Institutional Arrangements for Macroprudential Policy in Asia

Cheng Lim, Rishi Ramchand, Helen Wagner and Xiaoyong Wu

No 2013/165, IMF Working Papers from International Monetary Fund

Abstract: This paper surveys institutional arrangements for macroprudential policy in Asia. Central banks in Asia typically have a financial stability mandate, and play a key role in the macroprudential framework. Smaller and more open economies with prudential regulation inside the central bank tend to have institutional arrangements that give the central bank a leading role. In larger and more complex economies where prudential regulation is outside the central bank, the financial stability mandate is usually shared with other agencies and the government tends to play a leading role. Domestic policy coordination is typically performed by a financial stability committee/other coordination body while cross-border cooperation is largely governed by Memoranda of Understanding.

Keywords: WP; central bank; CB model; bank; financial system; authority; banking; financial stability; institutional arrangements; macroprudential; regulation; banking regulator; long-standing responsibility; executive branch; business conduct regulator; central bank in Asia; conduct regulator; central bank involvement; economies in the CB model; central bank of Malaysia Act; banking ordinance; Financial sector stability; Macroprudential policy; Systemic risk; Institutional arrangements for revenue administration; Asia and Pacific (search for similar items in EconPapers)
Pages: 22
Date: 2013-07-17
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Citations: View citations in EconPapers (3)

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