Israel’s Fischer on the meaning of macroprudential policy
The definition of the term macroprudential policy is by no means a straightforward or simple matter, Stanley Fischer, the governor of the Bank of Israel, said in an address to a conference of the central bank's research department on 30 December.
However, it was widely accepted that it was a policy aimed at reducing the level of systemic risk and enhancing the financial system's ability to withstand shocks.
"The purpose of the policy is to avoid the situation that developed in several parts of
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