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Morocco: Technical Note-Macroprudential Policy: Institutional Arrangements and Instruments

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  • International Monetary Fund

Abstract

This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for Morocco in the area of macroprudential policy, which can play an important role in mitigating financial stability risks in Morocco. The institutional framework is sound, but could be further strengthened. The current institutional setup comprising the Systemic Risk Surveillance and Coordination Committee provides a good framework, but remaining gaps could undermine its ability and willingness to act. Bank Al-Maghrib has recently taken important steps to advance financial stability analysis and develop a macroprudential policy framework. A risk mapping framework is now in place, a Financial Stability Report is now produced, and stress testing has been fine-tuned.

Suggested Citation

  • International Monetary Fund, 2016. "Morocco: Technical Note-Macroprudential Policy: Institutional Arrangements and Instruments," IMF Staff Country Reports 2016/330, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2016/330
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    References listed on IDEAS

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    1. Zsofia Arvai & Ananthakrishnan Prasad & Kentaro Katayama, 2014. "Macroprudential Policy in the GCC Countries," IMF Staff Discussion Notes 14/1, International Monetary Fund.
    2. Jacek Osinski & Katharine Seal & Mr. Lex Hoogduin, 2013. "Macroprudential and Microprudential Policies: Toward Cohabitation," IMF Staff Discussion Notes 2013/005, International Monetary Fund.
    3. Ms. Zsofia Arvai & Mr. Ananthakrishnan Prasad & Mr. Kentaro Katayama, 2014. "Macroprudential Policy in the GCC Countries," IMF Staff Discussion Notes 2014/001, International Monetary Fund.
    4. Jacek Osinski & Katharine Seal & Lex Hoogduin, 2013. "Macroprudential and Microprudential Policies; Toward Cohabitation," IMF Staff Discussion Notes 13/5, International Monetary Fund.
    5. Mr. Daniel C Hardy & Philipp Hochreiter, 2014. "A Simple Macroprudential Liquidity Buffer," IMF Working Papers 2014/235, International Monetary Fund.
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