April 9, 2018

Banking Supervision and Regulation

The recent financial crisis has led researchers and policy makers to rethink the role of banking supervision and regulation in a context of highly interconnected and globally active banks. There are several data initiatives attempting to provide an overview of banking supervision and regulation across countries. Usually this sort of data consists of surveys conducted by international organizations like the World Bank and the IMF where local authorities are asked to describe some of the main features of regulatory frameworks in banking.
Links to data sources

 

ECB Macroprudential Database (MPDB)

The Macroprudential Database (MPDB) is a comprehensive and harmonised dataset of indicators covering various sub-categories of indicators judged relevant for macroprudential analysis. The database focuses on the indicators that can be used to explain and predict financial crisis episodes. The indicators were selected based on institutions’ experience of using time series for macroprudential analyses, information about indicators used in macroprudential tools and relevant academic literature. They include indicators selected for the ESRB’s quantitative risk analysis tools, such as the ESRB Risk Dashboard, and the indicators used to monitor developments in national banking markets. The indicators in the database are grouped into seven categories, each of which include various sub-categories, according to the below structure (see overview tab).
The list of indicators, together with the underlying SDW codes and indicator calculations, can be accessed in the MPDB catalogue. The catalogue may also include references to time series that cannot be shown in the SDW but are available from other data sources.
Data Provider: European Central Bank
Level/Frequency: Yearly
Geographic Coverage: EU Member States
Time Range: 1980 – 2018
Availability: Free access online

 

ESRB: Overview of Macroprudential Measures in the EU/EEA

These macroprudential measures include those taken under Articles 124 and 164 of the Capital Requirements Regulation (CRR) to target systemic risks in the real estate sector, and macroprudential measures that are not harmonised by Union law. Prominent examples include caps to loan-to-value ratios, debt-to-income ratios and debt-service-to-income ratios.
Data Provider:
ESRB
Level/Frequency: Country-Level
Geographic Coverage: EU/EEA
Time Range: 2002-2018
Availability: Free access online

 

IMF 2017 Macroprudential Policy Survey

As use of macroprudential policy tools is growing, the IMF has initiated an annual survey on macroprudential policy with its membership. The resulting new database provides information on policy measures taken by IMF member countries as well as on the institutional arrangements in place to support macroprudential policy.
Data Provider: International Monetary Fund
Level/Frequency: Yearly
Geographic Coverage: 141 countries
Time Range: 2016-2017
Availability: Free access online

 

MacroPrudential Policies Evaluation Database (MaPPED)

The Macroprudential Policies Evaluation Database (MaPPED) provides details of macroprudential (or similar) policy actions taken in the European Union since 1995, it offers a detailed overview of the “life -cycle” of policy instruments which are either genuinely macroprudential or are essentially microprudential but likely to have a significant impact on the whole banking system. MaPPED has been created to support the empirical assessment of the impact of macroprudential policies.
Data Provider: European Central Bank
Level/Frequency: Yearly
Geographic Coverage: EU Member States
Time Range: 1995 – 2018
Availability: Free access online


District-Level Banking Data

FRED offers two new datasets on banks supervised by the Federal Reserve Districts: total assets and number of banks. These data differ from the typical, historical data by classifying banks according to the District that has supervisory responsibility for it, rather than using the location of the bank’s headquarters.
Data Provider: Federal Reserve Economic Data (FRED)
Level/Frequency: District-Level
Geographic Coverage: FRB-New York District
Time Range: Q1 1984 – Q2 2017
Availability: Free access online
Where has it been used? Meyer, Andrew (2017). Another Way to Compare Banking Conditions in the U.S., The Regional Economist, Third Quarter 2017, Vol. 25, No. 3, Page 2 (Online Extra).

 

National measures of macroprudential interest in the EU/EEA

Data Provider: ESRB
Level/Frequency: Country-Level
Geographic Coverage: EU/EEA
Time Range: 2014 – 2017
Availability: Free access online
Where has it been used? ESRB – A Review of Macroprudential Policy in the EU in 2016

 

Measuring resilience to financial instability: A new dataset

The data set reports, for 46 economies around the globe, an index of the capacity to deploy macroprudential policies. The index aims to represent the essence of what constitutes a macroprudential regime is developed.
Data Provider: Domenico Lombardi and Pierre Siklos
Level/Frequency: Country-Level
Geographic Coverage: 46 countries
Time Range: mid-2014 – early 2015
Availability: Free access online (CC BY 4.0)
Where has it been used? Lombardi, Domenico and Pierre Siklos (2016). Measuring resilience to financial instability: A new dataset, Journal of Financial Stability, Volume 27, December 2016, Pages 35-49.

 

A new Database of Financial Reforms

Lists indices of financial liberation along seven dimensions, including: credit controls and reserve requirements, interest rate controls, entry barriers, state ownership, policies on securities markets, banking regulations and restriction on the financial account. Grades are assigned to each dimension and combined to a normalized score ranging between zero and one, where a higher value corresponds to a higher degree of financial liberalization. Therefore the panel enables the researcher to monitor the development of financial reforms in direction and magnitude across 91 economies.
Data Provider: Abiad, Abdul; Detragiache, Enrica; Tressel, Thierry – IMF (Description)
Level/Frequency: Country-Level / Yearly
Geographic Coverage: 91 countries
Time Range: 1973 – 2005
Availability: Free access online
Where has it been used? Houston, J.F., Lin, C., Ma, Y. (2012). Regulatory Arbitrage and International Bank Flows, The Journal of Finance 67 (5), 1845–1895.

 

Capital Control Measures: A New Dataset

A new dataset of capital control restrictions on both inflows and outflows of ten categories of assets for 100 countries over the period 1995 to 2013 expanding the work of Martin Schindler (2009). A total of 32 disaggregated transaction control categories.
binary variables indicating presence of restriction. The data is partially extracted from the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER).
Data Provider: Andrés Fernández, Michael W. Klein, Alessandro Rebucci, Martin Schindler, Martín Uribe
Level/Frequency: Country-Level / Yearly
Geographic Coverage: 100 countries
Time Range: 1995 – 2013
Availability: Free access online

 

Cross-country Database for Reserve Requirements

The database originally collected for this paper is part of a World Bank regional study on macroprudential policy carried out by the Office of the Chief Economist for Latin America. We focus on legal (as opposed to actual) reserve requirements because legal reserve requirements are a policy instrument whereas actual reserve requirements constitute an endogenous outcome affected by non-policy factors.
Data Provider: The World Bank (Description)
Level/Frequency: Country-Level
Geographic Coverage: 65 countries worldwide
Time Range: 1970Q1 – 2015Q4
Availability: Free access online (CC BY 3.0)
Where has it been used? Tito, C., P. Federico, C. Vegh and G. Vuletin (2014). Reserve Requirements in the Brave New Macroprudential World. A World Bank Study.

 

Data on Prudential Instruments

A new database that focuses on changes in the intensity in the usage of several widely used prudential tools, taking into account both macro-prudential and micro-prudential objectives. The five types of prudential instruments in the database are: capital buffers, interbank exposure limits, concentration limits, loan to value (LTV) ratio limits, and reserve requirements. A total of nine prudential tools are constructed since some useful further decompositions are presented, with capital buffers divided into four subindices: general capital requirements, real state credit specific capital buffers, consumer credit specific capital buffers, and other specific capital buffers; and with reserve requirements divided into two sub-indices: domestic currency capital requirements and foreign currency capital requirements.
Level/Frequency: Country-Level / Quarterly
Geographic Coverage: 64 countries
Time Range: 2001Q1 – 2014Q4
Availability: Restricted access online
Where has it been used?  Cerutti, E., R Correa, E. Fiorentino and E. Segalla (2016). Changes in Prudential Policy Instruments — A New Cross-Country Database.

 

Database for Policy Actions on Housing Markets

A new database for policy actions on housing markets. It enables policymakers and researchers to review what types of policy action were taken in other economies and to assess their effectiveness.
Data Provider: Bank for International Settlements
Level/Frequency: Country-Level
Geographic Coverage: 60 countries worldwide
Time Range: January 1990 (or earliest date available)  – June 2012
Availability: Free access online
Where has it been used?  Akinci, O., and J. Olmstead-Rumsey (2015). How effective are macroprudential policies? An empirical investigation. International Finance Discussion Papers 1136.

 

Historical Index of Economic Liberty (HIEL)

Regulation, in particular credit market regulation, represents a dimension of economic freedom. For this reason an index, consistent over space and time, is computed on the basis of different indicators.
Data Provider: Espacio Investiga
Level/Frequency: Country-Level
Geographic Coverage: OECD countries
Time Range: 1850-2007
Availability: Free access online
Where has it been used?  De La Escosura, L.P. (2014). Economic freedom in the long run: Evidences from OECD countries (1850-2007).

 

Implementation Monitoring (Financial Stability Board)

The FSB, through the Standing Committee on Standards Implementation (SCSI), coordinates and oversees the monitoring of the implementation of agreed financial reforms and its reporting to the G20.
Data Provider: Financial Stability Board (FSB)
Level/Frequency: Country-Level
Geographic Coverage: G20 countries
Time Range: since October 2011
Availability: Free access online
Where has it been used? Financial Stability Board (2017). Proposed Framework for Post – Implementation Evaluation of the Effects of the G20 Financial Regulatory Reforms. Consultation document on main elements.

 

Supervision and Regulation (Worldbank)

It is based on a survey that is carried out by the World Bank and provides data for 143 jurisdictions on regulation and supervision of banks around the world. The data is available for the years 2001, 2003, 2007, 2011.
Data Provider: World Bank
Level/Frequency: Country-Level
Geographic Coverage: World
Time Range: 2001, 2003, 2007, 2011
Availability: Free access online
Where has it been used? Barth, J. R., G. Caprio Jr., and R. Levine (2001). The regulation and supervision of banks around the world – a new database. Policy Research Working Paper 2588.

 

The Use and Effectiveness of Macroprudential Policies: New Evidence

Using a recent IMF survey and expanding on previous studies, the authors document the use of macroprudential policies for 119 countries over the 2000-13 period, covering many instruments.
Data Provider: IMF
Level/Frequency: Country-Level
Geographic Coverage: World
Time Range: 2000-2013
Availability: Free access online
Where has it been used? Cerutti, E., S. Claessens, and L. Laeven (2015). The Use and Effectiveness of Macroprudential Policies: New Evidence .