Russian Federation : Financial Sector Assessment Program: Technical Note-Macroprudential Policy.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. European Dept.

Series:

IMF Staff Country Reports; Country Report ; No. 2016/307

IMF Staff Country Reports

Language:

English

Subjects (All):

Banks and banking, Central--Russia (Federation).

Banks and banking, Central.

Banks and banking--State supervision--Russia (Federation).

Banks and banking.

Fiscal policy--Russia (Federation).

Fiscal policy.

Financial risk management--Russia (Federation).

Financial risk management.

Physical Description:

1 online resource (43 pages) : color illustrations, charts.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2016.

Summary:

This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for the Russian Federation in the area of macroprudential policy. Financial stability oversight responsibilities are currently shared between the Central Bank of Russia (CBR) and the high-level interagency National Council on Ensuring Financial Stability. In recent years, the CBR has used a number of macroprudential tools to deal with risks, mainly those stemming from retail lending. The CBR has tightened provisioning requirements and increased capital risk weights to curb excessive growth of unsecured consumer lending, which has helped banks better handle credit risk that materialized. However, the CBR law should be amended to provide for a more comprehensive set of macroprudential tools.

Notes:

Includes bibliographical references.

Description based on online resource; title from PDF title page (ebrary, viewed October 21, 2016).

ISBN:

9781475538731

1475538731