01951cas a2200241 a 4500 AALejournalIMF018046 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484327050 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Monetary and Capital Markets Department. Spain : Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight Framework and Macroprudential Policy. Washington, D.C. : International Monetary Fund, 2017. 1 online resource (45 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for Spain in the areas of systemic risk oversight framework and macroprudential policy. Macroprudential oversight for banking is a shared responsibility between Banco de Espana (BdE) and the European Central Bank. The macroprudential policy stance appears broadly appropriate. BdE has put in place a framework for calibrating capital buffers. The countercyclical capital buffer is currently at zero given that a new financial cycle upturn has not started and a still-negative credit gap and weakly recovering housing prices. The existing macroprudential toolkit would benefit from expansion, particularly to include more effective tools to deal with risks associated with real estate exposures. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2017/336 Full text available on IMF http://elibrary.imf.org/view/journals/002/2017/336/002.2017.issue-336-en.xml IMF e-Library