Macroprudential Goals, Implementation and Crossborder Communication
4 Pages Posted: 24 Jan 2018
Date Written: December 2017
Abstract
The People’s Bank of China (PBOC) plays a critical role in the country’s macroprudential regulation. In recent years, the PBOC has put in place a series of macroprudential tools and developed its macroprudential assessment (MPA) system. During implementation, the ex ante and ex post appraisal of macroprudential tools are essential and such tools, targeting both the overall financial system and specific markets, play critical roles in the macroprudential framework. Although challenging, effective communication helps policy implementation. In the context of globalisation, national macroprudential policy implementation can create spillovers, which implies the need for international coordination.
Full Publication: Macroprudential Frameworks, Implementation and Relationship with Other Policies
Keywords: macroprudential policy, the People’s Bank of China, policy communication, cross-border effects
JEL Classification: E61
Suggested Citation: Suggested Citation