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This paper presents case studies of macroprudential policy in five jurisdictions (Hong Kong SAR, the Netherlands, New Zealand, Singapore, and Sweden). The case studies describe the institutional framework, its evolution, the use of macroprudential tools, and the circumstances under which the tools have been used. The paper shows how macroprudential policy is conducted under a heterogeneous set of institutional frameworks. In all cases macroprudential tools have been used to address risks in the housing market. In addition, some of them have moved to enhance the resilience of their banks to more general cyclical and structural risks.

Financial crises -- Government policy -- Case studies. --- Financial crises -- Prevention -- Case studies. --- Financial risk management -- Case studies. --- Mortgages -- Case studies. --- Banks and Banking --- Macroeconomics --- Real Estate --- Industries: Financial Services --- Infrastructure --- Financial Institutions and Services: Government Policy and Regulation --- Financial Markets and the Macroeconomy --- Central Banks and Their Policies --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Housing Supply and Markets --- Economic Development: Urban, Rural, Regional, and Transportation Analysis --- Housing --- Finance --- Property & real estate --- Banking --- Housing prices --- Loans --- Macroprudential policy --- Financial institutions --- Prices --- Financial sector policy and analysis --- National accounts --- Economic policy --- Banks and banking --- Saving and investment --- Hong Kong Special Administrative Region, People's Republic of China

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This paper examines the relationship between the quality of banking supervision and governance of the supervisory agency, based on assessments of the Basel Core Principles and the IMF Code on Transparency in Financial Policies, covering 116 and 53 countries, respectively, with 51 common to both. We find a positive correlation between the transparency of the supervisor and the effectiveness of banking supervision; moreover, better accountability and integrity practices of the banking supervisors are associated with higher independence, which in turn is associated with better compliance with the Basel Core Principles. These results are largely robust to different stages of financial development.

Banks and banking -- State supervision. --- Banks and banking, Central. --- Corporate governance. --- Banks and Banking --- Finance: General --- Macroeconomics --- Financial Institutions and Services: Government Policy and Regulation --- General Financial Markets: Government Policy and Regulation --- Financial Markets and the Macroeconomy --- Personal Income, Wealth, and Their Distributions --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial services law & regulation --- Finance --- Banking --- Bank supervision --- Basel Core Principles --- Financial sector development --- Personal income --- Banks and banking --- State supervision --- Financial services industry --- Income --- State supervision.