The Asian Banker

A macro-prudential supervision framework to enhance financial stability
Wang Zhaoxing, vice chairman of the China Banking Regulatory Commission, feels that macro-prudential policy tools should be a mix of rules and discretion.

Jan 15, 2013 | Wang Zhaoxing

The global financial crisis highlighted the complementary relationship between the macro-prudential and micro-prudential elements of effective supervision. History has shown that neither price stability nor effective supervision at the individual firm level is sufficient to secure financial stability. Macro-prudential supervision has been widely regarded as a new element in the financial stability framework. Macro-prudential analysis, macro-prudential policy toolkit and relevant institutional arrangements have been acknowledged as three key elements of a macro-prudential framework. Macro-prudential…

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Categories: Regulation, Risk and Regulation
Keywords: Wang Zhaoxing, CBRC, PBoC, CSRC, CIRC, Macro-Prudential Analysis, D-SIB
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