{
  "title": "Ireland: Financial Sector Assessment Program-Technical Note on Stress Testing and Systemic Risk Analysis",
  "publication": "IMF Staff Country Reports, November 9, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/11/08/ireland-financial-sector-assessment-program-technical-note-on-stress-testing-and-systemic-525549",
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  "summary": "The FSAP took place against the background of a fast-evolving financial sector in Ireland and heightened uncertainty in the global economy.",
  "sections": [
    {
      "heading": "Background and context",
      "content": "- FSAP took place against the background of a fast-evolving financial sector in Ireland and heightened uncertainty in the global economy.\n- The Irish financial landscape has undergone significant changes since the global financial crisis with increasing divergence between an innovative and fast-growing international finance sector and the retail banking sector that has been consolidating and faces post-GFC operating restrictions and increasing competition from non-bank players.\n- Both the global pandemic and Brexit have left uneven marks across the economy.\n- There are risks from the unwinding of public support that has softened COVID-19 shock’s impact on the economy."
    },
    {
      "heading": "Key findings on vulnerabilities and risks",
      "content": "- Divergence in sector dynamics:\n  - International finance sector described as innovative and fast-growing.\n  - Retail banking sector described as consolidating, subject to post-GFC operating restrictions, and facing increasing competition from non-bank players.\n- Pandemic and Brexit effects:\n  - Impacts described as uneven across the economy.\n  - Public support measures mitigated the COVID-19 shock but create risks when unwound.\n- Emerging and ongoing risks that could impede recovery and magnify vulnerabilities:\n  - Persistent inflationary pressures.\n  - Supply bottlenecks fueling inflationary pressures.\n  - The war in Ukraine.\n  - These factors may impede recovery and magnify vulnerabilities to downside shocks."
    },
    {
      "heading": "Publication and metadata",
      "content": "- Publication date: November 9, 2022\n- Pages: 163\n- Volume: 2022\n- Issue: 337\n- Series: Country Report No. 2022/337\n- DOI: https://doi.org/10.5089/9798400224393.002\n- Stock No: 1IRLEA2022013\n- ISBN: 9798400224393\n- ISSN: 1934-7685\n\nInternational Monetary Fund. Monetary and Capital Markets Department \"Ireland: Financial Sector Assessment Program-Technical Note on Stress Testing and Systemic Risk Analysis\", IMF Staff Country Reports 2022, 337 (2022).\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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    "Published: November 9, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400224393.002",
    "FSAP took place against the background of a fast-evolving financial sector in Ireland and heightened uncertainty in the global economy.",
    "The Irish financial landscape has undergone significant changes since the global financial crisis with increasing divergence between an innovative and fast-growing international finance sector and the retail banking sector that has been consolidating and faces post-GFC operating restrictions and increasing competition from non-bank players.",
    "Both the global pandemic and Brexit have left uneven marks across the economy.",
    "There are risks from the unwinding of public support that has softened COVID-19 shock’s impact on the economy.",
    "Divergence in sector dynamics:",
    "Pandemic and Brexit effects:",
    "Emerging and ongoing risks that could impede recovery and magnify vulnerabilities:",
    "Publication date: November 9, 2022",
    "Pages: 163",
    "Volume: 2022",
    "Issue: 337",
    "Series: Country Report No. 2022/337",
    "DOI: https://doi.org/10.5089/9798400224393.002",
    "Stock No: 1IRLEA2022013",
    "ISBN: 9798400224393",
    "ISSN: 1934-7685",
    "**Executive Summary**"
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