ECB backs EC plan to consolidate macro-prudential policy
Central bank says it should be handed new and clearer powers
The European Central Bank has backed plans to overhaul the European macro-prudential framework, making a pitch for new and clearer powers.
The European Commission launched a consultation in August, noting the European Union's approach to macro-prudential policy had evolved in a piecemeal fashion, with some powers standardised at the union level but many others defined and used at the discretion of national supervisors.
In its consultation response today (December 12), the ECB agreed an overhaul
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