## United Kingdom: Financial Sector Assessment Program-Systemic Stress, and Climate-Related Financial Risks: Implications for Balance Sheet Resilience

_IMF Staff Country Reports, April 8, 2022_

## Source details

**Canonical URL:** [United Kingdom: Financial Sector Assessment Program-Systemic Stress, and Climate-Related Financial Risks: Implications for Balance Sheet Resilience](https://www.imf.org/en/publications/cr/issues/2022/04/07/united-kingdom-financial-sector-assessment-program-systemic-stress-and-climate-related-516264)

## Other formats

- [Markdown version](/en/publications/cr/issues/2022/04/07/united-kingdom-financial-sector-assessment-program-systemic-stress-and-climate-related-516264/index.md)
- [Structured JSON version](/en/publications/cr/issues/2022/04/07/united-kingdom-financial-sector-assessment-program-systemic-stress-and-climate-related-516264/index.json)
- [Bundle manifest](/en/publications/cr/issues/2022/04/07/united-kingdom-financial-sector-assessment-program-systemic-stress-and-climate-related-516264/bundle-manifest.json)

## Bibliographic details
- Published: April 8, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400206504.002

---

### Context and Overview
- The FSAP started in an important macro-financial phase right after the second Covid wave and a third lockdown.
- The balance sheet resilience of major institutional sectors was at the center of policy considerations.
- The FSAP analyzed the pandemic’s potential “scarring” of banks, insurers, corporates, and households balance sheets, focusing on the interplay of macro-financial/structural conditions and financial vulnerabilities.

### Major Themes and Analytical Focus
- Pandemic “scarring” of balance sheets across institutional sectors:
  - Banks
  - Insurers
  - Corporates
  - Households
- Interaction between macro-financial conditions, structural conditions, and financial vulnerabilities.
- Systemic stress assessment and climate-related financial risks as they pertain to balance sheet resilience.

### Key Subjects and Keywords
- Subjects:
  - Credit
  - Financial institutions
  - Financial sector policy and analysis
  - Insurance
  - Insurance companies
  - International organization
  - Monetary policy
  - Money
  - Mortgages
  - Stress testing
- Keywords:
  - bank solvency stress test result
  - Credit
  - D. solvency stress tests result
  - fair value
  - feedback effect
  - Global
  - Insurance
  - Insurance companies
  - Macroprudential solvency stress tests
  - Mortgages
  - resolvability Assessment framework
  - Stress testing

---

## Content in this bundle

- **Executive Summary and Recommendations**
  - [Executive Summary and Recommendations (Markdown version)](/-/media/files/publications/cr/2022/english/1gbrea2022003.pdf.md){rel="alternate" type="text/markdown"}
  - [Executive Summary and Recommendations (PDF)](/-/media/files/publications/cr/2022/english/1gbrea2022003.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2022/04/07/united-kingdom-financial-sector-assessment-program-systemic-stress-and-climate-related-516264_