Cover IMF Staff Country Reports
United Kingdom: Financial Sector Assessment Program-Financial System Stability Assessment
Author:
International Monetary Fund. Monetary and Capital Markets Department
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2022: Issue 057
Language:
English
Publication Date:
23 Feb 2022
DOI:
https://doi.org/10.5089/9798400203268.002
ISBN:
9798400203268
ISSN:
1934-7685
Pages:
94
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
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2022: Issue 057