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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

Abstract: 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)
Date: 2020-06
New Economics Papers: this item is included in nep-mac
Note: 508948
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