Macroprudential regulation of credit booms and busts: the experience of the National Bank of the Republic of Macedonia

Frosina Celeska, Viktorija Gligorova and Aneta Krstevska

No 5770, Policy Research Working Paper Series from The World Bank

Abstract: This paper provides an overview of the macroprudential measures undertaken by the National Bank of the Republic of Macedonia to prevent further deterioration of the systemic risk and to promote resilience of the banking system. The measures were generally aimed at addressing the time dimension of the systemic risk and were intended to protect the banking system against the increase of credit risk arising from the credit boom. The paper also outlines the future challenges facing financial regulation and supervision, as well as the most important quantitative and qualitative impacts of the utilized macroprudential measures.

Keywords: Debt Markets; Banks&Banking Reform; Emerging Markets; Currencies and Exchange Rates; Bankruptcy and Resolution of Financial Distress (search for similar items in EconPapers)
Date: 2011-08-01
New Economics Papers: this item is included in nep-rmg
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Citations: View citations in EconPapers (9)

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