IMF researchers say CCBs ‘show less promise’ than other macro-prudential tools

looking up into the clouds between buildings in the City of London

Counter-cyclical capital buffers "show less promise" than other macro-prudential tools in reducing the build-up of banking system vulnerabilities, according to researchers at the IMF.

In a working paper published today, Stijn Claessens, Swati Ghosh and Roxana Mihet analyse the impact of macro-prudential policies deployed in 48 countries between 2000 and 2010 on around 2,820 banks.

They group the policies into different categories according to whether they are aimed at borrowers or financial inst

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