ESRB handbook calls on macro-prudential regulators to overcome ‘inaction bias'

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Europe's macro-prudential regulators need to overcome their "inaction bias" by relying more on concrete indicators providing the impetus for necessary but unpopular measures ensuring financial stability, according to a policy ‘handbook' published yesterday by the European Systemic Risk Board (ESRB).

The 240-page tome, which offers guidance to European Union (EU) regulators on how to design and implement macro-prudential tools in light of a new regulatory framework, the Capital Requirements Direc

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