The Effectiveness Of Borrower Based Macroprudential Measures A Quantitative Analysis For Slovakia
DOWNLOAD
Download The Effectiveness Of Borrower Based Macroprudential Measures A Quantitative Analysis For Slovakia PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get The Effectiveness Of Borrower Based Macroprudential Measures A Quantitative Analysis For Slovakia book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
The Effectiveness Of Borrower Based Macroprudential Measures A Quantitative Analysis For Slovakia
DOWNLOAD
Author : Pavol Jurca
language : en
Publisher:
Release Date : 2020-07-17
The Effectiveness Of Borrower Based Macroprudential Measures A Quantitative Analysis For Slovakia written by Pavol Jurca and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-07-17 with categories.
We develop a semi-structural quantitative framework that combines micro and macroeconomic data to assess the effectiveness of combinations of borrower-based macroprudential measures in Slovakia. We expand on the integrated dynamic household balance sheet model of Gross and Población (2017) by introducing an endogenous loan granting feature, in turn to quantify the potential (ex-ante) impact of macroprudential measures on resilience parameters, compared with a counterfactual no-policy scenario, under adverse macroeconomic conditions. We conclude that (1) borrower-based measures can noticeably improve household and bank resilience to macroeconomic downturns, in particular when multiple measures are applied; (2) those measures tend to complement each other, as the impact of individual instruments is transmitted via different channels; and (3) the resilience benefits are more sizeable if the measures effectively limit the accumulation of risks before an economic downturn occurs, suggesting that an early, preemptive implementation of borrower-based measures is indeed warranted.
Micro Assessment Of Macroprudential Borrower Based Measures In Lithuania
DOWNLOAD
Author : Mantas Dirma
language : en
Publisher: International Monetary Fund
Release Date : 2023-10-27
Micro Assessment Of Macroprudential Borrower Based Measures In Lithuania written by Mantas Dirma 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 2023-10-27 with Business & Economics categories.
Despite having introduced borrower-based measures (BBM), Lithuania's housing and mortgage markets were booming during the low-interest-rate period, casting doubt on the macroprudential toolkit's ability to contain excessive mortgage growth. This paper assesses the adequacy of BBMs’ parametrization in Lithuania. We do so by building a novel lifetime expected credit loss framework that is founded on actual loan-level default and household income data. We show that the BBM package effectively contains mortgage credit risk and that housing loans are more resilient to stress than in the preregulatory era. Our BBM limit calibration exercise reveals that (1) in the low-rate environment, income-based measures could have been tighter; and (2) borrowers taking out secondary mortgages rightly are and should be required to pledge a higher down payment.
Macroprudential Policy Calibration For Greece
DOWNLOAD
Author : Mr. Marco Gross
language : en
Publisher: International Monetary Fund
Release Date : 2024-02-20
Macroprudential Policy Calibration For Greece written by Mr. Marco Gross 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 2024-02-20 with Business & Economics categories.
The Greek financial system has remained resilient underpinned by strengthening banks’ balance sheets, but still faces significant challenges ahead including the re-emergence of imbalances in the real estate market. Recognizing these imbalances, the authorities have recently introduced the necessary legal framework for setting borrower-based measures (BBMs), paving the way to activate both income- and collateral-based measures in near term. Simulations, which employ a quantitative framework combining micro- and macro-level data, show that BBMs would help enhance household resilience, with synergies when caps on debt service-to-income (DSTI) and loan-to-value (LTV) ratios are jointly implemented, leading over time to the more resilient banking system against potential risks. Caps could initially be set at less binding levels and gradually tightened based on a systemic risk assessment.
Slovak Republic
DOWNLOAD
Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2025-04-08
Slovak Republic 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 2025-04-08 with categories.
Since the 2007 FSAP update, the Národná banka Slovenska (NBS) has made significant progress in implementing and advancing the macroprudential policy framework. In response to a build-up of mortgage risks and imbalances in the residential real estate market, the NBS, as the designated macroprudential authority, issued a non-binding recommendation in 2014 on loan-to-value (LTV), debt-service-to-income (DSTI), and maturity limits. These recommendations became binding in early 2017 and have been progressively tightened, including by adding a debt-to-income (DTI) limit to the regulatory toolkit. Borrower-based measures (BBMs) have been complemented by the activation of a counter cyclical capital buffer (CCyB) in 2017, supplementing existing capital conservation buffer (CCoB) and other systemically important institutions (O-SII) buffers. Authorities have also established a credit register to collect individual borrower data for households. As a member of the euro area, Slovakia collaborates extensively with European regulators on macroprudential policymaking.
Staff Guidance Note On Macroprudential Policy
DOWNLOAD
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
Slovak Republic Selected Issues
DOWNLOAD
Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2021-06-21
Slovak Republic Selected Issues written by International Monetary Fund. European Dept. 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 2021-06-21 with Business & Economics categories.
Selected Issues
Panama
DOWNLOAD
Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2024-07-19
Panama 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 2024-07-19 with categories.
Since the 2012 FSAP, Panama has significantly strengthened its institutional framework and instruments for macroprudential policy-making. Among other reforms, to strengthen the transparency of and accountability for macroprudential policy, the Superintendency of Banks of Panama (SBP) and the Financial Coordination Council (CCF) have made significant progress in implementing several of the recent high-priority IMF technical assistance (TA) recommendations. These include establishing a dedicated Macroprudential Policy Committee (CPMP), updating the SBP’s decision making process for macroprudential policy issues, drafting a macroprudential policy strategy document, improving public communication via the Financial Stability Report (FSR), and addressing data gaps. The CCF also made notable advancements in establishing its own Committee on Macroprudential Policy, developing member entities’ capacity on macroprudential policy, and gathering data.
Evaluating The Net Benefits Of Macroprudential Policy
DOWNLOAD
Author : Mr.Nicolas Arregui
language : en
Publisher: International Monetary Fund
Release Date : 2013-07-17
Evaluating The Net Benefits Of Macroprudential Policy written by Mr.Nicolas Arregui 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 2013-07-17 with Business & Economics categories.
The paper proposes a simple, new, analytical framework for assessing the cost and benefits of macroprudential policies. It proposes a measure of net benefits in terms of parameters that can be estimated: the probability of crisis, the loss in output given crisis, policy effectiveness in bringing down both the probability and damage during crisis, and the output-cost of a policy decision. It discusses three types of policy leakages and identifies instruments that could best minimize the leakages. Some rules of thumb for policymakers are provided.
Luxembourg
DOWNLOAD
Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2024-06-24
Luxembourg 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 2024-06-24 with categories.
Strong policy support and high financial buffers are helping the financial sector weather the consecutive shocks, but pre-pandemic vulnerabilities have continued to rise. Ultra loose financial conditions, in part as a consequence of ECB’s monetary policy, have contributed to increased households’ indebtedness and stretched asset prices. Specifically, real estate prices had grown rapidly over 2018–22 with signs of overvaluation. Households’ indebtedness continued to rise, although partly mitigated by high households’ net wealth. These mounting real estate vulnerabilities prompted measures from the authorities, including on the macroprudential front, that bolstered the resilience of the banking sector but had mixed effects on the risk profile of new mortgages. The average LTV has dropped but the impact on DSTI and DTI has been more muted.
Republic Of Armenia
DOWNLOAD
Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2022-12-14
Republic Of Armenia written by International Monetary 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 2022-12-14 with Business & Economics categories.
The economy has maintained a strong momentum, driven by robust consumption and a surge in inflows of income, capital, business, and labor. Inflation has increased markedly due to the sharp rise in food and energy prices and the booming economy, but proactive monetary policy tightening and GDP growth deceleration are projected to bring inflation down in 2023. While robust growth should continue over the medium-term, uncertainty is elevated and downside risks are significant due to the ongoing war in Ukraine and sanctions on Russia, global financial tightening, slowdown in major trading partners, and high food and energy prices. Structural challenges also remain, including high unemployment, weak business environment, and low productivity growth.