Sectoral indicators for applying the Banco de España’s new macroprudential tools

Artículo de revista

Detalles Bibliográficos
Autores: Broto, Carmen, Cáceres, Esther, Melnychuk, Mariya
Tipo de recurso: artículo
Fecha de publicación:2022
País:España
Institución:Banco de España
Repositorio:Repositorio Institucional del Banco de España
OAI Identifier:oai:repositorio.bde.es:123456789/22982
Acceso en línea:https://repositorio.bde.es/handle/123456789/22982
Access Level:acceso abierto
Palabra clave:Macroprudential policy
Systemic risk
Early warning indicators
Sectoral component of the countercyclical capital buffer
Limits on sectoral concentration
Bancos centrales y otras autoridades monetarias
Regulación y supervisión de instituciones financieras
Riesgos y liquidez
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spelling Sectoral indicators for applying the Banco de España’s new macroprudential toolsBroto, CarmenCáceres, EstherMelnychuk, MariyaMacroprudential policySystemic riskEarly warning indicatorsSectoral component of the countercyclical capital bufferLimits on sectoral concentrationBancos centrales y otras autoridades monetariasRegulación y supervisión de instituciones financierasRiesgos y liquidezArtículo de revistaSince December 2021 the Banco de España has three new macroprudential tools (Circular 5/2021): the sectoral component of the countercyclical capital buffer, limits on sectoral concentration, and limits and conditions on loan origination. The new sectoral instruments will allow it to address the risks that are concentrated in specific sectors, for which the aggregate macroprudential tools would be less effective, as they are applied equally across all sectors. In order to apply these tools, any potential vulnerabilities building up in the different sectors must be previously identified by means of adequate indicators. This article analyses the battery of sectoral indicators proposed in the circular, which may be useful for activating these new macroprudential tools. Their calculation methodology is similar to that used for the general countercyclical capital buffer indicators. In addition, a study of their predictive power is conducted, which shows their efficiency in identifying risks early. According to these indicators, on data up to 2021 Q3, no warning signals have been observed suggesting that these new tools should be activated.Banco de EspañaMadrid : Banco de España, 20222022info:eu-repo/semantics/articleapplication/pdfhttps://repositorio.bde.es/handle/123456789/22982reponame:Repositorio Institucional del Banco de Españainstname:Banco de EspañaInglésFinancial Stability Review / Banco de España, 42 (Spring 2022), p. 101-117Versión en español 123456789/21561info:eu-repo/semantics/openAccessoai:repositorio.bde.es:123456789/229822026-06-20T12:44:27Z
dc.title.none.fl_str_mv Sectoral indicators for applying the Banco de España’s new macroprudential tools
title Sectoral indicators for applying the Banco de España’s new macroprudential tools
spellingShingle Sectoral indicators for applying the Banco de España’s new macroprudential tools
Broto, Carmen
Macroprudential policy
Systemic risk
Early warning indicators
Sectoral component of the countercyclical capital buffer
Limits on sectoral concentration
Bancos centrales y otras autoridades monetarias
Regulación y supervisión de instituciones financieras
Riesgos y liquidez
title_short Sectoral indicators for applying the Banco de España’s new macroprudential tools
title_full Sectoral indicators for applying the Banco de España’s new macroprudential tools
title_fullStr Sectoral indicators for applying the Banco de España’s new macroprudential tools
title_full_unstemmed Sectoral indicators for applying the Banco de España’s new macroprudential tools
title_sort Sectoral indicators for applying the Banco de España’s new macroprudential tools
dc.creator.none.fl_str_mv Broto, Carmen
Cáceres, Esther
Melnychuk, Mariya
author Broto, Carmen
author_facet Broto, Carmen
Cáceres, Esther
Melnychuk, Mariya
author_role author
author2 Cáceres, Esther
Melnychuk, Mariya
author2_role author
author
dc.subject.none.fl_str_mv Macroprudential policy
Systemic risk
Early warning indicators
Sectoral component of the countercyclical capital buffer
Limits on sectoral concentration
Bancos centrales y otras autoridades monetarias
Regulación y supervisión de instituciones financieras
Riesgos y liquidez
topic Macroprudential policy
Systemic risk
Early warning indicators
Sectoral component of the countercyclical capital buffer
Limits on sectoral concentration
Bancos centrales y otras autoridades monetarias
Regulación y supervisión de instituciones financieras
Riesgos y liquidez
description Artículo de revista
publishDate 2022
dc.date.none.fl_str_mv 2022
dc.type.none.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://repositorio.bde.es/handle/123456789/22982
url https://repositorio.bde.es/handle/123456789/22982
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Financial Stability Review / Banco de España, 42 (Spring 2022), p. 101-117
Versión en español 123456789/21561
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Banco de España
Madrid : Banco de España, 2022
publisher.none.fl_str_mv Banco de España
Madrid : Banco de España, 2022
dc.source.none.fl_str_mv reponame:Repositorio Institucional del Banco de España
instname:Banco de España
instname_str Banco de España
reponame_str Repositorio Institucional del Banco de España
collection Repositorio Institucional del Banco de España
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,300724

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