monitoring of selected indicators, (ii) the development of analytical tools and modelling approaches, (iii) qualitative tools such as the use of surveys and engagement with stakeholders and (iv) targeted deep dives on specific topics to complement regular analysis. The risk assessment draws on these different elements to inform judgements on key risks facing the financial system in Ireland.

Date: 2022-11
New Economics Papers: this item is included in nep-cba and nep-rmg
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