(AGENPARL) - Roma, 8 Aprile 2022(AGENPARL) – ven 08 aprile 2022 [IMF Country Reports](http://www.imf.org/external/pubs/cat/scr1_sp.aspx?s_year=1997&e_year=2012&brtype=default)
[Open in your browser](http://www.imf.org/en/Publications/CR/Issues/2022/04/07/United-Kingdom-Financial-Sector-Assessment-Program-Vulnerabilities-in-NBFIs-Market-Based-516267?cid=em-COM-123-44588)
http://www.imf.org/en/Publications/CR/Issues/2022/04/07/United-Kingdom-Financial-Sector-Assessment-Program-Vulnerabilities-in-NBFIs-Market-Based-516267?cid=em-COM-123-44588
[Country Report No. 2022/103 : United Kingdom: Financial Sector Assessment Program-Vulnerabilities in NBFIs, Market-Based Finance, and Systemic Liquidity](http://www.imf.org/en/Publications/CR/Issues/2022/04/07/United-Kingdom-Financial-Sector-Assessment-Program-Vulnerabilities-in-NBFIs-Market-Based-516267?cid=em-COM-123-44588)
APRIL 08, 2022
http://www.imf.org/en/Publications/CR/Issues/2022/04/07/United-Kingdom-Financial-Sector-Assessment-Program-Vulnerabilities-in-NBFIs-Market-Based-516267?cid=em-COM-123-44588
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).
[READ MORE](http://www.imf.org/en/Publications/CR/Issues/2022/04/07/United-Kingdom-Financial-Sector-Assessment-Program-Vulnerabilities-in-NBFIs-Market-Based-516267?cid=em-COM-123-44588)
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