{
  "title": "United Kingdom: Financial Sector Assessment Program-Systemic Risk and Interconnectedness Analysis-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-systemic-risk-and-interconnectedness-43975",
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  "summary": "This paper summarizes the assessment of interconnectedness and systemic risk undertaken for the U.K. financial system as part of the Financial Sector Assessment Program.",
  "publishDate": "2016-06-17",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Scope and purpose",
      "content": "- Summarizes the assessment of interconnectedness and systemic risk undertaken for the U.K. financial system as part of the Financial Sector Assessment Program.\n- Emphasizes that the assessment of financial system resilience should account for the evolution of interconnectedness between firms and sectors."
    },
    {
      "heading": "Structure of the paper",
      "content": "- Part (1): Motivation for monitoring cross-sector interconnectedness as part of the financial system’s resilience assessment.\n- Part (2): Description of selected empirical methods that may be employed to analyze interconnectedness.\n- Part (3): An illustrative analysis conducted, based on a definition of the financial system that incorporates U.K. banking and life insurance sectors."
    },
    {
      "heading": "Key thematic findings and emphases",
      "content": "- Monitoring cross-sector interconnectedness is presented as an integral element of assessing financial system resilience.\n- Empirical methods for analyzing interconnectedness are described (selected methods, as opposed to an exhaustive list).\n- An illustrative, applied analysis is provided that defines the financial system to include U.K. banking and life insurance sectors."
    },
    {
      "heading": "Subjects and keywords (as listed)",
      "content": "- Subjects: Banking; Commercial banks; Financial contagion; Financial institutions; Financial sector policy and analysis; Insurance companies; Spillovers; Systemic risk.\n- Keywords: asset price dislocation; balance sheet interconnectedness; banking sector; banking sector resilience; banking sector stress tests; CDS spread; Commercial banks; CR; euro area banking sectors; Financial contagion; financial system; Global; Insurance companies; ISCR; lending market; modeling portfolio risk; Spillovers; Systemic risk; U.K. export trade weight; U.K. financial system.\n\n---\n\n Content in this bundle\n\n- Executive Summary\n  - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Executive Summary (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-systemic-risk-and-interconnectedness-43975"
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    "Published: June 17, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484394281.002",
    "Summarizes the assessment of interconnectedness and systemic risk undertaken for the U.K. financial system as part of the Financial Sector Assessment Program.",
    "Emphasizes that the assessment of financial system resilience should account for the evolution of interconnectedness between firms and sectors.",
    "Part (1): Motivation for monitoring cross-sector interconnectedness as part of the financial system’s resilience assessment.",
    "Part (2): Description of selected empirical methods that may be employed to analyze interconnectedness.",
    "Part (3): An illustrative analysis conducted, based on a definition of the financial system that incorporates U.K. banking and life insurance sectors.",
    "Monitoring cross-sector interconnectedness is presented as an integral element of assessing financial system resilience.",
    "Empirical methods for analyzing interconnectedness are described (selected methods, as opposed to an exhaustive list).",
    "An illustrative, applied analysis is provided that defines the financial system to include U.K. banking and life insurance sectors.",
    "Subjects: Banking; Commercial banks; Financial contagion; Financial institutions; Financial sector policy and analysis; Insurance companies; Spillovers; Systemic risk.",
    "Keywords: asset price dislocation; balance sheet interconnectedness; banking sector; banking sector resilience; banking sector stress tests; CDS spread; Commercial banks; CR; euro area banking sectors; Financial contagion; financial system; Global; Insurance companies; ISCR; lending market; modeling portfolio risk; Spillovers; Systemic risk; U.K. export trade weight; U.K. financial system.",
    "**Executive Summary**"
  ],
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