Ireland: Financial Sector Assessment Program: Technical Note-Asset Management and Financial Stability
IMF Staff Country Reports, September 29, 2016
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- Ireland: Financial Sector Assessment Program: Technical Note-Asset Management and Financial Stability
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Bibliographic details
- Published: September 29, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475542189.002
Executive summary
- Discusses findings and recommendations from the Financial Sector Assessment Program for Ireland in the areas of asset management and financial stability.
- Most of the potential avenues for domestic financial instability from Irish-domiciled money market funds and investment funds appear to be contained.
- The potential for destabilizing spillovers from Irish-domiciled money market and investment funds to the domestic economy appears limited.
- The Central Bank of Ireland has made important progress in addressing long-standing data gaps as they pertain to the asset management industry.
- A number of initiatives could be helpful in further strengthening industry oversight.
Key findings on risks and spillovers
- Domestic instability from Irish-domiciled money market funds and investment funds: most potential avenues appear to be contained.
- Cross-border or domestic spillovers: potential for destabilizing spillovers to the domestic economy appears limited.
- Data gaps: historically long-standing data gaps existed for the asset management industry; the Central Bank of Ireland has made important progress in addressing these gaps.
Policy implications and recommended initiatives
- Strengthen industry oversight through a number of initiatives (unspecified in the summary), building on the Central Bank of Ireland’s progress on data.
- Continue initiatives aimed at closing remaining data gaps to enhance monitoring and macroprudential assessment of asset management activities.
- Maintain focus on channels that could transmit stress from money market funds and investment funds to the domestic economy, despite current assessments of containment and limited spillover potential.
Subjects and keywords (as listed)
- Subjects: Asset and liability management, Asset management, Banking, Bonds, Financial institutions, Hedge funds, Mutual funds, Securities, Shadow banking
- Keywords: asset, Asset management, Bonds, central bank of Ireland, CIV assets, CNAV MMFs, collective investment vehicles, CR, data strategy, domiciled MMFs, Global, government MMFs, hedge fund, Hedge funds, imprudent asset-liability management, Ireland, ISCR, liquidity risk, Mutual funds, Securities