Cross-border spillover effects of macroprudential policies: a conceptual framework
Task Force on cross-border Spillover Effects of macroprudential measures Financial Stability Committee,
Christoffer Kok and
Dennis Reinhardt ()
No 242, Occasional Paper Series from European Central Bank
Due to the international dimension of the financial sector within the EU and beyond, domestically oriented macroprudential policies have the potential to create material cross-border spillover effects. This occasional paper provides a detailed overview of the academic and empirical literature on cross-border effects of macroprudential policies. It also summarises a stocktaking exercise, conducted by a task force of the ESCB’s Financial Stability Committee (FSC), on existing national approaches within the EU for assessing and monitoring such cross-border spillover effects. The paper accompanies an FSC report presenting a framework to be used by macroprudential authorities when assessing cross-border spillover effects induced by enacted or planned policy measures. JEL Classification: E42, E58, F36, G21
Keywords: banking union; cross-border spillovers; European Central Bank; financial stability; macroprudential policies; systemic risks (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbops:2020242
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