Abstract
Until recently the debate on systemic risk was reduced to examining sudden exogenous shocks. Today the reference literature emphasizes that systemic shocks may have a source in domestic or international environment, as a consequence of procyclicality in the behavior of financial institutions or their mutual correlation. In line with that, one may examine the cross-sectional and time dimension of the systemic risk. The modeling of macroprudential policy regulating and supervising systemic risks has been underway, and it is necessary to continuously improve the quality of analyses and availability of data, especially the indicators warning against the occurrence and accumulation of systemic risks. The process of shaping the new financial architecture, commenced in 2009, has still not been completed, but its contours are already pretty clear.
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