Macroprudential Approach to Regulation-Scope and Issues

Shyamala Gopinath
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Shyamala Gopinath: Asian Development Bank Institute

No 286, ADBI Working Papers from Asian Development Bank Institute

Abstract: This paper provides an overview of the Reserve Bank of India's approach to macroprudential regulation and systemic risk management, and reviews lessons drawn from the Indian experience. It emphasizes the need for harmonization of monetary policy and prudential objectives, which may not be possible if banking supervision is separated from central banks. It also notes that supervisors need to have the necessary independence and flexibility to act in a timely manner on the basis of available information. Macroprudential regulation is an inexact science with limitations and needs to be used in conjunction with other policies to be effective.

Keywords: macroprudential regulation; systemic risk management; monetary policy; banking supervision; central banks (search for similar items in EconPapers)
JEL-codes: E52 E58 G28 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2011-06-06
New Economics Papers: this item is included in nep-ban, nep-cba, nep-mac, nep-mon and nep-reg
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