## 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

_IMF Staff Country Reports, June 8, 2005_

## Source details

**Canonical URL:** [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](https://www.imf.org/en/publications/cr/issues/2016/12/31/france-financial-sector-assessment-program-technical-notes-stress-testing-methodology-and-18299)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/france-financial-sector-assessment-program-technical-notes-stress-testing-methodology-and-18299/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/france-financial-sector-assessment-program-technical-notes-stress-testing-methodology-and-18299/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/france-financial-sector-assessment-program-technical-notes-stress-testing-methodology-and-18299/bundle-manifest.json)

## Bibliographic details
- Published: June 8, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451813630.002

---

### Stress testing methodology and results
- 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.

### Integration into global financial markets
- 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."

### Public intervention in financial markets and obstacles to monetary transmission
- 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.

### Key findings and subject coverage
- 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.

---

## Content in this bundle

- **_cr05185**
  - [_cr05185 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2005/_cr05185.pdf.md){rel="alternate" type="text/markdown"}
  - [_cr05185 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2005/_cr05185.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/france-financial-sector-assessment-program-technical-notes-stress-testing-methodology-and-18299_