Finland:Financial Sector Assessment Program-Technical Note on Systemic Risk Analysis and Stress Testing

Finland: Financial Sector Assessment Program-Technical Note on Systemic Risk Analysis and Stress Testing
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Volume/Issue: Volume 2023 Issue 061
Publication date: February 2023
ISBN: 9798400231155
$20.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , Economics- Macroeconomics , Money and Monetary Policy , International - Economics , error correction Model , risk projection , interest income , liquidity coverage Analysis , sensitivity analysis result , Stress testing , Commercial banks , Liquidity requirements , Solvency stress testing , Credit risk , Global

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Summary

Finland is a small open economy that is significantly exposed to global financial and economic conditions. Following the Global Financial Crisis (GFC), Finland entered a long recession led by the decline of its information and communications technology (ICT) sector. With the implementation of some structural reforms, Finland’s competitiveness improved, as did growth and employment, albeit at a lower rate of growth. The economy was less significantly affected by the COVID-19 pandemic relative to other economies, thanks to its low exposure to service-intensive economic sectors, fiscal policy, and other interventions. However, Finland is now navigating a weaker economic outlook given the war in Ukraine, despite limited direct exposures to Russia.