Most financial stability committees lack policy tools, researchers say

financial-crisis

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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