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FSB: More work on systemic risks

Thursday 27 October 2011 - by Andrew Hickley | 8:00pm BST


However the FSB's report argues that more work must be done to provide guidance on macroprudential policy frameworks that support international consistency.

Developing this advice will be a "gradual process", given that there is still more to be learned about addressing systemic stress in national situations, it says.

Further research is also needed to understand the effect that one country's policies can have towards the stability of others, the report adds.

"There is more to be learned on designing and implementing macroprudential tools to address identified systemic stress in a national context," it continues.


"At the international level, these challenges are compounded by the need to better understand the channels of international transmission of risks and financial instability, and the interactions between domestic and global stability.

"Further work will also be needed on the interactions between macroprudential and other policies (notably monetary policy), and on the effects of exchange rate arrangements, tax provisions, and different levels of international financial integration, on the desirable degree of coordination across countries."

Send us your thoughts (in strict confidence) or submit an article in response:
Email: andrew.hickley@gfsnews.com




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