European Union: Publication of Financial Sector Assessment Program Documentation—Technical Note on Macroprudential Oversight and the Role of the ESRB
March 15, 2013
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This article reviews the European Systematic Risk Board (ESRB), its role, approach, outputs, and effects in the European Union. The ESRB is the reason for macroprudential oversight of financial systems. Macroprudential policy is used to identify and reduce financial risks and limit financial imbalances. This policy is for both upturns and downturns of economic cycles. The role of the ESRB should be further enhanced to cover the entire financial system and institutions.
Subject: Financial sector policy and analysis, Financial sector stability, Macroprudential policy, Macroprudential policy instruments, Systemic risk, Systemic risk assessment
Keywords: a number of EU credit institution, CR, ESRB recommendation, ESRB staff, EU country, EU credit institution, EU financial system, EU institution, EU level, Europe, Financial sector stability, ISCR, Macroprudential policy, Macroprudential policy instruments, stability concern, Systemic risk, Systemic risk assessment
Pages:
27
Volume:
2013
DOI:
Issue:
070
Series:
Country Report No. 2013/070
Stock No:
1EUREA2013006
ISBN:
9781475591156
ISSN:
1934-7685
