Fortunately, this capacity has not been tested to date. 3. Current impediments to effective macroprudential action  The previous section has set out an “idealised” framework for the implementation of macroprudential policies.
In addition to the many legitimate questions that might be raised about the desirability of the suggestions made, there are a number of practical impediments to implementation of any sort of macroprudential framework. Forbearance can be an issue at the systemic as well as the institutional level.