Most financial stability committees lack policy tools, researchers say
Many committees lack good internal processes and ability to implement policies, authors say
The majority of financial stability committees (FSCs) created to implement macro-prudential policies lack adequate policy tools, says research published by US think-tank the Brookings Institution.
In New financial stability governance structures and central banks, Rochelle Edge and Nellie Liang study the institutional frameworks developed in 58 countries. They say that only a quarter of them have both good processes and the tools to carry out macro-prudential actions.
Instead, the authors say
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