Sectoral indicators for applying the Banco de España’s new macroprudential tools
Artículo de revista
| Authors: | ; ; |
|---|---|
| Format: | Article |
| Publication date: | 2022 |
| Country: | España |
| Institution: | Banco de España |
| Repository: | Repositorio Institucional del Banco de España |
| OAI Identifier: | oai:repositorio.bde.es:123456789/22982 |
| Online Access: | https://repositorio.bde.es/handle/123456789/22982 |
| Access Level: | Open access |
| Keyword: | Macroprudential policy Systemic risk Early warning indicators Sectoral component of the countercyclical capital buffer Limits on sectoral concentration Bancos centrales y otras autoridades monetarias Regulación y supervisión de instituciones financieras Riesgos y liquidez |
| _version_ | 1878731386947371008 |
|---|---|
| author | Broto, Carmen |
| author2 | Cáceres, Esther Melnychuk, Mariya |
| author2_role | author author |
| author_browse | Broto, Carmen Cáceres, Esther Melnychuk, Mariya |
| author_facet | Broto, Carmen Cáceres, Esther Melnychuk, Mariya |
| author_role | author |
| collection | Repositorio Institucional del Banco de España |
| description | Artículo de revista |
| eu_rights_str_mv | openAccess |
| format | article |
| id | ES_2e87ccf72b6f62b31ff02abf11b2c19c |
| institution | Banco de España |
| instname_str | Banco de España |
| network_acronym_str | ES |
| network_name_str | España |
| oai_identifier_str | oai:repositorio.bde.es:123456789/22982 |
| publishDate | 2022 |
| publishDateSort | 2022 |
| publisher | Banco de España Madrid : Banco de España, 2022 |
| publisherStr | Banco de España Madrid : Banco de España, 2022 |
| reponame_str | Repositorio Institucional del Banco de España |
| spelling | Sectoral indicators for applying the Banco de España’s new macroprudential tools Broto, Carmen Cáceres, Esther Melnychuk, Mariya Macroprudential policy Systemic risk Early warning indicators Sectoral component of the countercyclical capital buffer Limits on sectoral concentration Bancos centrales y otras autoridades monetarias Regulación y supervisión de instituciones financieras Riesgos y liquidez Artículo de revista Since December 2021 the Banco de España has three new macroprudential tools (Circular 5/2021): the sectoral component of the countercyclical capital buffer, limits on sectoral concentration, and limits and conditions on loan origination. The new sectoral instruments will allow it to address the risks that are concentrated in specific sectors, for which the aggregate macroprudential tools would be less effective, as they are applied equally across all sectors. In order to apply these tools, any potential vulnerabilities building up in the different sectors must be previously identified by means of adequate indicators. This article analyses the battery of sectoral indicators proposed in the circular, which may be useful for activating these new macroprudential tools. Their calculation methodology is similar to that used for the general countercyclical capital buffer indicators. In addition, a study of their predictive power is conducted, which shows their efficiency in identifying risks early. According to these indicators, on data up to 2021 Q3, no warning signals have been observed suggesting that these new tools should be activated. Banco de España Madrid : Banco de España, 2022 https://repositorio.bde.es/handle/123456789/22982 |
| spellingShingle | Sectoral indicators for applying the Banco de España’s new macroprudential tools Broto, Carmen Macroprudential policy Systemic risk Early warning indicators Sectoral component of the countercyclical capital buffer Limits on sectoral concentration Bancos centrales y otras autoridades monetarias Regulación y supervisión de instituciones financieras Riesgos y liquidez |
| title | Sectoral indicators for applying the Banco de España’s new macroprudential tools |
| title_full | Sectoral indicators for applying the Banco de España’s new macroprudential tools |
| title_fullStr | Sectoral indicators for applying the Banco de España’s new macroprudential tools |
| title_full_unstemmed | Sectoral indicators for applying the Banco de España’s new macroprudential tools |
| title_short | Sectoral indicators for applying the Banco de España’s new macroprudential tools |
| title_sort | Sectoral indicators for applying the Banco de España’s new macroprudential tools |
| topic | Macroprudential policy Systemic risk Early warning indicators Sectoral component of the countercyclical capital buffer Limits on sectoral concentration Bancos centrales y otras autoridades monetarias Regulación y supervisión de instituciones financieras Riesgos y liquidez |
| topic_facet | Macroprudential policy Systemic risk Early warning indicators Sectoral component of the countercyclical capital buffer Limits on sectoral concentration Bancos centrales y otras autoridades monetarias Regulación y supervisión de instituciones financieras Riesgos y liquidez |
| url | https://repositorio.bde.es/handle/123456789/22982 |