Financial Stability, Systemic Risk and Macroprudential Policy

Jan Frait () and Zlatuse Komarkova ()

Chapter Thematic Article 1 in CNB Financial Stability Report 2010/2011, 2011, pp 96-111 from Czech National Bank, Research and Statistics Department

Abstract: This article aims to open a debate on creating a macroprudential policy framework in the Czech Republic. It starts by describing how the CNB defines financial stability and what place macroprudential policy has within it. It then gives the sources of systemic risk and outlines the mechanisms which lead first to the accumulation and subsequently to the materialisation of such risk. It goes on to compare the operational framework of macroprudential policy with the traditional monetary policy framework. Tools and actions which can be included in the financial stability and macroprudential policy toolkit are subsequently incorporated into this framework.

Date: 2011
ISBN: 978-80-87225-34-9
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:cnb:ocpubc:fsr1011/1

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