Central Bank of Nigeria
Financial System Regulation, Micro-Prudential Policy, Micro-Prudential Regulations, Global Financial Crisis
The aftermath of the 2007 global financial crisis marked a turning point in financial system regulation, generating a "renewed" interest among global regulators in the use of macroprudential policy to promote financial system stability. In this regard, the article discussed some shortcomings of traditional regulation and promoted the need for a broader and systemic approach to financial system stability using both traditional (micro-prudential) and non-traditional (macroprudential) policies. The paper further discussed the elements of macroprudential policy and tools used to mitigate risks and vulnerabilities in the financial system. A summary of the article is presented in section II and comments are highlighted in section Ill.
CBN Economic and Financial Review
Bewaji, Phebian N. (2013). Protecting the Whole: A Review. CBN Economic and Financial Review. 51(1), 121-129.