The European Central Bank has published a framework for “best practice” in assessing how eurozone countries’ macro-prudential policies have cross-border spillovers.

The ECB says the framework was intended to be used by national regulators. Authorities can use it as a basis for analysing how effective policies have been, the document suggests. They can also use it as a starting point when assessing whether macro-prudential measures should be made reciprocal between two countries.

The framework