United States: Financial System Stability Assessment
IMF Staff Country Reports, August 10, 2020
Source details
- Canonical URL
- United States: Financial System Stability Assessment
Other formats
Bibliographic details
- Published: August 10, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513552873.002
Overview
- Much of the Financial Sector Assessment Program (FSAP) work was conducted prior to the COVID-19 pandemic.
- The lockdown of the economy has led to a massive growth shock.
- Following the precipitous fall, risk asset prices have rebounded, and financial conditions eased.
- The vulnerability analysis has been updated and largely captures this shock.
- Recommendations on strengthening policy and institutional frameworks remain pertinent.
- The approach to financial regulation and supervision was risk-focused given the high degree of compliance against international standards assessed during the 2015 FSAP.
Key findings and vulnerabilities
- Massive growth shock from the COVID-19 pandemic and lockdown of the economy.
- Precipitous fall in economic activity followed by a rebound in risk asset prices and easing of financial conditions.
- Updated vulnerability analysis largely captures the shock.
- Subject areas covered: Asset and liability management; Banking; Financial institutions; Financial sector policy and analysis; Financial sector stability; Liquidity; Loans; Mortgages; Stress testing.
- Keywords indicative of focus areas: central bank, commercial paper, CR, economic activity, Financial sector stability, financial system, fixed income, Global, ISCR, Liquidity, Loans, money market, mortgage loan, Mortgages, short term, spot market, Stress testing, U.S. dollar.
Policy recommendations and institutional implications
- Recommendations on strengthening policy and institutional frameworks remain pertinent.
- Regulatory and supervisory approach: risk-focused, reflecting high compliance against international standards from the 2015 FSAP.
Content in this bundle
- EXECUTIVE SUMMARY