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What is Mitigating Financial System Procyclicality about?

This document discusses the inherent pro-cyclical nature of banking and financial systems and examines whether a less pro-cyclical system is achievable. It notes that bank profitability, asset prices, and risk measures tend to rise during economic upturns and fall during downturns, exacerbating cycles. It analyzes how measures introduced in recent decades to assess capital adequacy and liquidity using market values and risk models have unwittingly increased pro-cyclicality by being overly reliant on recent

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