Macroprudential Instruments Used by Eastern European Countries

The recent financial crisis has highlighted the lack of analytical frameworks to help predict the global financial imbalances. The recent financial crisis has determined an increasing number of countries to use macroprudential instruments, in order to avoid systemic risks. According to the policy objective that wants to be achieved, country’s authorities have to choose among several instruments. Work on selecting and applying macroprudential instruments is a priority in the European Union, both at a national and at entire Union. In the case of Eastern Europe countries, the authorities adopted several measures to curb bank lending in foreign currency, subject that will be treated in the present paper.