Russian Federation: Financial Sector Assessment Program: Technical Note-Macroprudential Policy

September 22, 2016

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Russian Federation: Financial Sector Assessment Program: Technical Note-Macroprudential Policy, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for the Russian Federation in the area of macroprudential policy. Financial stability oversight responsibilities are currently shared between the Central Bank of Russia (CBR) and the high-level interagency National Council on Ensuring Financial Stability. In recent years, the CBR has used a number of macroprudential tools to deal with risks, mainly those stemming from retail lending. The CBR has tightened provisioning requirements and increased capital risk weights to curb excessive growth of unsecured consumer lending, which has helped banks better handle credit risk that materialized. However, the CBR law should be amended to provide for a more comprehensive set of macroprudential tools.

Subject: Correspondent banking, Financial sector policy and analysis, Financial sector stability, Financial services, Macroprudential policy, Macroprudential policy instruments, Systemic risk

Keywords: Bank, Capital risk weight, CBR governor, CBR law, CBR regulation, CBR's responsibility, Consumer lending, Correspondent banking, CR, Financial sector stability, Global, ISCR, Lending, Liquidity, Macroprudential policy, Macroprudential policy instruments, Risk, Systemic risk

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/307
Stock No:

1RUSEA2016010
ISBN:

9781475538489
ISSN:

1934-7685

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