## Ireland: Financial Sector Assessment Program-Technical Note on Stress Testing and Systemic Risk Analysis

_IMF Staff Country Reports, November 9, 2022_

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## Bibliographic details
- Published: November 9, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400224393.002

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### Background and context
- 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.

### Key findings on vulnerabilities and risks
- Divergence in sector dynamics:
  - International finance sector described as innovative and fast-growing.
  - Retail banking sector described as consolidating, subject to post-GFC operating restrictions, and facing increasing competition from non-bank players.
- Pandemic and Brexit effects:
  - Impacts described as uneven across the economy.
  - Public support measures mitigated the COVID-19 shock but create risks when unwound.
- Emerging and ongoing risks that could impede recovery and magnify vulnerabilities:
  - Persistent inflationary pressures.
  - Supply bottlenecks fueling inflationary pressures.
  - The war in Ukraine.
  - These factors may impede recovery and magnify vulnerabilities to downside shocks.

### Publication and metadata
- 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

*International 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).*

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- **Executive Summary**
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_Source: https://www.imf.org/en/publications/cr/issues/2022/11/08/ireland-financial-sector-assessment-program-technical-note-on-stress-testing-and-systemic-525549_