Policy Instruments To Lean Against The Wind In Latin America

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Author/Editor: Jorge A. Chan Lau, Carlos Fernandez Valdovinos, Mercedes Garcia-Escribano, Carlos I. Medeiros, Man-Keung Tang, G. Terrier, Camilo E Tovar Mora, Rodrigo O. Valdés, Mercedes Vera-Martin, W. Christopher Walker
Release Date: © July, 2011
ISBN : 978-1-45529-772-6
Stock #: WPIEA2011159
English
Stock Status: On back-order

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Description

This paper reviews policy tools that have been used and/or are available for policy makers in the region to lean against the wind and review relevant country experiences using them. The instruments examined include: (i) capital requirements, dynamic provisioning, and leverage ratios; (ii) liquidity requirements; (iii) debt-to-income ratios; (iv) loan-to-value ratios; (v) reserve requirements on bank liabilities (deposits and nondeposits); (vi) instruments to manage and limit systemic foreign exchange risk; and, finally, (vii) reserve requirements or taxes on capital inflows. Although the instruments analyzed are mainly microprudential in nature, appropriately calibrated over the financial cycle they may serve for macroprudential purposes.

Taxonomy

Economic policy , Fiscal policy , Foreign exchange , Monetary policy




More publications in this series: Working Papers


More publications by: Jorge A. Chan Lau ; Carlos Fernandez Valdovinos ; Mercedes Garcia-Escribano ; Carlos I. Medeiros ; Man-Keung Tang ; G. Terrier ; Camilo E Tovar Mora ; Rodrigo O. Valdés ; Mercedes Vera-Martin ; W. Christopher Walker