United Kingdom: Financial Sector Assessment Program-Macroprudential Institutional Framework-Technical Note

June 17, 2016

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Format: Chicago

United Kingdom: Financial Sector Assessment Program-Macroprudential Institutional Framework-Technical Note, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

This paper reviews the institutional framework for the conduct of macroprudential policy in the United Kingdom and the steps taken by the authorities to make the macroprudential framework operational. An effective macroprudential framework is crucial for the U.K. financial system to remain a global public good, given its size and systemic nature. The paper reviews how the institutional setup promotes the willingness to act, ability to act, effective cooperation, and accountability. A strong institutional framework is essential to ensure that macroprudential policy can work effectively. This review is also focused on the authorities’ processes for monitoring systemic risk (including beyond the core financial system), data gaps, and the U.K. macroprudential toolkit.

Subject: Banking, Financial sector policy and analysis, Financial sector risk, Financial sector stability, Financial services, Macroprudential policy, Systemic risk

Keywords: BoE governor, CR, Financial sector risk, Financial sector stability, Financial system, FPC code of conduct, FPC meeting, FPC meeting record, FPC member, Global, ISCR, Macroprudential policy, Systemic risk, U.K. authorities

Publication Details

Pages:

38
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/160
Stock No:

1GBREA2016008
ISBN:

9781475574920
ISSN:

1934-7685

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