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

Data on Central Bank Independence

This dataset provides information on a comprehensive index of CBI covering a wide range of central bank characteristics based on the charters of 154 central banks. The construction of the index uses, as a starting point, the two most commonly employed CBI indices, namely the Grilli et al. (1991) [GMT] and the Cukierman et al. (1992) [CWN]. This new index, called CBI – extended (CBIE) index, provides information on 42 criteria of central bank institutional design across six dimensions: (1) governor and central bank board, (2) monetary policy and conflict resolution, (3) objectives, (4) limitations on lending to the government, (5) financial independence and (6) reporting and disclosure.

Data Provider:  Davide Romelli
Level/Frequency:  Country-Level, Yearly
Geographic Coverage:  154 central banks
Time Range:  1972 – 2017 (regularly updated)
Availability: Free access online

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: since 1980, regularly updated
Availability: Free access online

ECB Legal Framework

Provides information on treaties, regulations, directives, decisions, and other legal statements governing the ECB’s conduct and policy.
Data Provider: ECB
Availability: Free access online

IMF integrated Macroprudential Policy (iMaPP) Database

The iMaPP has three advantages over other databases. First, it provides a comprehensive coverage in terms of instruments, countries, and time periods. It combines information from five existing databases, as well as the IMF’s new Annual Macroprudential Policy Survey, and various additional sources, such as authorities’ official announcements and IMF country documents. Second, the iMaPP database provides the average LTV limit prevailing in a given country at any given point in time, while most other databases only provide dummy-type policy action indicators. Third, the iMaPP database will be updated annually using information from the IMF’s annual survey.
Data Provider: International Monetary Fund
Level/Frequency: Country-level, Yearly
Geographic Coverage: 161 Countries
Time Range: 1990-2020
Availability: Free access online

FRAME online repository of the BIS

The Bank for International Settlements launched an interactive repository of studies dealing with the effects of financial regulations, called FRAME. The purpose of FRAME is to keep track of, organize, standardize and disseminate the latest findings. The repository covers numerous studies and quantitative impact estimates currently from 15 countries or group of countries, offering a novel and comprehensive perspective on what the research literature has been able to document to date, and where gaps exist.
Data Provider: Bank for International Settlements
Level/Frequency: ~Yearly
Geographic Coverage: currently 15 countries/groups of countries
Time Range: since 1991, regularly updated
Availability: Free access online

Progress Reports on Adoption of the Basel Regulatory Framework

This set of reports monitors the progress in adoption of the Basel requirements across jurisdictions. The latest update includes, among others, information on the adoption of the Basel III risk-based capital standards and the standards for systemically important banks (SIBs), the large exposures framework and disclosure requirements.
Data Provider: Bank for International Settlements
Level/Frequency: Semiannually
Geographic Coverage: currently 28 countries/groups of countries
Time Range: since 2011, regularly updated
Availability: Free access online

Domestic Implementation Documents on Basel II, Basel 2.5 and Basel III Adoption

This website provides relevant links to documents regulating the implementation of the Basel Agreements across jurisdictions. It includes information on Basel II, 2.5, and II adoption as well as material concerning G/D-SIB standards, liquidity standards, and leverage ratios.
Data Provider: Bank for International Settlements
Geographic Coverage: 28 countries/groups of countries
Time Range: since 2013, regularly updated
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:
Level/Frequency: Country-Level
Geographic Coverage: EU/EEA
Time Range: since 2002, regularly updated
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: since 1995, regularly updated
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: since 1984, regularly updated
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).

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.

The dataset on financial liberalization

The dataset is based on the earlier dataset of financial liberalisations by Abiad et al. (see above) merged with a more narrow dataset by Denk and Gomes (2017) and the recently updated IMF dataset on financial crises (Laeven and Valencia 2018).

It provided the 7 seven indices describing major areas of financial reforms: 5 indices for the domestic banking sector (credit controls, interest rate controls, entry barriers, privatisation, and supervision), the index on restrictions in international capital movements, and the index on asset markets (security market regulation).

Data Provider: Orkun Saka, Nauro F Campos, Paul De Grauwe, Yuemei Ji, Angelo Martelli
Geographic coverage: 94 countries
Time Range: 1973-2019, regularly updated
Availability: Contact Authors

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: 2000Q1 – 2018Q4
Availability: Free access online
Where has it been used?  Cerutti, E., R. Correa, E. Fiorentino and E. Segalla (2017). “Changes in Prudential Policy Instruments – A New Cross-Country Database,” International Journal of Central Banking, vol. 13(2), pages 477-503, March.

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, regularly updated
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.

The Bank Regulation and Supervision Survey (Worldbank)

The Bank Regulation and Supervision Survey is a unique source of comparable economy-level data on how banks are regulated and supervised around the world. The dataset gathers information from bank regulatory agencies around the world on regulations and supervisory practices pertaining to bank (1) entry/licensing, (2) ownership, (3) capital, (4) activities, (5) external auditing, (6) internal management or governance, (7) liquidity and diversification, (8) depositor protection, (9) provisioning, (10) disclosure and information, (11) dealing with problem institutions and exit from the industry, (12) supervisory powers, (13) banking sector characteristics, (14) consumer protection, and (15) Islamic banking.
Data Provider: World Bank
Level/Frequency: Country-Level
Geographic Coverage: World
Time Range: 2001, 2003, 2007, 2011, 2019
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. Anginer, Deniz; Bertay, Ata Can; Cull, Robert J.; Demirguc-Kunt, Asli; Mare, Davide Salvatore (2019) . Bank Regulation and Supervision Ten Years after the Global Financial Crisis. Policy Research working paper; no. WPS 9044

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 .

Effects of Macroprudential Policy

Uses 58 empirical studies to summarize the effects of macroprudential policy. It includes information on a broad range of instruments and various outcome variables, including e.g. balance sheet fragility, capital flows, credit, and economic activity. Data on significance and effect sizes is also available.
Data Providers: Juliana Dutra Araujo, Manasa Patnam, Adina Popescu,  Fabian Valencia, and Weijia Yao
Geographic Coverage:
Time Range:
Availability: Free access online

FSB Resolution Reform Index (RRI)

Contains the FSB’s Resolution Reform Index as well as its subindices. The RRI is a measure of progress of FSB jurisdictions on implementing various bank resolution reforms starting from the financial crisis 2008.
Data Provider: Financial Stability Board
Level/Frequency: Country-level, Yearly
Geographic Coverage: 24 Countries (FSB member jurisdictions)
Time Range: 2010-2019
Availability: Free access online

EBA: EU-wide transparency exercise

The European Banking Authority (EBA) released the findings of its EU-wide transparency test for 2021, which includes 120 banks across 25 EU and EEA countries. The data provides disclosure on banks’  assets and liabilities, capital positions, risk exposure amounts, leverage exposures and asset quality. The purpose of these tests is to foster transparency and market discipline in the EU financial market, and complement banks’ own Pillar 3 disclosures as required by the EU Capital Requirements Directive.
Data Provider: EBA
Level/Frequency:  Country-Level Data / Bank-Level Data
Geographic Coverage: EU and EEA
Time Range: 2011-2021
Availability: Free access online