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Macroprudential policy: objectives, instruments and indicators

Author

Listed:
  • Javier Mencía

    (Banco de España)

  • Jesús Saurina

    (Banco de España)

Abstract

This document presents the analytical framework recently developed by the Banco de España for the implementation of its macroprudential policy. The methodology described uses a broad set of indicators that enables macroprudential risks to be monitored through risk mapping. This framework will provide support for the Banco de España’s broad macroprudential policy stance. Este documento presenta el marco analítico desarrollado recientemente por el Banco de España para la puesta en marcha de su política macroprudencial. La metodología descrita incorpora un amplio conjunto de indicadores que permiten realizar un seguimiento de los riesgos macroprudenciales a través de un mapa de riesgos. El marco servirá de soporte para definir la orientación general de la política macroprudencial del Banco de España.

Suggested Citation

  • Javier Mencía & Jesús Saurina, 2016. "Macroprudential policy: objectives, instruments and indicators," Occasional Papers 1601, Banco de España.
    • Handle: RePEc:bde:opaper:1601
    as

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    File URL: http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosOcasionales/16/Fich/do1601e.pdf
    File Function: First version, January 2014
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    Citations

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    Cited by:

    1. Ernest Dautovic, 2019. "Has Regulatory Capital Made Banks Safer? Skin in the Game vs Moral Hazard," Cahiers de Recherches Economiques du Département d'économie 19.03, Université de Lausanne, Faculté des HEC, Département d’économie.
    2. Bedayo, Mikel & Estrada, Ángel & Saurina, Jesús, 2020. "Bank capital, lending booms, and busts: Evidence from Spain over the last 150 years," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 1(1).
    3. Fabrizio Venditti & Francesco Columba & Alberto Maria Sorrentino, 2018. "A risk dashboard for the Italian economy," Questioni di Economia e Finanza (Occasional Papers) 425, Bank of Italy, Economic Research and International Relations Area.
    4. Zsuzsanna Hosszu & Gergely Lakos, 2022. "Early Warning Performance of Univariate Credit-to-GDP Gaps," MNB Occasional Papers 2022/142, Magyar Nemzeti Bank (Central Bank of Hungary).
    5. Arce, Fernando, 2021. "Private Overborrowing under Sovereign Risk," MPRA Paper 113176, University Library of Munich, Germany.

    More about this item

    Keywords

    early warning indicators; macroprudential policy stance; macroeconomic actual conditions;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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