{
  "title": "France: Financial Sector Assessment Program—Technical Notes—Stress Testing Methodology and Results; Integration into Global Financial Markets; and Public Intervention in Financial Markets—Obstacles to Monetary Transmission",
  "publication": "IMF Staff Country Reports, June 8, 2005",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/france-financial-sector-assessment-program-technical-notes-stress-testing-methodology-and-18299",
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  "summary": "These Technical Notes on France explain integration of global financial markets. The stress tests for the France Financial Sector Assessment Program (FSAP) were designed to yield as comprehensive and detailed a picture as possible within the constraints of the approach.",
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    {
      "heading": "Stress testing methodology and results",
      "content": "- The stress tests for the France Financial Sector Assessment Program (FSAP) were designed to yield \"as comprehensive and detailed a picture as possible within the constraints of the approach.\"\n- Emphasis on detailed, comprehensive coverage subject to methodological constraints inherent to the FSAP stress-testing approach."
    },
    {
      "heading": "Integration into global financial markets",
      "content": "- These Technical Notes explain integration of global financial markets as it relates to France.\n- Retail activity by foreign banks in France is described as \"small, but significant.\""
    },
    {
      "heading": "Public intervention in financial markets and obstacles to monetary transmission",
      "content": "- The financial landscape in France remains characterized by a large number of idiosyncrasies that affect monetary transmission.\n- Macroeconometric models point to a smaller reaction to monetary policy in France than in other large euro-area economies."
    },
    {
      "heading": "Key findings and subject coverage",
      "content": "- Subjects listed: Banking, Central bank policy rate, Consumption, Financial institutions, Financial markets, Financial sector policy and analysis, Financial services, Insurance, Insurance companies, Stock markets, Stress testing.\n- Keywords provided: bank; bank lending; bank subsidiary; Central bank policy rate; CR; credit rate; Europe; French; Global; Insurance; Insurance companies; ISCR; market commentator; market volatility; policy rate; rate; Stock markets; Stress testing; yield.\n\n---\n\n Content in this bundle\n\n- cr05185\n  - cr05185 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr05185 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: June 8, 2005",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451813630.002",
    "The stress tests for the France Financial Sector Assessment Program (FSAP) were designed to yield \"as comprehensive and detailed a picture as possible within the constraints of the approach.\"",
    "Emphasis on detailed, comprehensive coverage subject to methodological constraints inherent to the FSAP stress-testing approach.",
    "These Technical Notes explain integration of global financial markets as it relates to France.",
    "Retail activity by foreign banks in France is described as \"small, but significant.\"",
    "The financial landscape in France remains characterized by a large number of idiosyncrasies that affect monetary transmission.",
    "Macroeconometric models point to a smaller reaction to monetary policy in France than in other large euro-area economies.",
    "Subjects listed: Banking, Central bank policy rate, Consumption, Financial institutions, Financial markets, Financial sector policy and analysis, Financial services, Insurance, Insurance companies, Stock markets, Stress testing.",
    "Keywords provided: bank; bank lending; bank subsidiary; Central bank policy rate; CR; credit rate; Europe; French; Global; Insurance; Insurance companies; ISCR; market commentator; market volatility; policy rate; rate; Stock markets; Stress testing; yield.",
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