Ireland : Financial System Stability Assessment.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Monetary and Capital Markets Department.

Series:

IMF Staff Country Reports; Country Report ; No. 2016/258

IMF Staff Country Reports

Language:

English

Subjects (All):

Economic development--Ireland.

Economic development.

Fiscal policy--Ireland.

Fiscal policy.

Ireland--Economic conditions.

Ireland.

Physical Description:

1 online resource (49 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2016.

Summary:

This paper discusses key findings of the Financial System Stability Assessment for Ireland. The Irish financial system has strengthened significantly since the crisis and undergone major structural changes. Important vulnerabilities in the banking system relate to the real-estate sector, some parts of the corporate sector, the sovereign, and funding in pound sterling. Pockets of weakness remain, notably among highly leveraged households and smaller domestic firms. Over the medium term, technological innovations and shifts in competitive pressures will throw up challenges to the profitability of both banks and nonbank financial institutions. The U.K. vote to leave the EU is also very likely to have negative effects on the Irish financial system.

Contents:

Cover; CONTENTS; Glossary; EXECUTIVE SUMMARY; MACRO-FINANCIAL BACKGROUND; STABILITY ANALYSIS; A. Risk Factors and Vulnerabilities; B. Stability Analysis; FINANCIAL SECTOR OVERSIGHT; A. Cross-cutting Issues; B. Banking Sector; C. Insurance and Pension Sectors; D. Securities Markets; E. Macroprudential Oversight; F. Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT); BANK RESOLUTION AND FINANCIAL SAFETY NETS; A. Resolution Regime and Institutions; B. Enhancing Recoverability and Resolvability; C. Funding Recovery and Resolution; BOX; 1. Dealing with Impaired Assets

FIGURES1. European Banks: Revenues, Costs and Profits; 2. Macroeconomic Baseline and Stress Scenarios; 3. Domestic Financial Network Map; 4. Developments in the RRE and CRE Markets; 5. Price-to-Income and Price-to-Rent Ratios; 6. Ireland and Other European Countries: Household Debt and Debt-to-Disposable Income Ratio; 7. Probability of Default of a Group of Households Under Stress Tests; 8. Interest Cover Ratio and Debt-at-Risk; 9. Risks in the Ireland-Domiciled Funds Management Sector; TABLES; 1. FSAP Key Recommendations; 2. Selected Economic Indicators, 2011-17

3. Bank Financial Soundness Indicators4. Credit Union Financial Soundness Indicators; APPENDICES; I. Structure of the Financial System; II. Risk Assessment Matrix; III. Detailed Stress Test Results

Notes:

Description based upon print version of record.

Description based on online resource; title from PDF title page (ebrary, viewed September 11, 2016).

ISBN:

9781475519310

1475519311

9781475519440

1475519443