ESRB sets out first steps towards common macro-prudential stance
Problems exist with turning conceptual framework into operational tool, report concedes
The European Systemic Risk Board has outlined how the European Union’s regulatory authorities could take the first steps towards a common macro-prudential framework.
Mario Draghi said in his introduction that the ESRB report, issued on April 8, reflected the initial results of the discussions by an expert group specifically set up by its “instruments working group”. He said discussions among regulators had “repeatedly highlighted the need to develop a conceptual framework to guide the
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