To this end, Canada has developed a number of what we call “macroprudential policies.” These measures include new rules for mortgage borrowing, the so-called B-20 guideline, for example, which was implemented by the Office of the Superintendent of Financial Institutions.
If it were found to be valid, it would have implications for policymakers in a number of spheres, including monetary policy, prudential policy and even fiscal policy. Systemic risk: interconnections and spillovers Systemic risk is another theme of the conference, and again, a topic inspiring a great deal of academic research, some of which is being presented at this conference.