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Experiences with Macroprudential Policy—Five Case Studies
Author:
Mr. Salim M. Darbar
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and
Mr. Xiaoyong Wu
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Series:
IMF Working Papers
Volume/Issue:
Volume 2015: Issue 123
Language:
English
Publication Date:
19 Jun 2015
DOI:
https://doi.org/10.5089/9781513500812.001
ISBN:
9781513500812
ISSN:
1018-5941
Pages:
41
Keywords:
WP; mortgage; loan; bank; interest rate; ratio; macroprudential; instruments; tools; credit; LTV ratio; bank lending; LTV cap; repayment ability; liquidity mismatch ratio; mismatch ratio; bank assets amount; housing price growth; mortgage interest deduction; LTI ratio; assets amount; Mortgages; Housing prices; Loans; Macroprudential policy; Housing; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper presents case studies of macroprudential policy in five jurisdictions (Hong Kong SAR, the Netherlands, New Zealand, Singapore, and Sweden). The case studies describe the institutional framework, its evolution, the use of macroprudential tools, and the circumstances under which the tools have been used. The paper shows how macroprudential policy is conducted under a heterogeneous set of institutional frameworks. In all cases macroprudential tools have been used to address risks in the housing market. In addition, some of them have moved to enhance the resilience of their banks to more general cyclical and structural risks.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund