LEADER 04593oam 22007095 450 001 9910969645103321 005 20240404221408.0 010 $a9781464821004 010 $a1464821003 024 7 $a10.1596/978-1-4648-0085-6 035 $a(CKB)3710000000109782 035 $a(SSID)ssj0001321459 035 $a(PQKBManifestationID)11752285 035 $a(PQKBTitleCode)TC0001321459 035 $a(PQKBWorkID)11369680 035 $a(PQKB)11369094 035 $a(MiAaPQ)EBC1717614 035 $a(Au-PeEL)EBL1717614 035 $a(CaPaEBR)ebr10867286 035 $a(CaONFJC)MIL621881 035 $a(OCoLC)880457645 035 $a(OCoLC)ocn857740980 035 $a(US-djbf)18271943 035 $a(Perlego)1483914 035 $a(EXLCZ)993710000000109782 100 $a20140819d2014 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aMacroprudential policy framework : $ea practice guide /$fDamodaran Krishnamurti and Yejin Carol Lee 205 $a1st ed. 210 1$aWashington, D.C. :$cThe World Bank,$dc2014. 215 $aix, 61 pages $cillustrations ;$d26 cm 225 0 $aWorld Bank Study 300 $aBibliographic Level Mode of Issuance: Monograph 311 08$a9781464800856 311 08$a1464800855 320 $aIncludes bibliographical references. 327 $aIntroduction -- Macroprudential approach to supervision -- Institutional framework -- Early warning systems -- Macroprudential policy options -- Conclusion. 330 $aIn the wake of the recent global financial crisis and against the backdrop of the ongoing global financial sector reforms, macroprudential policy is being increasingly seen as a "must-do" reform. At the same time, some policy makers are keen on having a better understanding of what it is and how it works before they embark on implementing it. This Guide attempts to meet this need by providing easy-to-comprehend inputs and practical guidance for establishing and operating macroprudential policy framework as appropriate for relevant jurisdictions. While the elements discussed here can be relevant for several jurisdictions, this work is intended to primarily cater to the needs of policy makers in emerging market and developing economies (EMDEs) with the following characteristics: a simple bank-dominated system where other financial sector segments are small but growing; banks are supervised by the central bank; financial sector regulation and supervision is not fully integrated; and availability of quality data is not assured. The Guide begins with an introduction to the concept of macroprudential approach to policy and supervision, discusses the available options for institutional framework, including appropriate mandate, powers, structures, and governance arrangements. Next, it explains the components and objectives of early warning systems, how they can be designed and what makes them effective. The Guide also analyses the available range of macroprudential policy instruments, the risks or stresses that they can address and how these can be deployed. All through, the Guide also flags the challenges that the authorities are likely to encounter while establishing and operating macroprudential policy framework and components. Unique combinations of institutional, policy, and legal frameworks in each jurisdiction make it difficult to apply 330 8 $aacross-the-board and formulaic macroprudential policy solutions. Therefore, any guidance will need appropriate customization and nuancing to achieve best results in each jurisdiction. Accordingly, while offering practical advice, the Guide encourages the authorities to ask the right questions rather than trying to answer all questions that might be raised. Macroprudential policy can promote financial system stability, but it is not meant to replace other public policies, least of all a jurisdiction’s monetary and microprudential policies. 410 0$aWorld Bank e-Library. 606 $aFiscal policy$zDeveloping countries 607 $aDeveloping countries$xEconomic policy 615 0$aFiscal policy 676 $a339.5091724 700 $aKrishnamurti$b Damodaran$01805564 702 $aLee$b Yejin Carol 801 0$bDLC 801 1$bDLC 801 2$bYDX 801 2$bYDXCP 801 2$bBTCTA 801 2$bOCLCO 801 2$bCDX 801 2$bDLC 906 $aBOOK 912 $a9910969645103321 996 $aMacroprudential policy framework$94354236 997 $aUNINA