United Kingdom: Financial Sector Assessment Program-Financial Stability and Managing Institutional, Technology, and Market Transitions

International Monetary Fund

No 2022/107, IMF Staff Country Reports from International Monetary Fund

Abstract: There has been a very smooth post-Brexit transition, with no material disruption nor any crystalized financial stability risks. This was the result of the U.K. authorities’ (and in some cases the EU authorities) and firms’ extensive preparations. The U.K. authorities have been proactively engaging with the industry, monitored risks, and consistently provided necessary legal certainty in a timely manner. This approach should continue, to the extent that any risks and uncertainties from Brexit remain.

Keywords: priority exit; Libor Transition strategy; U.K. market; disclosures of U.K.; exits risk; Interbank rates; Financial sector stability; Virtual currencies; Central Bank digital currencies; Global; Europe (search for similar items in EconPapers)
Pages: 85
Date: 2022-04-08
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