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Macroprudential frameworks, implementation and relationships with other policies

In: Macroprudential policy frameworks, implementation and relationships with other policies

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  • South African Reserve Bank

    (Bank for International Settlements)

Abstract

This note outlines the South African Reserve Bank’s proposed framework for achieving its new financial stability mandate. It sets out the institutional structure, the focus and objectives of macroprudential policy and the decision-making process to be applied. It identifies and describes three important stages in the process of implementing macroprudential policy, namely completing a systemic risk assessment, building a case for macroprudential intervention, and selecting and applying the macroprudential instruments.

Suggested Citation

  • South African Reserve Bank, 2017. "Macroprudential frameworks, implementation and relationships with other policies," BIS Papers chapters, in: Bank for International Settlements (ed.), Macroprudential policy frameworks, implementation and relationships with other policies, volume 94, pages 329-337, Bank for International Settlements.
    • Handle: RePEc:bis:bisbpc:94-25
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    File URL: http://www.bis.org/publ/bppdf/bispap94x.pdf
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    References listed on IDEAS

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    1. Daniel Covitz & Nellie Liang & Tobias Adrian, 2015. "Financial Stability Monitoring," Annual Review of Financial Economics, Annual Reviews, vol. 7(1), pages 357-395, December.
    2. Cerutti, Eugenio & Claessens, Stijn & Laeven, Luc, 2017. "The use and effectiveness of macroprudential policies: New evidence," Journal of Financial Stability, Elsevier, vol. 28(C), pages 203-224.
    3. Gabriele Galati & Richhild Moessner, 2013. "Macroprudential Policy – A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 27(5), pages 846-878, December.
    4. Eugenio Cerutti & Ricardo Correa & Elisabetta Fiorentino & Esther Segalla, 2017. "Changes in Prudential Policy Instruments - A New Cross-Country Database," International Journal of Central Banking, International Journal of Central Banking, vol. 13(2), pages 477-503, March.
    5. Bank for International Settlements, 2012. "Operationalising the selection and application of macroprudential instruments," CGFS Papers, Bank for International Settlements, number 48.
    6. Charles A.E. Goodhart & Enrico Perotti, 2013. "Preventive macroprudential policy," Journal of Financial Management, Markets and Institutions, Società editrice il Mulino, issue 1, pages 115-123, January.
    7. Freixas, Xavier & Laeven, Luc & Peydró, José-Luis, 2015. "Systemic Risk, Crises, and Macroprudential Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262028697, December.
    8. Claessens, Stijn & Ghosh, Swati R. & Mihet, Roxana, 2013. "Macro-prudential policies to mitigate financial system vulnerabilities," Journal of International Money and Finance, Elsevier, vol. 39(C), pages 153-185.
    9. International Monetary Fund, 2011. "Macroprudential Policy: What Instruments and How to Use them? Lessons From Country Experiences," IMF Working Papers 2011/238, International Monetary Fund.
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    Cited by:

    1. Hylton Hollander & Dawie van Lill, 2019. "A Review of the South African Reserve Bank’s Financial Stability Policies," Working Papers 11/2019, Stellenbosch University, Department of Economics.

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