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This paper presents case studies of macroprudential policy in five jurisdictions (Hong Kong SAR, the Netherlands, New Zealand, Singapore, and Sweden). The case studies describe the institutional framework, its evolution, the use of macroprudential tools, and the circumstances under which the tools have been used. The paper shows how macroprudential policy is conducted under a heterogeneous set of institutional frameworks. In all cases macroprudential tools have been used to address risks in the housing market. In addition, some of them have moved to enhance the resilience of their banks to more general cyclical and structural risks.

Financial crises -- Government policy -- Case studies. --- Financial crises -- Prevention -- Case studies. --- Financial risk management -- Case studies. --- Mortgages -- Case studies. --- Banks and Banking --- Macroeconomics --- Real Estate --- Industries: Financial Services --- Infrastructure --- Financial Institutions and Services: Government Policy and Regulation --- Financial Markets and the Macroeconomy --- Central Banks and Their Policies --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Housing Supply and Markets --- Economic Development: Urban, Rural, Regional, and Transportation Analysis --- Housing --- Finance --- Property & real estate --- Banking --- Housing prices --- Loans --- Macroprudential policy --- Financial institutions --- Prices --- Financial sector policy and analysis --- National accounts --- Economic policy --- Banks and banking --- Saving and investment --- Hong Kong Special Administrative Region, People's Republic of China

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This paper surveys institutional arrangements for macroprudential policy in Asia. Central banks in Asia typically have a financial stability mandate, and play a key role in the macroprudential framework. Smaller and more open economies with prudential regulation inside the central bank tend to have institutional arrangements that give the central bank a leading role. In larger and more complex economies where prudential regulation is outside the central bank, the financial stability mandate is usually shared with other agencies and the government tends to play a leading role. Domestic policy coordination is typically performed by a financial stability committee/other coordination body while cross-border cooperation is largely governed by Memoranda of Understanding.

Monetary policy --- Asia --- Economic conditions. --- Banks and Banking --- Finance: General --- Macroeconomics --- Business and Financial --- Public Finance --- Financial Institutions and Services: Government Policy and Regulation --- Central Banks and Their Policies --- General Financial Markets: Government Policy and Regulation --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial Markets and the Macroeconomy --- Taxation, Subsidies, and Revenue: General --- Finance --- Banking --- Financial services law & regulation --- Public finance & taxation --- Financial sector stability --- Macroprudential policy --- Financial regulation and supervision --- Systemic risk --- Financial sector policy and analysis --- Institutional arrangements for revenue administration --- Revenue administration --- Financial services industry --- Banks and banking --- Economic policy --- Law and legislation --- Financial risk management --- Revenue --- Hong Kong Special Administrative Region, People's Republic of China