02305cas a2200241 a 4500 AALejournalIMF020273 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498339162 2663-3493 BD-DhAAL BD-DhAAL International Monetary Fund. Macroprudential Policy : An Organizing Framework. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (59 pages) Policy Papers <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 Macroprudential policy is a complement to microprudential policy and it interacts with other types of public policy that have an impact on systemic financial stability. Indeed, prudential regulation, as carried out in the past, also had some macroprudential aspects, and the recent crisis has reinforced this focus; hence, a clear separation between 'micro' and 'macro' prudential, if useful conceptually, is difficult to delineate in practice. Moreover, no matter how different policy mandates are structured, financial stability tends to be a common responsibility, reflecting the far reaching consequences of financial crises. This calls for coordination across policies, to ensure that systemic risk is comprehensively addressed. Equally important, macroprudential policy is no substitute for sound policies more broadly, including, in particular, strong prudential regulation and supervision, and sound macroeconomic policies. Operational independence in other policy areas, including monetary and microprudential policy, should not be undermined in the name of macroprudential policy. Finally, given the global nature of the financial system, the multilateral aspects of macroprudential policy will need to be fully considered-an important aspect that is only touched upon in this paper. Mode of access: Internet Policy Papers; Policy Paper ; No. 2011/017 Full text available on IMF http://elibrary.imf.org/view/journals/007/2011/017/007.2011.issue-017-en.xml IMF e-Library