Macroprudential policy in the dilemma “Financial stability – financial development”

Financial systems of all over the world had really faced with great shocks and disbalances in the past decade. Since the financial crisis of 2008, the health of the financial sector has become one of the hot topics in public debate and economic research regardless of the development level of the country. Financial intermediaries have suffered through a variety of things such as volatility in financial markets, utter failures, asset bubbles, etc. So regulatory and supervisory authorities revise a set of requirements to their providing capital adequacy, liquidity, effective risk management, activities of systemic financial intermediaries, financial groups and conglomerates. The main aim of this is to frame the policy response to these and other threats, prevent the new wave of a financial crisis, enhancing competitiveness and efficiency of the financial sector, providing well-designed financial supervision and regulation