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Using the ECB macroprudential stress testing framework for policy assessment – lessons learned from the COVID-19 pandemic

Author

Listed:
  • Budnik, Katarzyna
  • Dimitrov, Ivan
  • Groß, Johannes
  • Caccia, Andrea

Abstract

Macroprudential stress testing has provided timely policy assessment to tackle high levels of uncertainty about future developments during the COVID-19 pandemic and to back communications promoting the use of macroprudential capital buffers by banks. The lessons learned from the crisis can inform the setting of buffers along the path to policy normalisation. JEL Classification: E58, G01, G21, G28

Suggested Citation

  • Budnik, Katarzyna & Dimitrov, Ivan & Groß, Johannes & Caccia, Andrea, 2022. "Using the ECB macroprudential stress testing framework for policy assessment – lessons learned from the COVID-19 pandemic," Macroprudential Bulletin, European Central Bank, vol. 17.
    • Handle: RePEc:ecb:ecbmbu:2022:0017:3
    Note: 1355359
    as

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    File URL: https://www.ecb.europa.eu//press/financial-stability-publications/macroprudential-bulletin/html/ecb.mpbu202206_3~37629fc857.en.html
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    Citations

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    Cited by:

    1. Hałaj, Grzegorz & Martinez-Jaramillo, Serafin & Battiston, Stefano, 2024. "Financial stability through the lens of complex systems," Journal of Financial Stability, Elsevier, vol. 71(C).

    More about this item

    Keywords

    banking sector; capital buffers; COVID-19; impact assessment; macroprudential policy; macroprudential stress testing; resilience;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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