Canada : Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policy.

This Technical Note provides a summary of the review of systemic risk oversight arrangements and macroprudential policy issues in Canada. The paper discusses the existing systemic risk oversight arrangements and potential challenges, and then presents steps that can be taken to modernize the framewo...

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Співавтор: International Monetary Fund. Monetary and Capital Markets Department
Формат: Журнал
Мова:English
Опубліковано: Washington, D.C. : International Monetary Fund, 2020.
Серія:IMF Staff Country Reports; Country Report ; No. 2020/019
Онлайн доступ:Full text available on IMF
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520 3 |a This Technical Note provides a summary of the review of systemic risk oversight arrangements and macroprudential policy issues in Canada. The paper discusses the existing systemic risk oversight arrangements and potential challenges, and then presents steps that can be taken to modernize the framework to ensure its effectiveness going forward. The paper focuses on systemic risk surveillance, including the current approaches and existing challenges such as data gaps and coordination. It also covers macroprudential policy issues, including the toolkit, the current policy stance and overall policy effectiveness. The review recommends that steps can be taken to improve the current system with a more formalized arrangement for systemic risk oversight. A single body in charge of systemic risk oversight would be the first-best option. Over time, the authorities should review whether systemic risk oversight under the Heads of Agencies Committee leadership with no statutory mandate is adequate. Macroprudential policy at the federal level has been effective; however, better coordination is essential given multiple provincial authorities' ownership of prudential tools. 
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830 0 |a IMF Staff Country Reports; Country Report ;  |v No. 2020/019 
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