Macroprudential regulation latest publications
The meeting of the Political Bureau of the Communist Party of China Central Committee presided by President Xi concluded on December 11, 2020, emphasizing the recent economic policy focus and pointing the direction of the next year’s policy stance.
November 18, 2020
US | Nonbank financial intermediation, financial sector stability, and policy implications
Nonbank financial intermediation represents a large share of the U.S. financial sector. In times of crisis, it has been supported by the primary banking regulator - the Federal Reserve. In the absence of changes in oversight, this could lead to increased moral hazard and financial instability over the long run.
April 28, 2020
The impact of COVID-19 on China's Balance of Payments and foreign reserves: An update
COVID-19 tends to expand current account surplus while increase capital inflows under capital and financial account. Altogether its impact on China's Balance of Payments is limited.
Chinese economic growth has slightly recovered in the last quarter of 2019, although it continued its medium-to-long-term slowdown trend amid unsettled trade war and domestic structural obstacles. The 2019 whole year GDP growth reached 6.1%, the lowest growth rate for the past three decades.
Following the crisis, the financial system was extensively reformed to strengthen microprudential regulation, focused on individual entities, and macroprudential regulation, to prevent the accumulation of imbalances in the whole system that may affect the real economy.