Sentences with phrase «of macroprudential tools»
Second, policymakers must carefully monitor evolving risks to the financial system and be realistic about the ability of macroprudential tools to influence these developments.
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«The best thing we can do is to support the transition of the Canadian economy and leave it to the authorities who have the macroprudential tools related to the housing market.»
There are also macroprudential tools — regulatory measures that can be used to promote not just the safety of an individual financial institution, but also that of the entire financial system.
Relying upon further macroprudential policy tools to contain housing risks in a timely manner is set against the mixed success of such measures to date.
Ellis L (2012), «Macroprudential Policy: A Suite of Tools or a State of Mind?»
The limitations of macroprudential policies reflect the potential for risks to emerge outside sectors subject to regulation, the potential for supervision and regulation to miss emerging risks, the uncertain efficacy of new macroprudential tools such as a countercyclical capital buffer, and the potential for such policy steps to be delayed or to lack public support.14 Given such limitations, adjustments in monetary policy may, at times, be needed to curb risks to financial stability.15
«Nonetheless, participants generally agreed that the Committee should not completely rule out the possibility of using monetary policy to address financial stability risks, particularly in circumstances in which such risks significantly threatened the achievement of its dual mandate and when macroprudential tools had been or were likely to be ineffective at mitigating those risks.»
Since leaving the SEC in January 2008, she has served as Rapporteur for the Group of Thirty's report, The Structure of Financial Supervision: Approaches and Challenges in a Global Marketplace and as Project Director for their report, Enhancing Financial Stability and Resilience: Macroprudential Policy, Tools and Systems for the Future.