Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/217603 
Year of Publication: 
2016
Citation: 
[Journal:] Journal of Central Banking Theory and Practice [ISSN:] 2336-9205 [Volume:] 5 [Issue:] 3 [Publisher:] De Gruyter Open [Place:] Warsaw [Year:] 2016 [Pages:] 79-98
Publisher: 
De Gruyter Open, Warsaw
Abstract: 
The crisis pointed to the necessity for strong and stable financial system resistant to potential risks and shocks. Macroprudential policy is used to identify, monitor and asses systemic risks to financial stability. Therefore, it is very important to create effective and efficient macroprudential policy. To achieve this, it is crucial to create a strong institutional framework. This paper deals with the importance of macroprudential policy for financial system stability. The first part of the paper explains the macroprudential policy and its connection with other economic policies. The second part refers to the necessity of building strong institutional framework and the importance of providing clear responsibilities for macroprudential policy, as long as precise determination of responsibilities is very suggested and important for further functioning and policy implementation. Responsibilities for macroprudential policy and macroprudential supervision defers among countries.
Subjects: 
macroprudential policy
financial stability
economic policies
institutional framework.
JEL: 
E52
E58
E61
E62
G18
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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