ESRB issues macro-pru advice, as IMF warns over possible conflicts

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The European Systemic Risk Board (ESRB), the European body for macro-prudential policy, yesterday published a set of recommendations for macro-prudential policy in the EU, aimed at helping member states develop an appropriate toolbox to prevent or mitigate risks to the stability of the financial system.

The recommendations set out five ‘intermediate objectives' and possible instruments that could be used to achieve them. The objectives and recommended instruments are set out in the table below.

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