The respective risk controls are assessed in a purely qualitative manner, and then combined with risk-level assessments that consist of a combination of quantitative anchor points and a holistic, judgement-based assessment.
In this respect, the macroprudential framework needs to evolve in three key aspects to effectively reach beyond the banking sector. First, we need to close remaining data gaps and to broaden the information-base of financial market activities. Without detailed information, macroprudential policy cannot be enforced. One of the challenges faced is to consolidate and aggregate data from various sources.