2  See, for example, Arslanalp, S. and T. Tsuda (2014), “Tracking Global Demand for Emerging Market Sovereign Debt.” IMF Working Paper WP/14/39. 3  For a discussion of the concept of financial stability, see Tucker, P. (2011), “Macroprudential policy: building financial stability institutions.” Speech given at the 20th Annual Hyman P. Minsky Conference, April.
2  BIS central bankers’ speeches  regulatory actions, market interference in the wake of the big financial crisis has been invoked under the rubric of macroprudential policies. Some countries have opted for active FX intervention or direct management of capital flows.