2010

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Policymaking From a "Macroprudential" Perspective in Emerging Market Economies

BIS working paper reviewing instruments used to mitigate effects of recurrent capital inflows

Bank for International Settlements working paper discussing instruments used to mitigate effects of recurrent capital inflows. The global financial crisis has raised interest in examining these instruments from a financial stability or macroprudential perspective. Instruments include foreign exchange market intervention and foreign reserve accumulation; measures to strengthen bank balance sheets and capital and measures to maintain the quality of credit or to influence credit growth or allocation and capital controls. Certain implementation issues are also discussed, including signals to which to respond, timing of prudential measures and procyclicality and effectiveness and calibration. An unresolved question is how the instruments described are to be used in conjunction with interest rate policy. Over the medium term, these instruments raise concerns because they may impair development of the financial system.

Publisher: International Organizations Release date: Dec 2010

Type: Consultative, discussion and issues paper

Topics: Macroprudential

Sectors: Banking

HKMA Supervisory Policy - General Risk Management Controls

HKMA guideline on general controls banks are to have in place in their risk management systems

Hong Kong Monetary Authority statutory guideline covers general systems and controls relating to risk management. Stresses importance of each bank having a sound firm-wide risk management framework that enables it to set its appetite and tolerance for risks, and to support board and senior management in managing risks from an integrated, firm-wide perspective and in identifying and reacting to emerging and growing risks in a timely and effective manner.

Publisher: National Regulators Release date: Dec 2010 Country: Hong Kong, China

Type: Guideline

Peer: HKMA Supervisory Policy - Stress-Testing

Topics: Risk management, Compliance function, Crisis management and contingency planning

Sectors: Banking

Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems

BCBS standards to protect financial stability and promote sustainable economic growth

Original Basel III Framework which covers both microprudential and macroprudential elements. The Framework sets out higher and better-quality capital, better risk coverage, the introduction of a leverage ratio as a backstop to the risk-based requirement, measures to promote the build up of capital that can be drawn down in periods of stress, and the introduction of two global liquidity standards.

Release date: Nov 2010

Type: Standard

Deadline for comments:

Guidance for National Authorities Operating the Countercyclical Capital Buffer

BCBS guidance on the implementation of Basel III

Basel Committee on Banking Supervision supplement to the requirements set out in the Basel III rules text. The primary aim of the countercyclical capital buffer is to achieve the macroprudential goal of protecting the banking sector from periods of excess aggregate credit growth that have often been associated with the build-up of system-wide risk.

Publisher: Global Standard-Setting Bodies Release date: Nov 2010

Type: Guideline

Parent: Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems

Peer: HKMA Supervisory Policy - Countercyclical Capital Buffer (CCyB) – Approach to its Implementation, Frequently Asked Questions on the Basel III Countercyclical Capital Buffer, Range of Practices in Implementing the Countercyclical Capital Buffer Policy

Topics: Capital adequacy

Sectors: Banking

Supervisory Framework

Update to OSFI's overall supervisory framework

Office of the Superintendent of Financial Institutions of Canada updated supervisory framework describing principles, concepts and core process that OSFI uses to guide its supervision of regulated firms. Accommodates unique aspects of deposit-taking, life insurance, and property and casualty insurance sectors. Reflects significant developments in financial services industry that have changed the nature of risks and risk management of financial institutions.

Publisher: National Regulators Release date: Nov 2010 Country: Canada

Type: Supervisory Practice

Peer: Composite Risk Rating and Assessment Criteria

Topics: Supervisory framework, Risk-based supervision

Sectors: Banking, Insurance

Contingent Capital and Bail-In Debt: Tools for Bank Resolution

BOC discussion paper on improving resolution of large failing banks

Bank of Canada report considers two related approaches to improving the resolution of large, interconnected failing banks: i) contingent capital and ii) bail-in debt. Focuses on the types of contingent instrument that have been subject of proposals by Office of the Superintendent of Financial Institutions (OSFI) of Canada and, more recently, by the Basel Committee on Banking Supervision (BCBS), and that have been a focus of banking reform policy discussions more generally.

Publisher: National Regulators Release date: Nov 2010 Country: Canada

Type: Consultative, discussion and issues paper

Topics: Recovery and resolution, Systemically important financial institutions (SIFIs), Capital adequacy

Sectors: Banking

Guidelines for the Regulation of Conflicts of Interest Facing Market Intermediaries: Final Report

Guideline for IOSCO EMC member jurisdictions for efficient regulation of conflict of interests facing market intermediaries

International Organization of Securities Commissions guidelines for efficient regulation of conflict of interests facing market intermediaries, protect interests of investors and ensure proper management of risk. Examines role of market intermediaries in financial markets and highlights different scenarios where conflicts of interest can take place. Identifies remedies and creates suitable guidelines for use by Emerging Markets Committee (EMC) jurisdictions for better management of conflicts of interest.

Release date: Nov 2010

Type: Guideline

Deadline for comments:

Intensity and Effectiveness of SIFI Supervision: Recommendations for Enhanced Supervision

FSB recommendations for reducing the probability and impact of SIFI failure

Financial Stability Board recommendations for making the supervision of financial institutions more intense, effective and reliable. While the recommendations are primarily aimed at making SIFIs less susceptible to failure, there are also lessons for the supervision of financial institutions more generally.

Publisher: Global Standard-Setting Bodies Release date: Nov 2010

Type: Guideline

Peer: Guidance on Supervisory Interaction With Financial Institutions on Risk Culture

Topics: Systemically important financial institutions (SIFIs), Risk management, Supervisory framework

Sectors: Banking, Insurance, Securities

IOPS Principles of Private Pension Supervision

IOPS principles covering necessary requirements for an effective pension supervisory regime

International Organization of Pension Supervisors principles designed to cover occupational and personal pension plans and/or pension funds. Outlines 10 main areas for effective pension supervision: i) objectives; ii) independence; iii) adequate resources; iv) adequate powers; v) risk-based supervision; vi) proportionality and consistency; vii) consultation and cooperation; viii) confidentiality; ix) transparency; and x) governance.

Publisher: Global Standard-Setting Bodies Release date: Nov 2010

Type: Guideline

Peer: Methodology for Review of Supervisory Systems Using IOPS Principles, Good Practices on Consumer Protection Related to Private Pension Systems

Topics: Transparency and disclosure, Corporate governance, Risk-based supervision, Pension and retirement plans

Sectors: Pensions

Reducing the Moral Hazard Posed by Systemically Important Financial Institutions

FSB policy framework for addressing the systemic and moral hazard risks associated with systemically important financial institutions (SIFIs)

FSB policy framework for addressing the systemic and moral hazard risks associated with systemically important financial institutions (SIFIs) whose disorderly failure, because of their size, complexity and systemic interconnectedness, would cause significant disruption to the wider financial system and economic activity. Sets out recommendations for improving the authorities' ability to resolve SIFIs in an orderly manner, without exposing tax-payers to loss, while maintaining continuity of their vital economic functions. Also recommends that at least globally systemic institutions should have higher loss-absorbency capacity than the minimum levels agreed in Basel III, and must be subject to more intensive coordinated supervision.

Release date: Oct 2010

Type: Guideline

Deadline for comments:

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Resources

382 records

Policymaking From a "Macroprudential" Perspective in Emerging Market Economies

HKMA Supervisory Policy - General Risk Management Controls

Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems

Guidance for National Authorities Operating the Countercyclical Capital Buffer

Supervisory Framework

Contingent Capital and Bail-In Debt: Tools for Bank Resolution

Guidelines for the Regulation of Conflicts of Interest Facing Market Intermediaries: Final Report

Intensity and Effectiveness of SIFI Supervision: Recommendations for Enhanced Supervision

IOPS Principles of Private Pension Supervision

Reducing the Moral Hazard Posed by Systemically Important Financial Institutions

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