Posted
|
July 12, 2011 02:48:46 AM |
Date
|
2011-07 |
Author
|
Gilbert Terrier, Rodrigo Valdés, Camilo E. Tovar, Jorge ChanLau, Carlos Fernández-Valdovinos, Mercedes GarcíaEscribano, Carlos Medeiros, Man-Keung Tang, Mercedes Vera Martin, and Chris Walker |
Affiliation
|
WHD, IMF |
Title
|
Policy Instruments To Lean Against The Wind In Latin America |
Summary / Abstract
|
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. |
Keywords
|
Capital Requirements, Dynamic Provisions, Leverage Ratios, Liquidity Requirements, Debt-to-Income Ratios, Loan-to-Value Ratios, Reserve Requirements, Foreign Exchange Credit Risk, Foreign Exchange Positions, Taxes on Capital Inflows |
URL
|
http://www.imf.org/external/pubs/ft/wp/2011/wp11159.pdf
|
See
|
More articles ...
|
|