A view shows the Federal Reserve building in Washington (REUTERS/Larry Downing).
The History of Cyclical Macroprudential Policy in the United States
May 15, 2013,
Since the financial crisis of 2007-2009, policymakers have debated the need
for a new toolkit of cyclical “macroprudential” policies to constrain the
build-up of risks in financial markets. Doug Elliott, Greg Feldberg and Andreas Lehnert offer the first comprehensive survey and historic narrative of these efforts, describing underwriting standards, reserve requirements, deposit rate ceilings, credit
growth limits, supervisory pressure, and other financial regulatory policy