Implementing the Macroprudential Approach to Financial Regulation and Supervision

摘要: There is now a widespread recognition in the policy community of need to strengthen macroprudential orientation fi regulatory and supervisory frameworks. At same time, usage term “macroprudential” remains ambiguous. This essay summarises specifi c defi nition characterisation that was developed early 2000s at BIS outlines policies needed for implementing approach. The are discussed with reference two dimensions rst cross-sectional dimension concerned how aggregate risk distributed nancial system given point time. issue here calibrate prudential instruments so as address common exposures across institutions contribution each institution system-wide tail risk. second time evolves over dampen inherent procyclicality system, seen key source instability. also briefl y considers implications adoption approach institutional set-up.