Macroprudential policy in Europe: building resilience in a challenging environment
· Christine Lagarde, President of the European Central Bank (Euro area (EU))
Summary written by Dark Majestic in its own words · topics: financial stability, banking regulation and supervision, development and emerging economies
CL · Christine Lagarde Wiki · European Central Bank WikiMacroprudential policy in Europe: building resilience in a challenging environmentContextWelcome remarks by Christine Lagarde, also Chair of the European Systemic Risk Board, at the sixth annual ESRB conference.
Why it mattersLagarde argues that macroprudential buffers should stay in place as risks rise.
Problems raised- Europe lives through a 'permacrisis' of successive shocks.
- The unstable environment creates risks for financial stability.
- A weakening outlook leaves no room for complacency.
Solutions proposed- Keep macroprudential buffers to preserve resilience.
- Build on banks' strong starting capital positions.
- Use the ESRB to identify emerging systemic risks.
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