IMPLEMENTING MACROPRUDENTIAL INSTRUMENTS IN CREDIT POLICY – CONDITIONS AND PERSPECTIVES

ABSTRACT

The credit policy, as a written document, is a basic document in which banks define the credit products, the characteristics, the conditions for placement, the price, and the risk appetite is reflected in it. Each bank defines and implements its own credit policy according to its strategy (growth in market share and/or growth in profitability). NBNM, in accordance with the macroprudential policy, defines macroeconomic measures for the quality of credit demand. Banks were obliged to implement macroprudential measures. The research is focused on the effects of the implementation of macroprudential measures in the banking industry, as well as the new operating conditions followed by challenges. The implications are across all segments, from the purpose of the credit product, the conditions of the credit applicants for obtaining loans, defining the ratio of indebtedness in relation to income, and acceptability of income of the credit applicants.

KEY WORDS: credit policy, macroprudential measures, banks