During 2014, the International Monetary Fund, IMF, has visited Denmark in connection with its Financial Sector Assessment Program, FSAP, and Article IV consultations. Both of these are part of the IMF's surveillance of the financial sectors and economies of the member countries.
In connection with the Article IV consultation, the IMF assessed financial and economic developments, focusing not only on the state of the economy and fiscal policy, but also on productivity growth and gross household debt.
In connection with the FSAP, the IMF assessed financial stability in Denmark, inter alia by conducting a number of stress tests of banks and insurance and pension companies. In addition, the IMF compared Danish legislation and practice in relation to supervision of the banking and insurance sectors with international standards, and reviewed Denmark's mortgage credit system, macroprudential policy and crisis management rules.
The IMF's conclusions have been published at Danmarks Nationalbank's website under About Danmarks Nationalbank – International cooperation, while the IMF's detailed reports will be published at a later date.
In 2013, the IMF Executive Board decided that in future the Danish financial sector was to be categorised as systemically important. Consequently, the IMF will from now on conduct Article IV consultations for Denmark annually instead of biennially, and regular FSAP reviews will be carried out every 5 years.
Enquiries can be directed to Karsten Biltoft, tel. +45 3363 6021.