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

_IMF Staff Country Reports, June 17, 2016_

## Source details

**Canonical URL:** [United Kingdom: Financial Sector Assessment Program-Macroprudential Institutional Framework-Technical Note](https://www.imf.org/en/publications/cr/issues/2016/12/31/united-kingdom-financial-sector-assessment-program-macroprudential-institutional-framework-43971)

## Other formats

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## Bibliographic details
- Published: June 17, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475574920.002

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### Summary
- Reviews the institutional framework for the conduct of macroprudential policy in the United Kingdom and steps taken by the authorities to make the macroprudential framework operational.
- Emphasizes that an effective macroprudential framework is crucial for the U.K. financial system to remain a global public good, given its size and systemic nature.
- Focuses on how the institutional setup promotes the willingness to act, ability to act, effective cooperation, and accountability.
- Reviews authorities’ processes for monitoring systemic risk (including beyond the core financial system), data gaps, and the U.K. macroprudential toolkit.

### Major findings on institutional setup
- Institutional setup evaluated across four dimensions:
  - Willingness to act
  - Ability to act
  - Effective cooperation
  - Accountability
- A strong institutional framework is deemed essential to ensure that macroprudential policy can work effectively.

### Monitoring systemic risk and data
- Review includes the authorities’ processes for monitoring systemic risk, explicitly noting coverage "including beyond the core financial system."
- Identifies data gaps relevant to macroprudential surveillance and policy.

### Macroprudential toolkit
- Review focuses on the U.K. macroprudential toolkit available to authorities and its operationalization.

### Publication and metadata (key statistics)
- Pages: 38
- Volume: 2016
- Issue: 160
- Series: Country Report No. 2016/160
- DOI: https://doi.org/10.5089/9781475574920.002
- Stock No: 1GBREA2016008
- ISBN: 9781475574920
- ISSN: 1934-7685
- Publication date on landing page: June 17, 2016

### Subjects and keywords
- 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

*United Kingdom: Financial Sector Assessment Program-Macroprudential Institutional Framework-Technical Note — IMF Staff Country Reports 2016, 160 (2016).*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/united-kingdom-financial-sector-assessment-program-macroprudential-institutional-framework-43971_