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Institutional Arrangements for Macroprudential Policy in Asia

Author

Listed:
  • Cheng Hoon Lim
  • Mr. Rishi S Ramchand
  • Mrs. Helen W Wagner
  • Mr. Xiaoyong Wu

Abstract

This paper surveys institutional arrangements for macroprudential policy in Asia. Central banks in Asia typically have a financial stability mandate, and play a key role in the macroprudential framework. Smaller and more open economies with prudential regulation inside the central bank tend to have institutional arrangements that give the central bank a leading role. In larger and more complex economies where prudential regulation is outside the central bank, the financial stability mandate is usually shared with other agencies and the government tends to play a leading role. Domestic policy coordination is typically performed by a financial stability committee/other coordination body while cross-border cooperation is largely governed by Memoranda of Understanding.

Suggested Citation

  • Cheng Hoon Lim & Mr. Rishi S Ramchand & Mrs. Helen W Wagner & Mr. Xiaoyong Wu, 2013. "Institutional Arrangements for Macroprudential Policy in Asia," IMF Working Papers 2013/165, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2013/165
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    References listed on IDEAS

    as
    1. Erlend Nier & Luis Ignacio Jácome & Jacek Osinski & Pamela Madrid, 2011. "Institutional Models for Macroprudential Policy," IMF Staff Discussion Notes 11/18, International Monetary Fund.
    2. Marianne Gizycki & Philip Lowe, 2000. "The Australian Financial System in the 1990s," RBA Annual Conference Volume (Discontinued), in: David Gruen & Sona Shrestha (ed.),The Australian Economy in the 1990s, Reserve Bank of Australia.
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    1. Malovaná, Simona & Hodula, Martin & Gric, Zuzana & Bajzík, Josef, 2023. "Macroprudential policy in central banks: Integrated or separate? Survey among academics and central bankers," Journal of Financial Stability, Elsevier, vol. 65(C).
    2. Mr. Thierry Tressel & Ms. Yuanyan S Zhang, 2016. "Effectiveness and Channels of Macroprudential Instruments: Lessons from the Euro Area," IMF Working Papers 2016/004, International Monetary Fund.

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