Institutional Arrangements for Macroprudential Policy in Asia
23 Pages Posted: 8 Aug 2013
Date Written: July 2013
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.
Keywords: Macroprudential Policy, Asia, Central banks, Financial stability, Central bank role, banking, financial stability, institutional arrangements, macroprudential, regulation, financial stability, banking, financial system, deposit insurance, financial services, financial regulation, prudential regulation, financial sector, monetary authority, financial institutions, banking supervision, financial markets, financial deregulation, bank supervision, central banking, offshore banking, financial systems, banking sector, global stock markets, bank of indonesia, derivatives markets, banking crises, bank act, bank governors, bank branches, bank failure, bank of japan, banking system, banking regulation
JEL Classification: G28, E58
Suggested Citation: Suggested Citation