United Kingdom: Financial Sector Assessment Program-Vulnerabilities in NBFIs, Market-Based Finance, and Systemic Liquidity

April 8, 2022

Preview Citation

Format: Chicago

United Kingdom: Financial Sector Assessment Program-Vulnerabilities in NBFIs, Market-Based Finance, and Systemic Liquidity, (USA: International Monetary Fund, 2022) accessed December 21, 2024

Summary

The Financial Sector Assessment Program (FSAP) carried out a focused review of the non-banks in the United Kingdom and systemic liquidity. It reviewed five areas: (i) The overall NBFI system, its links to banks and the rest of the world; (ii) NBFI direct lending to the U.K. economy; (iii) Sterling investment funds (OEFs, AIFs, and MMFs); (iv) CCPs; and (v) Systemic liquidity. The NBFIs are defined as all non-deposit-taking corporations, listed in Figure 1, and with the following limited coverage: Pension Funds and Insurance Companies are covered to the extend they lend to the economy and interact with CCPs; Investment funds only to the extent of Sterling Funds; and broker-dealers only to the extent they interact with CCPs. Regulatory aspects of NBFIs are covered in a parallel Technical Note (TN).

Subject: Asset and liability management, Corporate bonds, Financial institutions, Financial sector policy and analysis, Financial statements, International organization, Liquidity, Monetary policy, Nonbank financial institutions, Public financial management (PFM), Stress testing

Keywords: Central bank liquidity Support, Corporate bonds, Europe, Financial leverage, Financial statements, FX swap lines, Global, Liquidity, Liquidity mismatch, Market liquidity, Nonbank financial institutions, Stress testing

Publication Details

Pages:

62
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2022/103
Stock No:

1GBREA2022004
ISBN:

9798400206580
ISSN:

1934-7685

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