Bank veterans identify challenges to macroprudential policy


Despite recent efforts to reform policy in the area of financial stability, there continues to be no clear consensus on the tools and precise targets for macroprudential policy, according to a paper released jointly by the Bank of England and the Group of 30 on Friday.

The paper's authors, Andrew Large, a former deputy governor of the Bank of England, and Alastair Clark, an external member on the Bank's interim Financial Policy Committee (FPC), identify and discuss a number of contentious issues

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