Macroprudential Goals, Implementation and Crossborder Communication

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: 'http://ssrn.com/abstract=3101163' Macroprudential Frameworks, Implementation and Relationship with Other Policies