Spain Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight Framework and Macroprudential Policy

This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for Spain in the areas of systemic risk oversight framework and macroprudential policy. Macroprudential oversight for banking is a shared responsibility between Banco de España (BdE) and the Eur...

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Bibliographic Details
Corporate Author: International Monetary Fund Monetary and Capital Markets Department
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2017
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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260 |a Washington, D.C.  |b International Monetary Fund  |c 2017 
300 |a 45 pages 
651 4 |a Spain 
653 |a Economic policy 
653 |a Depository Institutions 
653 |a Banks 
653 |a Finance 
653 |a Banks and banking 
653 |a Financial sector stability 
653 |a Financial sector policy and analysis 
653 |a General Financial Markets: Government Policy and Regulation 
653 |a Micro Finance Institutions 
653 |a Systemic risk assessment 
653 |a Mortgages 
653 |a Systemic risk 
653 |a Financial risk management 
653 |a Banks and Banking 
653 |a Financial Markets and the Macroeconomy 
653 |a Financial services industry 
653 |a Macroeconomics 
653 |a Banking 
653 |a Macroprudential policy 
653 |a Finance: General 
653 |a Macrofinancial analysis 
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520 |a This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for Spain in the areas of systemic risk oversight framework and macroprudential policy. Macroprudential oversight for banking is a shared responsibility between Banco de España (BdE) and the European Central Bank. The macroprudential policy stance appears broadly appropriate. BdE has put in place a framework for calibrating capital buffers. The countercyclical capital buffer is currently at zero given that a new financial cycle upturn has not started and a still-negative credit gap and weakly recovering housing prices. The existing macroprudential toolkit would benefit from expansion, particularly to include more effective tools to deal with risks associated with real estate exposures