Czech Republic: Technical Note on Macroprudential Policy Framework

International Monetary Fund

No 2012/175, IMF Staff Country Reports from International Monetary Fund

Abstract: This technical note examines the macroprudential policy framework in the Czech Republic. The Czech National Bank (CNB) has been actively developing its macroprudential policy framework for some time, including most recently the establishment of a separate Financial Stability Department. The authorities’ first line of defense against threats to financial stability has been sound macroeconomic policies. The Czech financial system overall appears stable. Stress tests indicate that banks would have sufficient capital and liquidity buffers to withstand a double-dip recession.

Keywords: ISCR; CR; CNB; authority; financial market; price; monetary policy; stability objective; CNB law; liquidity buffer; market participant; risk warning; financial market committee; Financial sector stability; Macroprudential policy; Systemic risk; Macroprudential policy instruments; Countercyclical capital buffers; Global (search for similar items in EconPapers)
Pages: 23
Date: 2012-07-17
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