ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book examines the importance of financial stability and the geopolitical concept of the “turbulent frontier” applied to macroprudential policy. It focuses on the quantitative macroprudential tools restricting mortgages for housing, their use in Asia in the 1990s. The book discusses US mortgage conduct of business regulatory policy since the financial crisis and its vulnerability both to reliance on the provision of information to borrowers and the weakness in regulatory policy governing mortgage intermediaries, and contrasts this with the approach taken in the UK. It considers UK conduct of business and mortgage regulation including its path dependency and also the effect of work on behavioural economics and increased regulatory paternalism in the development of regulatory policy. The book also examines some of the societal effects of mortgage affordability assessment regulation.
