Issues involved in implementing macroprudential measures  As I mentioned earlier, macroprudential policy aims to ensure the stability of the financial system as a whole by analyzing and assessing risks within that system and formulating, based on the findings, institutional designs and policy responses to mitigate such risks, with particular attention paid to the interaction among the real economy, financial markets, and financial institutions.
In view of the experience of the global financial crisis, in addition to the  1  For details, see Òscar, Schularick, and Taylor (2011). BIS central bankers’ speeches  1  analysis and assessment of risks in the overall financial system, a macroprudential perspective has been actively adopted worldwide in institutional designs and policy responses.