Institutional Arrangements for Macroprudential Policy in Asia

By Cheng Hoon Lim, Rishi S Ramchand, Helen W Wagner, Xiaoyong Wu

July 17, 2013

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Format: Chicago

Cheng Hoon Lim, Rishi S Ramchand, Helen W Wagner, and Xiaoyong Wu. Institutional Arrangements for Macroprudential Policy in Asia, (USA: International Monetary Fund, 2013) accessed December 22, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper surveys institutional arrangements for macroprudential policy in Asia. Central banks in Asia typically have a financial stability mandate, and play a key role in the macroprudential framework. Smaller and more open economies with prudential regulation inside the central bank tend to have institutional arrangements that give the central bank a leading role. In larger and more complex economies where prudential regulation is outside the central bank, the financial stability mandate is usually shared with other agencies and the government tends to play a leading role. Domestic policy coordination is typically performed by a financial stability committee/other coordination body while cross-border cooperation is largely governed by Memoranda of Understanding.

Subject: Banking, Financial regulation and supervision, Financial sector policy and analysis, Financial sector stability, Institutional arrangements for revenue administration, Macroprudential policy, Revenue administration, Systemic risk

Keywords: Asia and Pacific, Authority, Bank, Banking, Banking ordinance, Banking regulator, Business conduct regulator, CB model, Central bank, Central bank in Asia, Central bank involvement, Central bank of Malaysia Act, Conduct regulator, Economies in the CB model, Executive branch, Financial sector stability, Financial stability, Financial system, Institutional arrangements, Institutional arrangements for revenue administration, Long-standing responsibility, Macroprudential, Macroprudential policy, Regulation, Systemic risk, WP

Publication Details

Pages:

22
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2013/165
Stock No:

WPIEA2013165
ISBN:

9781484338360
ISSN:

1018-5941

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