Iceland: Financial Sector Assessment Program-Technical Note on Macroprudential Policy

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2023 Issue 279

Publication date: July 2023

ISBN: 9798400249457

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , Economics- Macroeconomics , Money and Monetary Policy , International - Economics , capital markets department , Macroprudential decision making , housing market Mispricing , house price misalignment , CBI share , Financial sector stability , Macroprudential policy , Systemic risk , Loans , Mortgages , Global , Baltics

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Summary

Macroprudential policy in Iceland recently has centered on the property market, given the importance of this market for households’ balance sheets, banks’ loan portfolios, and the potential systemic risks. The authorities have proactively used property-related macroprudential tools to safeguard the stability of the financial system and to ensure financial prudence among borrowers. The Central Bank of Iceland (CBI) is the authority, with the macroprudential policy mandate.