United Kingdom: Financial Sector Assessment Program-Vulnerabilities in NBFIs, Market-Based Finance, and Systemic Liquidity

United Kingdom: Financial Sector Assessment Program-Vulnerabilities in NBFIs, Market-Based Finance, and Systemic Liquidity
ISBN-10
ISBN-13
9798400206580
Series
United Kingdom
Category
Business & Economics
Pages
62
Language
English
Published
2022-04-08
Publisher
International Monetary Fund
Authors
International Monetary Fund. Monetary and Capital Markets Department, International Monetary

Description

The Financial Sector Assessment Program (FSAP) carried out a focused review of the non-banks in the United Kingdom and systemic liquidity. It reviewed five areas: (i) The overall NBFI system, its links to banks and the rest of the world; (ii) NBFI direct lending to the U.K. economy; (iii) Sterling investment funds (OEFs, AIFs, and MMFs); (iv) CCPs; and (v) Systemic liquidity. The NBFIs are defined as all non-deposit-taking corporations, listed in Figure 1, and with the following limited coverage: Pension Funds and Insurance Companies are covered to the extend they lend to the economy and interact with CCPs; Investment funds only to the extent of Sterling Funds; and broker-dealers only to the extent they interact with CCPs. Regulatory aspects of NBFIs are covered in a parallel Technical Note (TN).

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