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

Terms of reference

Terms of Reference of the Macro-prudential Measures Committee | pdf 421 KB

Records of meetings

The Central Bank may decide to omit information from the public record that is legally or commercially confidential, where it contains supervisory information, or where it is in the public interest to do so. This will be referenced in the published version of the minutes. There may be an occasion where a minute may be omitted but retrospectively published when the rationale for the initial omission no longer applies.

Macro-prudential Measures Committee Meeting 3 of 2020 | pdf 153 KB
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