By the Decision of the Board of the Central Bank of the Republic of Uzbekistan (CBU) dated February 18, 2023, the CBU Macroprudential Policy Framework was approved.

The CBU MPP Framework was developed to clearly define the CBU's macroprudential policy approach to ensuring the stability of Uzbekistan's financial system, identifying systemic risks, and taking effective mitigating measures.

The document was developed in line with the recommendations of international organizations, particularly the Basel Committee on Banking Supervision, the International Monetary Fund, and the Financial Stability Board. The experience of foreign central banks was also considered in the framework's development.

Macroprudential policy is understood as a set of measures aimed at limiting systemic risks and mitigating their negative consequences for the economy caused by the failure of all or some parts of the financial system.

In this context, the MPP framework represents the general concept of the CBU's implementation of a macroprudential policy aimed at ensuring the financial system's stability in Uzbekistan.

The MPP framework defines macroprudential policy, its main and intermediate objectives, instruments, as well as the principles and implementation stages. The document also provides an explanation (glossary) of the main concepts related to macroprudential policy.