Macroprudential policy comprises measures, instruments and activities necessary to preserve the stability of the financial system as a whole by strengthening its resilience and avoiding and reducing systemic risks.
Identifying systemic risk means determining its nature (structural or cyclical), location (segment of the system in which it develops) and source (for example, whether it reflects more disruptions on the supply or demand side). In the light of that diagnostic, the toolbox is optimised and the intensity of the measure calibrated, which should most effectively cover the risk, reduce the regulatory risk of inaction and minimise potential negative spill-overs to other sectors as well as unexpected cross-border effects. The objectives and instruments of macroprudential policy are part of a broader economic policy toolbox for the full success of which the effective coordination carried out in the Republic of Croatia through the Financial Stability Council is important.
Macroprudential measures that serve to preserve financial stability consist of preventive measures, measures aimed at increasing the resilience of the banking system and other measures.