## Ireland: Financial System Stability Assessment

_IMF Staff Country Reports, July 7, 2022_

## Source details

**Canonical URL:** [Ireland: Financial System Stability Assessment](https://www.imf.org/en/publications/cr/issues/2022/07/07/ireland-financial-system-stability-assessment-520469)

## Other formats

- [Markdown version](/en/publications/cr/issues/2022/07/07/ireland-financial-system-stability-assessment-520469/index.md)
- [Structured JSON version](/en/publications/cr/issues/2022/07/07/ireland-financial-system-stability-assessment-520469/index.json)
- [Bundle manifest](/en/publications/cr/issues/2022/07/07/ireland-financial-system-stability-assessment-520469/bundle-manifest.json)

## Bibliographic details
- Published: July 7, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400213564.002

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### Financial system growth and complexity
- 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.

### Risks to financial stability
- Primary risk drivers identified:
  - "a much larger and more complex financial system"
  - "persistent legacy issues"
  - emergent risks from "non-bank lending, Fintech, and climate change"

### Stress testing and resilience
- Stress tests "confirmed banks’ resilience to severe macrofinancial shocks, with some caveats."

### Supervisory capacity and priorities
- Assessment of supervision:
  - Supervisory resources and capacity are "broadly adequate" but "need to keep pace with a growing and more complex sector with significant cross-border linkages."
  - Efforts needed to "further strengthen supervision of banks’ credit risk."
  - Need to "develop capacity and skills on new areas such as climate, non-bank lending, and Fintech."

### Insurance oversight
- Insurance supervision recommendation:
  - Oversight "should prioritize intra-group complexities."

### Resolution and crisis management
- Recommendations to enhance crisis preparedness:
  - "Resolution and crisis management can be enhanced through greater planning and collaboration between the Central Bank and the Department of Finance"
  - Aim: "to bolster the ability to deal effectively with institution failures and systemic crises."

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## Content in this bundle

- **Ireland: Financial System Stability Assessment; IMF Country Report No. 22/215; June 15, 2022**
  - [Ireland: Financial System Stability Assessment; IMF Country Report No. 22/215; June 15, 2022 (Markdown version)](/-/media/files/publications/cr/2022/english/1irlea2022003.pdf.md){rel="alternate" type="text/markdown"}
  - [Ireland: Financial System Stability Assessment; IMF Country Report No. 22/215; June 15, 2022 (PDF)](/-/media/files/publications/cr/2022/english/1irlea2022003.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2022/07/07/ireland-financial-system-stability-assessment-520469_