Czech Republic: Technical Note on Macroprudential Policy Framework
International Monetary Fund, Jul 17, 2012 - Business & Economics - 23 pages
This technical note examines the macroprudential policy framework in the Czech Republic. The Czech National Bank (CNB) has been actively developing its macroprudential policy framework for some time, including most recently the establishment of a separate Financial Stability Department. The authorities’ first line of defense against threats to financial stability has been sound macroeconomic policies. The Czech financial system overall appears stable. Stress tests indicate that banks would have sufficient capital and liquidity buffers to withstand a double-dip recession.
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assess asset price bubbles authorities balance sheets banking system Basel buffers needed buildup of systemic capital and liquidity CNB Board CNB considers CNB’s conﬂict contagion from parent countercyclical buffer Countercyclical Capital Buffer countries country’s Czech banks Czech National Bank Czech Republic Czech subsidiaries discussed ESRB European Union exposure to parent Figure Financial Market Supervision ﬁnancial stability financial stability analysis Financial Stability Department financial stability functions financial stability objectives financial system global economic crisis High Ongoing home supervisor incentives Institutional Framework International Monetary Fund levels liquidity buffers LTV limit macroeconomic macroeconomic policies macroprudential instruments macroprudential measures macroprudential policy framework macroprudential tools mainly monetary policy mortgages parent banks percent policy and financial pre-crisis press release price stability RBNZ real estate price region regulatory relatively renewed credit booms Reserve Bank risk Warnings risk weights Romania shock sources of systemic Stability Report Stress tests indicate Value-added tax Zealand