A Financial Sector Assessment Program (FSAP) is a comprehensive assessment of a country’s financial sector by the International Monetary Fund (IMF). The goal of FSAP assessments is to gauge the stability of the country’s financial sector, to identify any potential sources of systemic risk and to assess its potential contribution to growth and development.
The IMF will be undertaking a review of the New Zealand financial system in 2016 as part of their FSAP. The last FSAP for New Zealand was conducted nearly 13 years ago (in late 2003), with publication of findings and recommendations in May 2004.
An FSAP covers three broad areas:
FSAPs are mandatory for 29 ‘systemically important’ jurisdictions. New Zealand is not one of these 29 countries, so our FSAPs are voluntary.
You can find out more about FSAP assessments and view examples on the FSAP page of the IMF website.