{
  "title": "Ireland: Financial Sector Assessment Program-Technical Note on Macroprudential Policy Framework and Tools",
  "publication": "IMF Staff Country Reports, September 9, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/09/07/ireland-financial-sector-assessment-program-technical-note-on-macroprudential-policy-523204",
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  "summary": "Ireland is a small open economy that is part of a monetary union and has a major financial system. Within the Euro Area (EA), Ireland comprises a relatively small proportion of aggregate GDP (3.",
  "sections": [
    {
      "heading": "Summary and context",
      "content": "- Ireland is a small open economy that is part of a monetary union and has a major financial system.\n- Within the Euro Area (EA), Ireland comprises a relatively small proportion of aggregate GDP (3.4 percent), of which a significant portion is attributable to foreign-owned multinational enterprises (MNEs).\n- The Irish financial system holds assets of EUR 7.9 trillion, over 18 times GDP.\n- Since monetary policy is carried out by the European Central Bank (ECB) for the entire EA, macroprudential policy has the potential to play a critical stabilizing role for the Irish financial system."
    },
    {
      "heading": "Major themes and focus areas",
      "content": "- Credit\n- Financial institutions\n- Financial sector policy and analysis\n- Financial sector stability\n- Housing prices\n- Macroprudential policy instruments\n- Monetary policy\n- Mortgages\n- Money\n- International organization"
    },
    {
      "heading": "Keywords and specific vulnerabilities noted",
      "content": "- bank funding\n- bank lending\n- bank sector\n- commercial real estate\n- CRE market vulnerability\n- Credit\n- Financial sector stability\n- Global\n- Housing prices\n- lending to SME\n- Macroprudential policy instruments\n- Mortgages\n\n---\n\n Content in this bundle\n\n- Executive Summary\n  - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
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    "[Markdown version](/en/publications/cr/issues/2022/09/07/ireland-financial-sector-assessment-program-technical-note-on-macroprudential-policy-523204/index.md)",
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    "Published: September 9, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400217876.002",
    "Ireland is a small open economy that is part of a monetary union and has a major financial system.",
    "Within the Euro Area (EA), Ireland comprises a relatively small proportion of aggregate GDP (3.4 percent), of which a significant portion is attributable to foreign-owned multinational enterprises (MNEs).",
    "The Irish financial system holds assets of EUR 7.9 trillion, over 18 times GDP.",
    "Since monetary policy is carried out by the European Central Bank (ECB) for the entire EA, macroprudential policy has the potential to play a critical stabilizing role for the Irish financial system.",
    "bank funding",
    "bank lending",
    "bank sector",
    "commercial real estate",
    "CRE market vulnerability",
    "Global",
    "lending to SME",
    "**Executive Summary**"
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