The IMF has released a paper on key aspects of macroprudential policy. The paper examines interactions between macroprudential and other public policy areas; describes key steps in operationalizing macroprudential policy; and discusses issues to be considered when setting up the institutional framework underpinning macroprudential policy. The paper also examines multilateral aspects that can arise from a lack of action of national authorities, imperfectly aligned financial cycles and conflicts between home- and host authorities of cross-border institutions.