Macroprudential Regulation of Credit Booms and Busts : The Experience of the National Bank of the Republic of Macedonia

Celeska, Frosina; Gligorova, Viktorija; Krstevska, Aneta

dc.creator	Celeska, Frosina
dc.creator	Gligorova, Viktorija
dc.creator	Krstevska, Aneta
dc.date	2012-03-19T18:04:08Z
dc.date	2012-03-19T18:04:08Z
dc.date	2011-08-01
dc.date.accessioned	2023-02-17T20:58:43Z
dc.date.available	2023-02-17T20:58:43Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110822101635
dc.identifier	http://hdl.handle.net/10986/3532
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/244496
dc.description	This paper provides an overview of the macroprudential measures undertaken by the National Bank of the Republic of Macedonia to prevent further deterioration of the systemic risk and to promote resilience of the banking system. The measures were generally aimed at addressing the time dimension of the systemic risk and were intended to protect the banking system against the increase of credit risk arising from the credit boom. The paper also outlines the future challenges facing financial regulation and supervision, as well as the most important quantitative and qualitative impacts of the utilized macroprudential measures.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5770
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	AMOUNT OF CAPITAL
dc.subject	AMOUNT OF CREDIT
dc.subject	AMOUNT OF LOANS
dc.subject	ASSETS RATIO
dc.subject	AUCTION
dc.subject	AUCTIONS
dc.subject	AUTO LOANS
dc.subject	BALANCE OF PAYMENTS
dc.subject	BALANCE SHEET
dc.subject	BALANCE SHEETS
dc.subject	BANK SUPERVISION
dc.subject	BANKING SECTOR
dc.subject	BANKING SERVICES
dc.subject	BANKING SYSTEM
dc.subject	BANKING SYSTEMS
dc.subject	BANKRUPTCY
dc.subject	BANKRUPTCY PROCEDURES
dc.subject	BONDS
dc.subject	BROKERAGE
dc.subject	BROKERAGE HOUSES
dc.subject	BROKERS
dc.subject	BUSINESS PRACTICES
dc.subject	CAPITAL ACCOUNT
dc.subject	CAPITAL ADEQUACY
dc.subject	CAPITAL FLOWS
dc.subject	CAPITAL INFLOW
dc.subject	CAPITAL MARKET
dc.subject	CAPITAL REQUIREMENT
dc.subject	CAPITAL REQUIREMENTS
dc.subject	CAPITAL SHARE
dc.subject	CENTRAL BANK
dc.subject	CENTRAL BANK BILLS
dc.subject	CENTRAL BANKS
dc.subject	COLLATERAL
dc.subject	COMMON SHARES
dc.subject	COMPULSORY DEPOSIT
dc.subject	CONSOLIDATION
dc.subject	CONSUMER LOANS
dc.subject	CONSUMER PRICE INDEX
dc.subject	CONTINGENCY PLAN
dc.subject	CREDIT CARDS
dc.subject	CREDIT EXPANSION
dc.subject	CREDIT EXPOSURE
dc.subject	CREDIT EXPOSURES
dc.subject	CREDIT GROWTH
dc.subject	CREDIT GROWTHS
dc.subject	CREDIT HISTORY
dc.subject	CREDIT PRODUCTS
dc.subject	CREDIT QUALITY
dc.subject	CREDIT RISK
dc.subject	CREDIT RISK MANAGEMENT
dc.subject	CREDITWORTHINESS
dc.subject	CURRENT ACCOUNT DEFICIT
dc.subject	DEBT
dc.subject	DEBT CRISIS
dc.subject	DEBT INSTRUMENTS
dc.subject	DEBTORS
dc.subject	DEPOSIT
dc.subject	DEPOSIT INTEREST
dc.subject	DEPOSIT INTEREST RATES
dc.subject	DEPOSITORY
dc.subject	DEPOSITORY INSTITUTIONS
dc.subject	DEPOSITS
dc.subject	DOMESTIC BANKING
dc.subject	DOMESTIC BANKS
dc.subject	DOMESTIC CURRENCY
dc.subject	DOMESTIC ECONOMY
dc.subject	DOMESTIC MARKET
dc.subject	ECONOMIC CRISIS
dc.subject	EMERGING MARKETS
dc.subject	EQUITY CAPITAL
dc.subject	EQUITY FUND
dc.subject	EQUITY FUNDS
dc.subject	EXCESS LIQUIDITY
dc.subject	EXCHANGE RATE
dc.subject	EXPORT MARKET
dc.subject	EXPORT PERFORMANCES
dc.subject	EXPORTERS
dc.subject	EXPOSURES
dc.subject	EXTERNAL BORROWING
dc.subject	FACTORING
dc.subject	FINANCIAL ASSETS
dc.subject	FINANCIAL COMPANIES
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL DEEPENING
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL REGULATION
dc.subject	FINANCIAL SECTOR
dc.subject	FINANCIAL SECTORS
dc.subject	FINANCIAL STABILITY
dc.subject	FINANCIAL SUPPORT
dc.subject	FINANCIAL SYSTEM
dc.subject	FOREIGN BANK
dc.subject	FOREIGN BANKS
dc.subject	FOREIGN CAPITAL
dc.subject	FOREIGN CURRENCIES
dc.subject	FOREIGN CURRENCY
dc.subject	FOREIGN DIRECT INVESTMENTS
dc.subject	FOREIGN EXCHANGE
dc.subject	FOREIGN EXCHANGE MARKET
dc.subject	FOREIGN EXCHANGE RESERVES
dc.subject	FOREIGN FINANCIAL INSTITUTIONS
dc.subject	FOREIGN INFLOWS
dc.subject	FOREIGN INSTITUTIONAL INVESTORS
dc.subject	FOREIGN INVESTORS
dc.subject	FOREIGN MARKET
dc.subject	FOREIGN OWNERS
dc.subject	FOREIGN OWNERSHIP
dc.subject	FUND MANAGEMENT
dc.subject	GOVERNMENT BORROWING
dc.subject	GOVERNMENT SECURITIES
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	GROWTH RATE
dc.subject	GROWTH RATES
dc.subject	HOME COUNTRY
dc.subject	HOUSING
dc.subject	HOUSING LOANS
dc.subject	INCOME
dc.subject	INFLATION
dc.subject	INFLATION EXPECTATIONS
dc.subject	INFLATIONARY PRESSURES
dc.subject	INSTITUTIONAL INVESTORS
dc.subject	INSTRUMENT
dc.subject	INSURANCE
dc.subject	INSURANCE COMPANIES
dc.subject	INTEREST RATE
dc.subject	INTEREST RATE CHANGE
dc.subject	INTEREST RATE SPREAD
dc.subject	INTERNAL AUDIT
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL CAPITAL
dc.subject	INTERNATIONAL CAPITAL FLOWS
dc.subject	INTERNATIONAL CAPITAL MARKET
dc.subject	INTERNATIONAL FINANCIAL MARKETS
dc.subject	INTERNATIONAL STANDARDS
dc.subject	INVESTMENT FUND
dc.subject	INVESTMENT FUNDS
dc.subject	ISSUANCE
dc.subject	LEGISLATION
dc.subject	LENDING INSTITUTIONS
dc.subject	LENDING INTEREST RATE
dc.subject	LENDING INTEREST RATES
dc.subject	LEVEL OF RISK
dc.subject	LIBERALIZATION
dc.subject	LIQUID ASSETS
dc.subject	LIQUIDATIONS
dc.subject	LIQUIDITY
dc.subject	LIQUIDITY POSITION
dc.subject	LIQUIDITY RATIO
dc.subject	LIQUIDITY RATIOS
dc.subject	LIQUIDITY RISK
dc.subject	LOAN
dc.subject	LOAN OBLIGATIONS
dc.subject	LOANS TO ENTERPRISES
dc.subject	MACROECONOMIC ENVIRONMENT
dc.subject	MACROECONOMIC STABILITY
dc.subject	MARKET CAPITALIZATION
dc.subject	MARKET PARTICIPANTS
dc.subject	MARKET TURNOVER
dc.subject	MATURITIES
dc.subject	MATURITY
dc.subject	MINIMUM CAPITAL ADEQUACY RATIO
dc.subject	MONETARY POLICY
dc.subject	NATIONAL BANK
dc.subject	NET SALES
dc.subject	NEW PRODUCTS
dc.subject	NONPERFORMING LOANS
dc.subject	NPL
dc.subject	OWNERSHIP STRUCTURE
dc.subject	PENSION
dc.subject	PENSION FUND
dc.subject	PENSION FUNDS
dc.subject	PENSION SYSTEM
dc.subject	PENSION SYSTEM REFORM
dc.subject	POLICY RESPONSE
dc.subject	PORTFOLIO
dc.subject	PORTFOLIO INVESTMENTS
dc.subject	PORTFOLIO QUALITY
dc.subject	POST-CRISIS PERIOD
dc.subject	POST-CRISIS PERIODS
dc.subject	POTENTIAL INVESTORS
dc.subject	PRICE STABILITY
dc.subject	PRIVATE CAPITAL
dc.subject	PRIVATE CAPITAL INFLOWS
dc.subject	PRIVATE EQUITY
dc.subject	PROPENSITY TO SAVE
dc.subject	REAL ESTATE
dc.subject	REAL SECTOR
dc.subject	REGULATORY TREATMENT
dc.subject	RESERVE
dc.subject	RESERVE REQUIREMENT
dc.subject	RESERVE REQUIREMENTS
dc.subject	RESERVES
dc.subject	RETAINED EARNINGS
dc.subject	RETURN
dc.subject	RISK MANAGEMENT
dc.subject	RISK REDUCTION
dc.subject	RISK WEIGHT
dc.subject	RISK WEIGHTS
dc.subject	SAVINGS
dc.subject	SECURITIES
dc.subject	SHAREHOLDERS
dc.subject	SMALL ECONOMIES
dc.subject	SOLVENCY
dc.subject	STOCK EXCHANGE
dc.subject	STRATEGIC INVESTORS
dc.subject	SUBSIDIARIES
dc.subject	SUBSIDIARY
dc.subject	SUPERVISORY AUTHORITY
dc.subject	SUPPLY OF CREDITS
dc.subject	SYSTEMIC RISK
dc.subject	TIER 1 CAPITAL
dc.subject	TRADE DEFICIT
dc.subject	TRADING
dc.subject	TRANSACTION
dc.subject	TRANSITION ECONOMIES
dc.subject	TRANSPORT
dc.subject	TURNOVER
dc.subject	UNSECURED CLAIMS
dc.subject	WITHDRAWAL
dc.subject	WORLD ECONOMY
dc.title	Macroprudential Regulation of Credit Booms and Busts : The Experience of the National Bank of the Republic of Macedonia
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	Europe and Central Asia
dc.coverage	Europe and Central Asia
dc.coverage	Europe
dc.coverage	Eastern Europe
dc.coverage	Macedonia, former Yugoslav Republic of
dc.coverage	North Macedonia (Formerly the Former Yugoslav Republic of Macedonia)