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№ 4/2016
FINANCIAL AND ECONOMIC REGULATION MISHCHENKO Volodymyr 1, BAUMAN Oleg 2 1Institute for Economics and Forecasting of the NAS of Ukraine The system of macroprudential regulation tools and their use in Ukraine The article investigates macroprudential regulation tools and their use in Ukraine. The macroprudential policy has been in the focus of scientific discussions for several years. The vast majority of debates come down to the fact that one cannot deny its effectiveness in ensuring stability of the financial system and preventing and minimizing systemic risk. The author analyzes the definition and classification of the tools recommended by international financial organizations and institutions with respect to their groups and the directions of action. As a result of the analysis, the author’s classification of the tools according to the nature and use of the appropriate direction of macroprudential policy is offered. It is proposed to focus on the use of regulatory tools as most effective from a practical point of view in the policy implementation. In addition, the author defines a set of the tools used in Ukraine and analyzes the degree of application and effectiveness of each of them. The research-based conclusions and proposals are aimed at facilitating the use of macroprudential policy tools, identified as part of Basel III, with an emphasis on the tools that the NBU regulatory arsenal already has. Keywords:stability of the financial system, regulatory capital, countercyclical buffer, macroprudential regulation, indicating tools, stress testing, systemic risk. JEL: E52, E58, E59. Mishchenko V. . The system of macroprudential regulation tools and their use in Ukraine / V. . Mishchenko, O. . Bauman // Наукові праці НДФІ. - 2016. - № 4. - C. 34-45.
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THE ACADEMY OF FINANCIAL MANAGEMENT |
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