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

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  • Celeska, Frosina
  • Gligorova, Viktorija
  • Krstevska, Aneta

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.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 5770.

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Date of creation: 01 Aug 2011
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Handle: RePEc:wbk:wbrwps:5770

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Related research

Keywords: Debt Markets; Banks&Banking Reform; Emerging Markets; Currencies and Exchange Rates; Bankruptcy and Resolution of Financial Distress;

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Cited by:
  1. Aleksandra Iwulska & Naotaka Sugawara & Juan Zalduendo, 2012. "Financial Integration in Emerging Europe: an Enviable Development Opportunity with Tail Risks," CASE Network Studies and Analyses, CASE-Center for Social and Economic Research 438, CASE-Center for Social and Economic Research.
  2. IRC Expert Group of the ESCB, 2012. "Financial stability challenges for EU acceding and candidate countries: making financial systems more resilient in a challenging environment," Occasional Paper Series 136, European Central Bank.
  3. Jerome Vandenbussche & Ursula Vogel & Enrica Detragiache, 2012. "Macroprudential Policies and Housing Price," IMF Working Papers 12/303, International Monetary Fund.

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