{
  "title": "Ireland: Financial System Stability Assessment",
  "publication": "IMF Staff Country Reports, July 7, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/07/07/ireland-financial-system-stability-assessment-520469",
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  "summary": "This Financial System Stability Assessment paper highlights that the Irish financial system has grown rapidly and in complexity, especially after Brexit, and Ireland has become a European base for large financial groups.",
  "sections": [
    {
      "heading": "Financial system growth and complexity",
      "content": "- The Irish financial system \"has grown rapidly and in complexity, especially after Brexit.\"\n- Ireland \"has become a European base for large financial groups.\"\n- Growth has increased cross-border linkages and systemic complexity."
    },
    {
      "heading": "Risks to financial stability",
      "content": "- Primary risk drivers identified:\n  - \"a much larger and more complex financial system\"\n  - \"persistent legacy issues\"\n  - emergent risks from \"non-bank lending, Fintech, and climate change\""
    },
    {
      "heading": "Stress testing and resilience",
      "content": "- Stress tests \"confirmed banks’ resilience to severe macrofinancial shocks, with some caveats.\""
    },
    {
      "heading": "Supervisory capacity and priorities",
      "content": "- Assessment of supervision:\n  - Supervisory resources and capacity are \"broadly adequate\" but \"need to keep pace with a growing and more complex sector with significant cross-border linkages.\"\n  - Efforts needed to \"further strengthen supervision of banks’ credit risk.\"\n  - Need to \"develop capacity and skills on new areas such as climate, non-bank lending, and Fintech.\""
    },
    {
      "heading": "Insurance oversight",
      "content": "- Insurance supervision recommendation:\n  - Oversight \"should prioritize intra-group complexities.\""
    },
    {
      "heading": "Resolution and crisis management",
      "content": "- Recommendations to enhance crisis preparedness:\n  - \"Resolution and crisis management can be enhanced through greater planning and collaboration between the Central Bank and the Department of Finance\"\n  - Aim: \"to bolster the ability to deal effectively with institution failures and systemic crises.\"\n\n---\n\n Content in this bundle\n\n- Ireland: Financial System Stability Assessment; IMF Country Report No. 22/215; June 15, 2022\n  - Ireland: Financial System Stability Assessment; IMF Country Report No. 22/215; June 15, 2022 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Ireland: Financial System Stability Assessment; IMF Country Report No. 22/215; June 15, 2022 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "Published: July 7, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400213564.002",
    "The Irish financial system \"has grown rapidly and in complexity, especially after Brexit.\"",
    "Ireland \"has become a European base for large financial groups.\"",
    "Growth has increased cross-border linkages and systemic complexity.",
    "Primary risk drivers identified:",
    "Stress tests \"confirmed banks’ resilience to severe macrofinancial shocks, with some caveats.\"",
    "Assessment of supervision:",
    "Insurance supervision recommendation:",
    "Recommendations to enhance crisis preparedness:",
    "**Ireland: Financial System Stability Assessment; IMF Country Report No. 22/215; June 15, 2022**"
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      "title": "Ireland: Financial System Stability Assessment; IMF Country Report No. 22/215; June 15, 2022",
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