Ireland: Financial Sector Assessment Program-Technical Note on Macroprudential Policy Framework and Tools
IMF Staff Country Reports, September 9, 2022
Source details
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- Ireland: Financial Sector Assessment Program-Technical Note on Macroprudential Policy Framework and Tools
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Bibliographic details
- Published: September 9, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400217876.002
Summary and context
- Ireland is a small open economy that is part of a monetary union and has a major financial system.
- Within the Euro Area (EA), Ireland comprises a relatively small proportion of aggregate GDP (3.4 percent), of which a significant portion is attributable to foreign-owned multinational enterprises (MNEs).
- The Irish financial system holds assets of EUR 7.9 trillion, over 18 times GDP.
- Since monetary policy is carried out by the European Central Bank (ECB) for the entire EA, macroprudential policy has the potential to play a critical stabilizing role for the Irish financial system.
Major themes and focus areas
- Credit
- Financial institutions
- Financial sector policy and analysis
- Financial sector stability
- Housing prices
- Macroprudential policy instruments
- Monetary policy
- Mortgages
- Money
- International organization
Keywords and specific vulnerabilities noted
- bank funding
- bank lending
- bank sector
- commercial real estate
- CRE market vulnerability
- Credit
- Financial sector stability
- Global
- Housing prices
- lending to SME
- Macroprudential policy instruments
- Mortgages
Content in this bundle
- Executive Summary