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Systemic Risk and Macroprudential Policy in the Banking Sector

Author

Listed:
  • Imola Drigă

    (University of Petroşani, Romania)

Abstract

The purpose of this paper is to provide a perspective on the crucial importance of financial stability and the significant role of prudential regulations and banking supervision to ensure the solvency and viability of the banking system. The recent global financial crisis revealed certain week points in regulation concerning supervision and oversight of the financial system as a whole and showed that microprudential supervision could not prevent the increase of excessive risks in the financial system and did not have the means to stop the emergence of systemic risk and to mitigate its effects. It therefore became clear that a macroprudential dimension complementing micro-level supervision was necessary and financial regulators began to focus on preventing damage from systemic risk.

Suggested Citation

  • Imola Drigă, 2018. "Systemic Risk and Macroprudential Policy in the Banking Sector," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 18(2), pages 21-28.
    • Handle: RePEc:pet:annals:v:18:y:2018:i:2:p:21-28
    as

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    File URL: https://www.upet.ro/annals/economics/pdf/2018/p2/Driga.pdf
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    References listed on IDEAS

    as
    1. Daniel Gros & Sam Langfield & Marco Pagano & Dirk Schoenmaker, 2014. "Allocating macro-prudential powers," Report of the Advisory Scientific Committee 5, European Systemic Risk Board.
    2. Imola Drigă, 2017. "Financial Intermediation after the Financial Crisis," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 17(2), pages 43-50.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    systemic risk; financial stability; banking crises; contagion; macroprudential policy; prudential capital requirements;
    All these keywords.

    JEL classification:

    • 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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