ECB’s Tumpel-Gugerell outlines challenges for ESRB
The newly founded European Systemic Risk Board (ESRB) must overcome several institutional factors if it is to effectively regulate systemic risk in the eurozone, Gertrude Tumpel-Gugerell, a member of the European Central Bank's (ECB) executive board, said on Monday.
Speaking at a conference in Frankfurt, Tumpel-Gugerell said: "Traditional banking regulation was designed to limit each individual institution's risk seen in isolation. It did not sufficiently focus on systemic risk, put simply, the
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