Macroprudential Policy And Practice
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Legal Foundations Of Macroprudential Policy
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Author : Anat Keller
language : en
Publisher:
Release Date : 2020
Legal Foundations Of Macroprudential Policy written by Anat Keller and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Economic policy categories.
Macroprudential policy focuses on the financial system as a whole, as distinct from individual institutions, and its objective is to limit the costs to the real economy from system-wide distress of the financial sector. This book helps readers discover and decipher the multi-faceted and fascinating area of macroprudential policy through taking a theoretical, interdisciplinary and legal-focused approach.
Macroprudential Policy Framework
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Author : Damodaran Krishnamurti
language : en
Publisher: World Bank Publications
Release Date : 2014-05-14
Macroprudential Policy Framework written by Damodaran Krishnamurti and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-14 with Business & Economics categories.
This publication aims to provide policy makers in emerging market and developing economies with inputs to better understand, envision, and implement a macroprudential policy framework. It presents the basic concepts, issues, and challenges, and encourages them to ask the right questions to design an optimal institutional framework,
Macroprudential Policy And Practice
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Author : Paul Mizen
language : en
Publisher: Cambridge University Press
Release Date : 2018-08-23
Macroprudential Policy And Practice written by Paul Mizen and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-23 with Business & Economics categories.
A guide to the latest theoretical developments in macroprudential policy, the newest tool in central banking policymaking circles.
Central Bank Policy
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Author : Perry Warjiyo
language : en
Publisher: Emerald Group Publishing
Release Date : 2019-07-25
Central Bank Policy written by Perry Warjiyo and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-25 with Business & Economics categories.
Central Bank Policy: Theory and Practice analyses various policies, theories and practices adopted by central banks, as well as the institutional arrangements underlying the principles of good governance in policy-making. It is the first book to comprehensively discuss the latest theories and practices of central bank policy.
Staff Guidance Note On Macroprudential Policy
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2014-06-11
Staff Guidance Note On Macroprudential Policy written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-11 with Business & Economics categories.
This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the “Key Aspects of Macroprudential Policy,” taking into account the work of international standard setters as well as the evolving country experience with macroprudential policy. The main note is accompanied by supplements offering Detailed Guidance on Instruments and Considerations for Low Income Countries
Macroprudential Regulation And Policy For The Islamic Financial Industry
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Author : Muhamed Zulkhibri
language : en
Publisher: Springer
Release Date : 2016-05-25
Macroprudential Regulation And Policy For The Islamic Financial Industry written by Muhamed Zulkhibri and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-25 with Business & Economics categories.
This volume aims to discuss the current research, theory, methodology and applications of macropreudential regulation and policy for the Islamic financial industry. Published in cooperation with the Islamic Research and Training Institute (IRTI), this book features contributions from a workshop presented in collaboration with the University College of Bahrain (UCB) in Manama, Bahrain, aimed to bring together experts in Islamic banking and regulation and financial economics. This resulting book sheds light on how macroprudential policy may be implemented in the Islamic financial system, and indicates current challenges and their effects on economic growth, financial stability and monetary regulation. Macroprudential policy is increasingly seen as a way of dealing with the different dimensions of systemic risk. But many central banks, bank supervisors and regulators have limited experience with macroprudential tools, particularly in the Islamic financial industry. Given the complementarities between monetary policy and financial stability, it appears that central banks would always play an important role in macroprudential policy. But how should macroprudential policy best interact with monetary policy? It is becoming more pressing for the central banks to conduct monetary policy in which its conventional banking system operates side by side with Islamic banking system. This question has received increasing attention in the research literature but there is much we still need to learn. This is why new insights from research on macroprudential policy – which has gained important impetus in recent years – are so valuable. Featuring contributions on topics such as macroprudential regulation, policy, tools and instruments; governance, systematic risk, monetary policy, and bank leverage, the editors provide a collection of comprehensive research covering the most important issues on macroprudential policy and regulation for the Islamic financial industry. This volume is expected to be a significant contribution to the literature in the field of Islamic finance and evaluation of public policies to promote the development for Islamic financial industry. It is also served as a key text for students, academics, researchers, policy-makers in the field of Islamic finance.
Macroprudential Policy An Organizing Framework
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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2011-03-14
Macroprudential Policy An Organizing Framework written by International Monetary Fund. Monetary and Capital Markets Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-03-14 with Business & Economics categories.
Macroprudential policy is a complement to microprudential policy and it interacts with other types of public policy that have an impact on systemic financial stability. Indeed, prudential regulation, as carried out in the past, also had some macroprudential aspects, and the recent crisis has reinforced this focus; hence, a clear separation between “micro” and “macro” prudential, if useful conceptually, is difficult to delineate in practice. Moreover, no matter how different policy mandates are structured, financial stability tends to be a common responsibility, reflecting the far reaching consequences of financial crises. This calls for coordination across policies, to ensure that systemic risk is comprehensively addressed. Equally important, macroprudential policy is no substitute for sound policies more broadly, including, in particular, strong prudential regulation and supervision, and sound macroeconomic policies. Operational independence in other policy areas, including monetary and microprudential policy, should not be undermined in the name of macroprudential policy. Finally, given the global nature of the financial system, the multilateral aspects of macroprudential policy will need to be fully considered—an important aspect that is only touched upon in this paper.
The Governance Of Macroprudential Policy
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Author : Tracy C Maguze
language : en
Publisher: Bloomsbury Publishing
Release Date : 2024-01-11
The Governance Of Macroprudential Policy written by Tracy C Maguze and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-11 with Law categories.
This book critically examines the theoretical foundations and legal framework for macroprudential policy, its tools and governance in the UK, the US, and the EU. It goes deeper into a normative discussion of the legitimacy of macroprudential policy in these jurisdictions, where the mandate for maintaining financial stability has been delegated to independent authorities. The Global Financial Crisis of 2007-2008 reopened debates regarding legitimacy of the independent regulatory state, given its democratic deficit. The response to a perceived legitimacy gap has been to increase political oversight in financial policymaking and regulation. The book posits that the real problem is not a lack of democracy, but rather a lack of social justice. Across the globe, there is growing dissatisfaction with a financial system and regulatory process that appear depersonalised and perpetuate inequalities. Citizens are calling for more socially just systems of governance and the future success of financial policymakers and regulators will hinge on this. Given the marked distributional effects that have been noted in some macroprudential policy tools, the book questions whether macroprudential policy should be solely based on highly rationalised and strongly quantitative reasons. By proposing that macroprudential policymakers should have a social justice mandate alongside their financial stability mandate, as well as legal mechanisms for operationalising the added authority, the book contributes to the growing discourse on the role of social justice in public policy.
Rocky Times
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Author : Yasuyuki Fuchita
language : en
Publisher: Rowman & Littlefield
Release Date : 2012-10-22
Rocky Times written by Yasuyuki Fuchita and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-22 with Business & Economics categories.
It has been four years since the financial crisis of 2008, and the global financial system still is experiencing malaise caused by high rates of unemployment; a lingering, unresolved supply of foreclosed properties; the deepening European debt crisis; and fear of a recurrence of the bank turmoil that brought about the Great Recession. All of these factors have led to stagnant economic growth worldwide. In Rocky Times, editors Yasuyuki Fuchita, Richard J. Herring, and Robert E. Litan bring together experts from academia and the banking sector to analyze the difficult issues surrounding troubled large financial institutions in an environment of economic uncertainty and growing public anger. Continuing the format of the previous Brookings- Nomura collaborations, Rocky Times focuses largely on developments within the United States and Japan but looks at those in other nations as well. This volume examines two broad areas: the Japanese approach to regulating financial institutions and promoting financial stability and the U.S. approach in light of the Dodd-Frank Act. Specific chapters include "Managing Systemwide Financial Crises: Some Lessons from Japan since 1990," "The Bankruptcy of Bankruptcy," "The Case for Regulating the Shadow Banking System," "Why and How to Design a Contingent Convertible Debt Requirement," and "Governance Issues for Macroprudential Policy in Advanced Economies." Contributors: Gavin Bingham (Systemic Policy Partnership, London), Charles W. Calomiris (Columbia Business School), Douglas J. Elliott (Brookings Institution), Kei Kodachi (Nomura Institute of Capital Markets Research), Morgan Ricks (Vanderbilt Law School).
Monetary And Macroprudential Policies To Manage Capital Flows
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Author : Juan Pablo Medina Guzman
language : en
Publisher: International Monetary Fund
Release Date : 2014-02-12
Monetary And Macroprudential Policies To Manage Capital Flows written by Juan Pablo Medina Guzman and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-12 with Business & Economics categories.
We study interactions between monetary and macroprudential policies in a model with nominal and financial frictions. The latter derive from a financial sector that provides credit and liquidity services that lead to a financial accelerator-cum-fire-sales amplification mechanism. In response to fluctuations in world interest rates, inflation targeting dominates standard Taylor rules, but leads to increased volatility in credit and asset prices. The use of a countercyclical macroprudential instrument in addition to the policy rate improves welfare and has important implications for the conduct of monetary policy. “Leaning against the wind” or augmenting a standard Taylor rule with an argument on credit growth may not be an effective policy response.