Singapore : Financial Sector Assessment Program; Technical Note-Macroprudential Policy.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Monetary and Capital Markets Department.

Series:

IMF Staff Country Reports; Country Report ; No. 2019/227

IMF Staff Country Reports

Language:

English

Subjects (All):

Financial risk.

Physical Description:

1 online resource (42 pages).

Place of Publication:

Washington, D.C. : International Monetary Fund, 2019.

Summary:

This technical note evaluates the macroprudential policy framework in Singapore with a focus on the price effect of macroprudential instruments. It assesses the domestic institutional arrangement, systemic risk monitoring framework, and macroprudential policy toolkit. The note assesses the strengths and weaknesses of the institutional arrangements for macroprudential policymaking and provides recommendations on how to enhance them further. It also describes the existing systemic risk monitoring framework and provides options to strengthen it. The use of macroprudential instruments in recent years and their effects on residential prices have also been discussed. The institutional framework for macroprudential policymaking has been revised and contains a clear mandate and well-defined objectives. The macroprudential mandate is assigned to dedicated committees within Monetary Authority of Singapore, limiting risk of dual mandates for the central bank. The authorities have taken important steps in recent years to develop the macroprudential policy framework and address relevant recommendations.

Notes:

Description based on print version record.

ISBN:

9781498326025

1498326021

9781498326056

1498326056