Cover IMF Staff Country Reports
Finland: Financial Sector Assessment Program-Technical Note on Systemic Risk Analysis and Stress Testing
Author:
International Monetary Fund. Monetary and Capital Markets Department
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2023: Issue 061
Language:
English
Publication Date:
01 Feb 2023
DOI:
https://doi.org/10.5089/9798400231155.002
ISBN:
9798400231155
ISSN:
1934-7685
Pages:
61
Keywords:
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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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2023: Issue 061