{
  "title": "United Kingdom: Financial Sector Assessment Program-Stress Testing the Banking Sector-Technical Note",
  "publication": "IMF Staff Country Reports, June 17, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/united-kingdom-financial-sector-assessment-program-stress-testing-the-banking-sector-43974",
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  "summary": "This paper discusses how Financial Sector Assessment Program (FSAP) stress test assesses the resilience of the banking sector as a whole rather than the capital adequacy of individual institutions.",
  "publishDate": "2016-06-17",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Overview and Purpose",
      "content": "- Publication date: June 17, 2016\n- Pages: 91\n- Issue: 163\n- Volume: 2016\n- Series: Country Report No. 2016/163\n- DOI: https://doi.org/10.5089/9781484394120.002\n- ISBN: 9781484394120\n- ISSN: 1934-7685\n- Stock No: 1GBREA2016011\n- This paper discusses how the Financial Sector Assessment Program (FSAP) stress test assesses the resilience of the banking sector as a whole rather than the capital adequacy of individual institutions."
    },
    {
      "heading": "FSAP Stress Testing Approach (Macroprudential Focus)",
      "content": "- The FSAP approach to stress testing is essentially macroprudential: it focuses on resilience of the broader financial system to adverse macro-financial conditions rather than on resilience of individual banks to specific shocks.\n- The test ensures consistency in macroeconomic scenarios and metrics across firms to facilitate the assessment of the banking system as a whole.\n- Intended uses:\n  - To help country authorities identify key sources of systemic risk in the banking sector.\n  - To inform macroprudential policies to enhance the banking sector’s resilience to absorb shocks."
    },
    {
      "heading": "Key Concepts and Metrics Emphasized",
      "content": "- Focus on banking system resilience rather than individual institution capital adequacy.\n- Consistent macroeconomic scenarios and metrics applied across firms.\n- Emphasis on assessing systemic risk and informing macroprudential policy interventions."
    },
    {
      "heading": "Subjects and Keywords (as provided)",
      "content": "- Subjects: Banking; Credit risk; Financial crises; Financial regulation and supervision; Financial Sector Assessment Program; Financial sector policy and analysis; Solvency stress testing; Stress testing\n- Keywords: banking system; BoE scenario; cash flow; CR; Credit risk; Financial Sector Assessment Program; fixed income; Global; hurdle rate; interest rate; ISCR; money market; mortgage portfolio; single currency; Solvency stress testing; stress test; Stress testing; U.K. bank; U.K. leverage framework; U.K.-headquartered bank; yield curve"
    },
    {
      "heading": "Access and Formats",
      "content": "- Available on IMF eLibrary.\n- Format note on landing page: Download PDF; More Formats on IMF eLibrary; Order a Print Copy; Create Citation.\n\nInternational Monetary Fund. Monetary and Capital Markets Department \"United Kingdom: Financial Sector Assessment Program-Stress Testing the Banking Sector-Technical Note\", IMF Staff Country Reports 2016, 163 (2016).\n\n---\n\n Content in this bundle\n\n- cr16163 — Executive Summary and Key Findings\n  - cr16163 — Executive Summary and Key Findings (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr16163 — Executive Summary and Key Findings (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/united-kingdom-financial-sector-assessment-program-stress-testing-the-banking-sector-43974"
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    "Published: June 17, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484394120.002",
    "Publication date: June 17, 2016",
    "Pages: 91",
    "Issue: 163",
    "Volume: 2016",
    "Series: Country Report No. 2016/163",
    "DOI: https://doi.org/10.5089/9781484394120.002",
    "ISBN: 9781484394120",
    "ISSN: 1934-7685",
    "Stock No: 1GBREA2016011",
    "This paper discusses how the Financial Sector Assessment Program (FSAP) stress test assesses the resilience of the banking sector as a whole rather than the capital adequacy of individual institutions.",
    "The FSAP approach to stress testing is essentially macroprudential: it focuses on resilience of the broader financial system to adverse macro-financial conditions rather than on resilience of individual banks to specific shocks.",
    "The test ensures consistency in macroeconomic scenarios and metrics across firms to facilitate the assessment of the banking system as a whole.",
    "Intended uses:",
    "Focus on banking system resilience rather than individual institution capital adequacy.",
    "Consistent macroeconomic scenarios and metrics applied across firms.",
    "Emphasis on assessing systemic risk and informing macroprudential policy interventions.",
    "Subjects: Banking; Credit risk; Financial crises; Financial regulation and supervision; Financial Sector Assessment Program; Financial sector policy and analysis; Solvency stress testing; Stress testing",
    "Keywords: banking system; BoE scenario; cash flow; CR; Credit risk; Financial Sector Assessment Program; fixed income; Global; hurdle rate; interest rate; ISCR; money market; mortgage portfolio; single currency; Solvency stress testing; stress test; Stress testing; U.K. bank; U.K. leverage framework; U.K.-headquartered bank; yield curve",
    "Available on IMF eLibrary.",
    "Format note on landing page: Download PDF; More Formats on IMF eLibrary; Order a Print Copy; Create Citation.",
    "**_cr16163 — Executive Summary and Key Findings**"
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