Morocco: Technical Note-Macroprudential Policy: Institutional Arrangements and Instruments

International Monetary Fund

No 2016/330, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for Morocco in the area of macroprudential policy, which can play an important role in mitigating financial stability risks in Morocco. The institutional framework is sound, but could be further strengthened. The current institutional setup comprising the Systemic Risk Surveillance and Coordination Committee provides a good framework, but remaining gaps could undermine its ability and willingness to act. Bank Al-Maghrib has recently taken important steps to advance financial stability analysis and develop a macroprudential policy framework. A risk mapping framework is now in place, a Financial Stability Report is now produced, and stress testing has been fine-tuned.

Keywords: ISCR; CR; CCSRS MaPP; Bank Al-Maghrib; bank; fiscal policy; regime; CCSRS member; CCSRS meeting; CCSRS MaPP framework; bank stress tests; MaPP authorities; bank vulnerability; BAM risk; liquidity support; bank funding; CCSRS' mission; Macroprudential policy; Financial sector stability; Systemic risk; Financial sector risk; Credit; Global; Europe (search for similar items in EconPapers)
Pages: 28
Date: 2016-11-07
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