## United Kingdom: Financial Sector Assessment Program-Banking Supervision and Issues in Financial Stability

_IMF Staff Country Reports, April 8, 2022_

## Source details

**Canonical URL:** [United Kingdom: Financial Sector Assessment Program-Banking Supervision and Issues in Financial Stability](https://www.imf.org/en/publications/cr/issues/2022/04/07/united-kingdom-financial-sector-assessment-program-banking-supervision-and-issues-in-516273)

## Other formats

- [Markdown version](/en/publications/cr/issues/2022/04/07/united-kingdom-financial-sector-assessment-program-banking-supervision-and-issues-in-516273/index.md)
- [Structured JSON version](/en/publications/cr/issues/2022/04/07/united-kingdom-financial-sector-assessment-program-banking-supervision-and-issues-in-516273/index.json)
- [Bundle manifest](/en/publications/cr/issues/2022/04/07/united-kingdom-financial-sector-assessment-program-banking-supervision-and-issues-in-516273/bundle-manifest.json)

## Bibliographic details
- Published: April 8, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400206641.002

---

### Summary
- The Financial Sector Assessment Program (FSAP) carried out a targeted evaluation of issues relating to the effectiveness of banking regulation and supervision in the United Kingdom.
- The 2021 FSAP leverages on the 2016 FSAP which concluded that the United Kingdom (U.K.) had a high degree of compliance with the 2012 Basel Core Principles (BCPs) with some shortcomings.
- The 2021 FSAP reviewed the progress in addressing those shortcomings and examined the main supervisory and regulatory developments since the last FSAP.
- The FSAP evaluation also focuses on:
  - steps taken to minimize disruptions in the U.K. banking system at the end of the Brexit transition period, and
  - the regulatory and supervisory measures introduced to contain spillovers from the ongoing COVID-19 pandemic on the U.K. banking system.

### Findings, Focus Areas, and Analytical Scope
- Targeted evaluation of the effectiveness of banking regulation and supervision in the United Kingdom.
- Review of progress since the 2016 FSAP, which found a high degree of compliance with the 2012 Basel Core Principles (BCPs) with some shortcomings.
- Examination of main supervisory and regulatory developments since the 2016 FSAP.
- Specific focus on:
  - minimizing disruptions at the end of the Brexit transition period, and
  - measures to contain spillovers from the COVID-19 pandemic on the U.K. banking system.

### Subjects and Keywords
- Subject: Credit risk, Financial regulation and supervision, Financial sector policy and analysis, Financial services, International organization, Monetary policy, Operational risk, Stress testing
- Keywords: Credit risk, Global, Operational risk, PRA buffer, PRA rule, Stress testing, U.K. authorities, U.K. banking market, U.K. banking sector, U.K. deposit takers supervision, U.K. economy

---

## Content in this bundle

- **1gbrea2022006**
  - [1gbrea2022006 (Markdown version)](/-/media/files/publications/cr/2022/english/1gbrea2022006.pdf.md){rel="alternate" type="text/markdown"}
  - [1gbrea2022006 (PDF)](/-/media/files/publications/cr/2022/english/1gbrea2022006.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2022/04/07/united-kingdom-financial-sector-assessment-program-banking-supervision-and-issues-in-516273_