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This Technical Note on Macroprudential Institutional Arrangements and Policies on Switzerland highlights that macroprudential prudential powers and responsibilities are split across agencies. There is one dedicated macroprudential tool, the Counter Cyclical Buffer, which has a specified framework for decision making and consultation. Developments in real estate and mortgage lending are important systemic concerns. Very loose monetary policy has driven interest rates down to historically low levels, accelerating mortgage lending and bringing total mortgage debt to more than 140 percent of gross domestic product. The authorities have taken measures to address these risks. It is recommended that transparency and accountability could be strengthened by highlighting cross agency activity and policy analysis related to financial stability and macroprudential policies to the public. In a medium-term perspective macroprudential arrangements should be reviewed while considering placing responsibility and powers for macroprudential policies with one institution or committee. Additional measures may be needed. Mortgages to businesses and for commercial purposes deserve further attention and measures.

Banks and banking --- State supervision --- Banks and Banking --- Finance: General --- Macroeconomics --- Real Estate --- Industries: Financial Services --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Real Estate Markets, Spatial Production Analysis, and Firm Location: General --- General Financial Markets: Government Policy and Regulation --- Financial Markets and the Macroeconomy --- Housing Supply and Markets --- Finance --- Property & real estate --- Banking --- Real estate prices --- Financial sector stability --- Macroprudential policy --- Financial institutions --- Prices --- Financial sector policy and analysis --- Housing prices --- Housing --- Financial services industry --- Economic policy --- Switzerland

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This 2015 Article IV Consultation highlights that decline in oil prices has adversely affected Kuwait’s fiscal and current account balances and slowed growth in 2014–15. Real non-oil GDP growth is projected to slow in 2015 and 2016, and pick up to 4 percent in the medium term, supported by government investment in infrastructure and private investment. The fiscal and external positions are projected to deteriorate further in 2015 and 2016, and improve somewhat over the medium term as oil prices and production recover partially.

Kuwait --- Economic conditions. --- Banks and Banking --- Exports and Imports --- Inflation --- Macroeconomics --- Real Estate --- Industries: Financial Services --- Statistics --- Energy: Demand and Supply --- Prices --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Real Estate Markets, Spatial Production Analysis, and Firm Location: General --- Price Level --- Deflation --- General Aggregative Models: General --- Banking --- Property & real estate --- Finance --- Econometrics & economic statistics --- Labour --- income economics --- Oil prices --- Real estate prices --- Energy prices --- Loans --- Financial institutions --- Banks and banking --- Housing --- National income --- Investments, Foreign --- Balance of payments --- Income economics

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A technical assistance (TA) mission was conducted during July 9–13, 2018 to assist the General Statistics Office of Vietnam (GSO) with the development of a residential property price index (RPPI). This was the first mission conducted to Vietnam under the auspices of the multi-annual STA Data for Decisions (D4D) trust fund. The main objective of TA provided to Vietnam under the D4D will be to assist the GSO to develop an RPPI. The GSO recently launched two initiatives to collect potential source data for the RPPI since taxation data are unreliable in respect of reported transaction prices, and the State Bank of Vietnam (SBV) does not collect loan level mortgage data.

Technical assistance --- Assistance, Technical --- Assistance, Technological --- Technological assistance --- Economic assistance --- Macroeconomics --- Real Estate --- Databases --- Nonagricultural and Nonresidential Real Estate Markets --- Labor Economics: General --- Real Estate Markets, Spatial Production Analysis, and Firm Location: General --- Data Collection and Data Estimation Methodology --- Computer Programs: General --- Price Level --- Inflation --- Deflation --- Property & real estate --- Labour --- income economics --- Data capture & analysis --- Land prices --- Labor --- Real estate prices --- Data collection --- Price indexes --- Prices --- Economic and financial statistics --- Housing --- Labor economics --- Economic statistics --- Vietnam --- Income economics

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This Technical Note discusses the findings and recommendations made in the 2017 Financial Sector Assessment Program for Luxembourg in areas of macroprudential framework and policies. Luxembourg has a large financial system that contributes a significant share of GDP and is globally interconnected. The institutional arrangement is broadly appropriate for effective macroprudential policy, but some areas should be strengthened. The monitoring and analysis of systemic risks by the Banque Centrale du Luxembourg is appropriate and performed on a timely basis. The authorities are encouraged to continue to increase efforts to monitor risks related to the investment fund industry.

Pensions--Luxembourg. --- Finance, Public--Luxembourg. --- Corporations--Taxation--Luxembourg. --- Finance: General --- Macroeconomics --- Real Estate --- Industries: Financial Services --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- General Financial Markets: Government Policy and Regulation --- Financial Markets and the Macroeconomy --- Real Estate Markets, Spatial Production Analysis, and Firm Location: General --- Finance --- Property & real estate --- Mutual funds --- Financial sector stability --- Macroprudential policy --- Systemic risk --- Real estate prices --- Financial institutions --- Financial sector policy and analysis --- Prices --- Financial services industry --- Economic policy --- Financial risk management --- Housing --- Luxembourg --- Pensions.

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This 2022 Article IV Consultation with the Republic of Lithuania highlights the recent spike in global energy and food prices and persistent supply bottlenecks have compounded inflationary pressures, disproportionately hurting the poor. The authorities’ response to the energy crisis aims to limit economic disruptions, provide targeted support to the vulnerable, and allow for market price signals. Higher revenues from inflation allow the budget to accommodate pressures for higher social and defense spending in the short-term, but difficult tradeoffs await down the road. The banking system has ample capital and liquidity buffers to withstand a weakening economic environment or even greater shocks. Further efforts are needed to mitigate money laundering risks in the financial sector, particularly from the dynamic and growing fintech sector. A comprehensive carbon tax will be necessary to achieve the authorities’ emission reduction objectives for 2030. Structural reforms are necessary to ensure continued income convergence. The authorities need to address structural impediments by accelerating reforms in education and healthcare, and by closing gaps in the transportation infrastructure, and reducing information asymmetries that limit access to financing for small and medium enterprises.

Money and Monetary Policy --- International Economics --- Inflation --- Macroeconomics --- Industries: Financial Services --- Labor --- Real Estate --- Monetary Policy --- International Agreements and Observance --- International Organizations --- Price Level --- Deflation --- Energy: Demand and Supply --- Prices --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Wages, Compensation, and Labor Costs: General --- Real Estate Markets, Spatial Production Analysis, and Firm Location: General --- Monetary economics --- International institutions --- Finance --- Labour --- income economics --- Property & real estate --- Monetary policy --- International organization --- Financial institutions --- International agencies --- Loans --- Wages --- Housing --- Fiscal policy --- Lithuania, Republic of