Macroprudential Measures Committee

The Macro-prudential Measures Committee advises on the regular review of bank-related national macro-prudential measures and makes recommendations about revisions to these rules.

In recent times, several macro-prudential measures have been activated via the banking system. These include: borrower-based measures (BBMs) such as mortgage measures; the counter-cyclical capital buffer (CCyB); other systemically important institution (O-SII) buffer; and reciprocation of foreign macro-prudential policies. These matters fall within the MMC's advisory competency though, for some, the decision-making power lies with other Central Bank bodies.

The establishment of the committee was announced by Governor Lane on 2 August 2016.

Following the creation of the Financial Stability Directorate of the membership of the MMC has been updated to include the Director of Financial Stability.

The membership of the MMC is:

• Governor
• Deputy Governor (Monetary and Financial Stability)
• Deputy Governor (Financial Regulation)
• Director of Financial Stability
• Director of Economics and Statistics
• Director of Credit Institutions Supervision
• Secretary - Head of Macro-Financial Division

Terms of reference

Accounts of meetings

An account of the meetings of the MMC will be published, on the Central Bank website, taking into account any statutory or internal constraints around publication of discussions or decisions.

See also:

• COVID-19 (Coronavirus) Hub