Macroprudential policies, such as caps on loan-to-value (LTV) ratios, have become part of the policy paradigm in emerging markets and advanced countries alike. Given that housing is the most important asset in household portfolios, relaxing or tightening access to mortgages may affect the...

Macroprudential policies, such as caps on loan-to-value (LTV) ratios, have become part of the policy paradigm in emerging markets and advanced countries alike. Given that housing is the most important asset in household portfolios, relaxing or tightening access to mortgages may affect the...

This discussion explores the allocation of E&P in a distribution to which Sec. 355 applies, PTI under Sec. 959, and various proposed and final versions of the regulations under Secs. 959 and 367, in an effort to analyze the allocation, if any, of PTI with respect to a distribution to which Sec....