Трансформація регуляторних ініціатив щодо трансмісії системного фінансового ризику

Abstract

У статті досліджено існуючі підходи до регулювання трансмісії системного фінансового ризику через різні канали. Надано пропозиції щодо розвитку механізму регулювання трансмісії системного фінансового ризику через кожний канал із зазначенням найбільш повного переліку можливих інструментів регулювання

Abstract. Introduction. Along with the identification of sources of systemic financial risk, the process of its transmission to other sectors of the economy is very important that causes the necessity of its regulation. Purpose of the article is to study the existing approaches to systemic financial risk regulation and to develop the mechanism of its regulation in the borders of different channels. Results. Regulation of systemic financial risk transmission through certain channel has some peculiarities. Particularly the most famous transmission channels are: credit, deposit, currency, infrastructure, informational, price and others. According to the possible channels of transmission the central bank and other regulators can use different instruments and tools which include macro prudential requirements, direct impact, precocious measures et al. Some of them have an immediate result, but some of them should be used on early stages of regulation or in the long term perspective. Conclusion. In spite of effectiveness of some instruments in the aspect of regulation of certain transmission channel, to immediately stop the systemic financial risk transmission the combination of different regulatory instruments and tools should be used.