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Macroprudential Approach to Regulation-Scope and Issues

Author

Listed:
  • Gopinath, Shyamala

    (Asian Development Bank Institute)

Abstract

This paper provides an overview of the Reserve Bank of India's approach to macroprudential regulation and systemic risk management, and reviews lessons drawn from the Indian experience. It emphasizes the need for harmonization of monetary policy and prudential objectives, which may not be possible if banking supervision is separated from central banks. It also notes that supervisors need to have the necessary independence and flexibility to act in a timely manner on the basis of available information. Macroprudential regulation is an inexact science with limitations and needs to be used in conjunction with other policies to be effective.

Suggested Citation

  • Gopinath, Shyamala, 2011. "Macroprudential Approach to Regulation-Scope and Issues," ADBI Working Papers 286, Asian Development Bank Institute.
    • Handle: RePEc:ris:adbiwp:0286
    as

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    File URL: http://www.adbi.org/files/2011.06.02.wp286.macroprudential.regulation.scope.issues.pdf
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    References listed on IDEAS

    as
    1. Bank for International Settlements, 2010. "Macroprudential instruments and frameworks: a stocktaking of issues and experiences," CGFS Papers, Bank for International Settlements, number 38.
    2. Robert McCauley & Patrick McGuire & Goetz von Peter, 2010. "The architecture of global banking: from international to multinational?," BIS Quarterly Review, Bank for International Settlements, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    macroprudential regulation; systemic risk management; monetary policy; banking supervision; central banks;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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