This paper summarizes the assessment of interconnectedness and systemic risk undertaken for the U.K. financial system as part of the Financial Sector Assessment Program. It consists of three parts, focusing on the following: (1) motivation for monitoring cross-sector interconnectedness as part...

The FSAP started in an important macro-financial phase right after the second Covid wave and a third lockdown. The balance sheet resilience of major institutional sectors was at the center of policy considerations. Against this backdrop, the FSAP analyzed the pandemic's potential "scarring" of...

This is a condensed version of Salter and Tarko (2018), presented at the Austrian Economics in the 21st Century conference in Rosario, Argentina. I argue that current perspectives on banking and financial regulation, including newly popular proposals for macroprudential regulation, cannot...

We propose a framework for stress testing the resilience of a financial network to external shocks affecting balance sheets. Whereas previous studies of contagion effects in financial networks have relied on large scale simulations, our approach uses a simple analytical criterion for resilience...

The private sector in the Caribbean is crucial for economic growth and job creation and economic resilience is thus heavily determined by the shock absorbing capacity of individual firms and households. As the definition of the private sector is generally broad and includes economic agents of...

Cybersecurity risk is embedded in the CBB's supervisory framework, but additional enhancements are needed to formalize guidance and develop more intensive supervisory practices. Supervisory expectations on cybersecurity are presented in an informal guidance note, which should be formalized into...