United Kingdom: Financial Sector Assessment Program-Vulnerabilities in NBFIs, Market-Based Finance, and Systemic Liquidity
April 8, 2022
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The Financial Sector Assessment Program (FSAP) carried out a focused review of the non-banks in the United Kingdom and systemic liquidity. It reviewed five areas: (i) The overall NBFI system, its links to banks and the rest of the world; (ii) NBFI direct lending to the U.K. economy; (iii) Sterling investment funds (OEFs, AIFs, and MMFs); (iv) CCPs; and (v) Systemic liquidity. The NBFIs are defined as all non-deposit-taking corporations, listed in Figure 1, and with the following limited coverage: Pension Funds and Insurance Companies are covered to the extend they lend to the economy and interact with CCPs; Investment funds only to the extent of Sterling Funds; and broker-dealers only to the extent they interact with CCPs. Regulatory aspects of NBFIs are covered in a parallel Technical Note (TN).
Subject: Asset and liability management, Corporate bonds, Financial institutions, Financial sector policy and analysis, Financial statements, International organization, Liquidity, Monetary policy, Nonbank financial institutions, Public financial management (PFM), Stress testing
Keywords: central bank liquidity Support, Corporate bonds, Europe, financial leverage, Financial statements, FX swap lines, Global, Liquidity, liquidity mismatch, market liquidity, Nonbank financial institutions, Stress testing
Pages:
62
Volume:
2022
DOI:
Issue:
103
Series:
Country Report No. 2022/103
Stock No:
1GBREA2022004
ISBN:
9798400206580
ISSN:
1934-7685
