As always, my remarks are entirely my own and do not necessarily reflect the views of the Bank of Mexico or its Governing Board. The measurement challenge Macroprudential policies are at the forefront of current economic discussions. They encompass tools aimed at containing systemic risk and pursuing financial stability.
In general, systemic risk refers to the possibility that the financial system experiences significant disruptions which may impair the functioning of the economy. The scope is the system as a whole, as opposed to microprudential tools which are directed at fortifying individual financial institutions. Macroprudential instruments can be classified according to various criteria.