United Kingdom: Financial Sector Assessment Program-Systemic Stress, and Climate-Related Financial Risks: Implications for Balance Sheet Resilience

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2022 Issue 102

Publication date: April 2022

ISBN: 9798400207181

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Topics covered in this book

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Finance , Money and Monetary Policy , International - Economics , bank solvency stress test result , fair value , resolvability Assessment framework , D , solvency stress tests result , feedback effect , Macroprudential solvency stress tests , Mortgages , Insurance companies , Stress testing , Insurance , Credit , Global

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Summary

The FSAP started in an important macro-financial phase right after the second Covid wave and a third lockdown. The balance sheet resilience of major institutional sectors was at the center of policy considerations. Against this backdrop, the FSAP analyzed the pandemic’s potential “scarring” of banks, insurers, corporates, and households balance sheets, focusing on the interplay of macro-financial/structural conditions and financial vulnerabilities.