Analysis of macroprudential policy approaches in the practice of the Czech Republic

Analýza přístupů makroobezřetnostní politiky v praxi ČR

Naďa Blahová

Český finanční a účetní časopis, 2019, vol. 2019, issue 4, 31-55

Abstract: The article deals with the analysis and evaluation of the application of macroprudential policy in the Czech Republic after five years of experience in identifying sub macroprudential objectives and selecting appropriate tools. It compares the recommended methodology of the European Systemic Risk Board with the methodology applied by the Czech National Bank. Selected sources of instability and corresponding tools for analysis are divided into two groups. The first group consists of tools that its significance and impact are subject to great discussion. It is a countercyclical capital reserve and risk management of retail loans secured by residential real estate. The second group of instruments represents a capital reserve to cover systemic risk and capital reserve for systemically important banks, methods for reducing the concentration of sovereign exposures and safety capital reserve.

Keywords: Macroprudential policy; Capital reserves; Countercyclical capital reserve; Morgage market; Residential real estate; Makroobezřetnostní politika; Kapitálové rezervy; Proticyklická kapitálová rezerva; Hypoteční trh; Rezidenční nemovitost (search for similar items in EconPapers)
JEL-codes: E58 G21 G28 (search for similar items in EconPapers)
Date: 2019
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DOI: 10.18267/j.cfuc.538

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