IMF deputy warns ‘leakages’ could undermine macro-prudential policy
Furusawa says macro-prudential tools could force financial activities into less regulated area
Senior IMF official Mitsuhiro Furusawa warned "leakages" could hamper the effectiveness of macro-prudential policy today (June 8), at the Bank of Korea International Conference.
"This may occur within a country through a shift of financial activities from the regulated to the less regulated," the deputy managing director said. "It also may occur across countries, as financial market participants gravitate to less regulated jurisdictions."
This is a growing concern. Economists at the European
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