Countercyclical Financial Regulation

Ren, Haocong

dc.creator	Ren, Haocong
dc.date	2012-03-19T18:05:04Z
dc.date	2012-03-19T18:05:04Z
dc.date	2011-10-01
dc.date.accessioned	2023-02-17T20:59:51Z
dc.date.available	2023-02-17T20:59:51Z
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_20111004135445
dc.identifier	http://hdl.handle.net/10986/3587
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/244551
dc.description	The global financial crisis has focused much attention on procyclicality, particularly in the context of a macroprudential framework. This paper reviews a set of prudential measures that can be adopted by national authorities to deal with procyclicality and discusses issues in designing and implementing such measures. For developing countries, in addition to some general considerations on policy design and implementation, a range of issues may warrant special attention. These include the balance between financial stability and financial development objectives, selection and calibration of policy instruments according to national circumstances and taking into account data limitations and capacity constraints as well as other practical challenges, and continued efforts to improve supervisory independence, supervisory powers and analytical capacity and to ensure adequate resources in order to perform the required tasks. Given the limited practical experience with countercyclical prudential measures, developing countries (as well as developed countries) will have to ascend a learning curve and experiment with select instruments while carefully monitoring and evaluating their effectiveness over time before a framework matures.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5823
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCOUNTING
dc.subject	ACCOUNTING PRINCIPLES
dc.subject	ACCOUNTING RULES
dc.subject	ACCOUNTING STANDARD
dc.subject	ACCOUNTING STANDARDS
dc.subject	AMOUNT OF CREDIT
dc.subject	ARBITRAGE
dc.subject	ASSET PRICE
dc.subject	ASSET PRICES
dc.subject	AVAILABILITY OF CREDIT
dc.subject	BALANCE SHEET
dc.subject	BANK FAILURES
dc.subject	BANK OF ENGLAND
dc.subject	BANK OF KOREA
dc.subject	BANK OF SPAIN
dc.subject	BANK PROFITS
dc.subject	BANKING INSTITUTIONS
dc.subject	BANKING SECTOR
dc.subject	BANKING SUPERVISION
dc.subject	BANKING SYSTEM
dc.subject	BANKS
dc.subject	BORROWER
dc.subject	BUSINESS CYCLE
dc.subject	BUSINESS CYCLES
dc.subject	CAPACITY CONSTRAINTS
dc.subject	CAPITAL ADEQUACY
dc.subject	CAPITAL ALLOCATION
dc.subject	CAPITAL BASE
dc.subject	CAPITAL CONTROL
dc.subject	CAPITAL CONTROLS
dc.subject	CAPITAL FLOW
dc.subject	CAPITAL FLOWS
dc.subject	CAPITAL INFLOWS
dc.subject	CAPITAL MARKET
dc.subject	CAPITAL MOVEMENTS
dc.subject	CAPITAL PLANNING
dc.subject	CAPITAL RATIO
dc.subject	CAPITAL REQUIREMENT
dc.subject	CAPITAL REQUIREMENTS
dc.subject	CAPITAL STANDARDS
dc.subject	CENTRAL BANK
dc.subject	COLLATERAL
dc.subject	COMMODITIES
dc.subject	COMMODITY
dc.subject	COMMODITY PRICES
dc.subject	CONSOLIDATED SUPERVISION
dc.subject	CONSUMER CREDIT
dc.subject	CONSUMER PROTECTION
dc.subject	CORPORATE GOVERNANCE
dc.subject	CREDIBILITY
dc.subject	CREDIT ASSESSMENT
dc.subject	CREDIT CARD
dc.subject	CREDIT CARD DEBT
dc.subject	CREDIT EXPANSION
dc.subject	CREDIT GROWTH
dc.subject	CREDIT INSTITUTIONS
dc.subject	CREDIT INTERMEDIATION
dc.subject	CREDIT LOSS
dc.subject	CREDIT LOSSES
dc.subject	CREDIT QUALITY
dc.subject	CREDIT RATING
dc.subject	CREDIT RATING AGENCIES
dc.subject	CREDIT RISK
dc.subject	CREDITOR
dc.subject	CREDITOR RIGHTS
dc.subject	CREDITORS
dc.subject	CREDITWORTHINESS
dc.subject	CROSS-BORDER CAPITAL
dc.subject	CURRENCY
dc.subject	CURRENCY MISMATCHES
dc.subject	DEBT
dc.subject	DEBT SERVICE
dc.subject	DEFAULT RISK
dc.subject	DEFAULTS
dc.subject	DERIVATIVES
dc.subject	DEVELOPING COUNTRIES
dc.subject	DEVELOPING COUNTRY
dc.subject	DEVELOPING ECONOMIES
dc.subject	DOMESTIC BANKS
dc.subject	ECONOMIC CONDITIONS
dc.subject	ECONOMIC PERFORMANCE
dc.subject	EMERGING MARKET
dc.subject	EMERGING MARKET ECONOMIES
dc.subject	EQUITY CAPITAL
dc.subject	EXPOSURES
dc.subject	EXTERNAL CREDIT RATINGS
dc.subject	FAIR VALUE
dc.subject	FINANCIAL ACCOUNTING
dc.subject	FINANCIAL ASSET
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL DEEPENING
dc.subject	FINANCIAL DEVELOPMENT
dc.subject	FINANCIAL INSTITUTION
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL INSTRUMENTS
dc.subject	FINANCIAL MARKET
dc.subject	FINANCIAL REGULATION
dc.subject	FINANCIAL SECTOR
dc.subject	FINANCIAL SERVICES
dc.subject	FINANCIAL STABILITY
dc.subject	FINANCIAL STATEMENTS
dc.subject	FINANCIAL STRESS
dc.subject	FINANCIAL SYSTEM
dc.subject	FINANCIAL SYSTEM STABILITY
dc.subject	FINANCIAL SYSTEMS
dc.subject	FINANCIAL TRANSACTIONS
dc.subject	FISCAL POLICIES
dc.subject	FISCAL POLICY
dc.subject	FLOW OF CREDIT
dc.subject	FOREIGN BANKS
dc.subject	HOST COUNTRIES
dc.subject	HOST COUNTRY
dc.subject	HOUSEHOLD INCOME
dc.subject	HOUSING
dc.subject	INCOME SMOOTHING
dc.subject	INFORMATION ASYMMETRY
dc.subject	INFORMATION TECHNOLOGY
dc.subject	INSTRUMENT
dc.subject	INTANGIBLE
dc.subject	INTANGIBLE ASSETS
dc.subject	INTANGIBLES
dc.subject	INTEREST RATE
dc.subject	INTEREST RATES
dc.subject	INTERNATIONAL ACCOUNTING STANDARDS
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL CAPITAL
dc.subject	INTERNATIONAL DEBATE
dc.subject	INTERNATIONAL FINANCIAL INSTITUTIONS
dc.subject	INTERNATIONAL STANDARD
dc.subject	LAWS
dc.subject	LEGAL FRAMEWORK
dc.subject	LETTERS OF CREDIT
dc.subject	LIQUIDITY
dc.subject	LIQUIDITY MANAGEMENT
dc.subject	LOAN
dc.subject	LOAN AMOUNT
dc.subject	LOAN QUALITY
dc.subject	MACROECONOMIC CONDITIONS
dc.subject	MACROECONOMIC MANAGEMENT
dc.subject	MACROECONOMIC POLICIES
dc.subject	MACROECONOMIC POLICY
dc.subject	MANDATES
dc.subject	MARKET RISK
dc.subject	MARKET STRUCTURE
dc.subject	MATURITY
dc.subject	MIGRATION
dc.subject	MINIMUM CAPITAL REQUIREMENT
dc.subject	MINIMUM CAPITAL REQUIREMENTS
dc.subject	MONETARY AUTHORITIES
dc.subject	MONETARY CONTROL
dc.subject	MONETARY POLICY
dc.subject	MORTGAGE
dc.subject	MORTGAGE LOANS
dc.subject	MORTGAGES
dc.subject	NET OPERATING INCOME
dc.subject	NON-PERFORMING LOANS
dc.subject	OPEN ECONOMIES
dc.subject	POLICY RESPONSES
dc.subject	POLITICAL ECONOMY
dc.subject	PORTFOLIO
dc.subject	PORTFOLIOS
dc.subject	PRICE MOVEMENT
dc.subject	PRICE STABILITY
dc.subject	PRIVATE SECTOR DEVELOPMENT
dc.subject	PROBABILITY OF DEFAULT
dc.subject	PRUDENTIAL REGULATION
dc.subject	PRUDENTIAL REQUIREMENTS
dc.subject	RATING AGENCIES
dc.subject	REAL INTEREST
dc.subject	REAL INTEREST RATES
dc.subject	REGULATOR
dc.subject	REGULATORS
dc.subject	REGULATORY AUTHORITIES
dc.subject	REGULATORY CAPITAL
dc.subject	REGULATORY ENVIRONMENT
dc.subject	REGULATORY FRAMEWORK
dc.subject	REGULATORY STRUCTURE
dc.subject	REGULATORY TREATMENTS
dc.subject	REPO
dc.subject	REPO RATE
dc.subject	REPOS
dc.subject	RESERVE
dc.subject	RESERVE BANK
dc.subject	RESERVE BANK OF INDIA
dc.subject	RESERVE REQUIREMENTS
dc.subject	RESERVES
dc.subject	RETAINED EARNINGS
dc.subject	RISK EXPOSURE
dc.subject	RISK MANAGEMENT
dc.subject	RISK MANAGEMENT SYSTEMS
dc.subject	RISK WEIGHTED ASSETS
dc.subject	RISK WEIGHTS
dc.subject	SECURITIES
dc.subject	SHORT-TERM CAPITAL
dc.subject	SMALL BANKS
dc.subject	SOCIAL COSTS
dc.subject	SOLVENCY
dc.subject	STANDARD ASSETS
dc.subject	STATISTICAL ANALYSIS
dc.subject	SUBSIDIARIES
dc.subject	SUBSIDIARY
dc.subject	SUPERVISION OF BANKS
dc.subject	SUPERVISORY AUTHORITIES
dc.subject	SUPERVISORY AUTHORITY
dc.subject	SUPERVISORY POWER
dc.subject	SUPERVISORY POWERS
dc.subject	SUPPLY OF CREDIT
dc.subject	SYSTEMIC RISK
dc.subject	TAX
dc.subject	TAX DEDUCTION
dc.subject	TAX POLICIES
dc.subject	TAX TREATMENTS
dc.subject	TIER 1 CAPITAL
dc.subject	TRADING
dc.subject	TRANSACTION
dc.subject	TRANSPARENCY
dc.subject	VOLATILITY
dc.subject	WRITEOFFS
dc.title	Countercyclical Financial Regulation
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	The World Region
dc.coverage	The World Region