Russian Federation: Financial Sector Assessment Program: Technical Note-Macroprudential Policy
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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.
Series:
Country Report No. 2016/307
Subject:
Correspondent banking Financial sector policy and analysis Financial sector stability Financial services Macroprudential policy Macroprudential policy instruments Systemic risk
English
Publication Date:
September 22, 2016
ISBN/ISSN:
9781475538489/1934-7685
Stock No:
1RUSEA2016010
Pages:
42
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