The ESRB’s first general warning one year on
· 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
CL · Christine Lagarde Wiki · European Central Bank WikiThe ESRB’s first general warning one year onContextWelcome remarks by Christine Lagarde, also Chair of the European Systemic Risk Board, at the seventh annual ESRB conference.
Why it mattersLagarde reviews vulnerabilities a year after the first general warning on systemic risks.
Problems raised- Risks can appear from many angles in a complex financial system.
- National authorities may miss risks from an interconnected system.
- Financial vulnerabilities persist one year after the ESRB's warning.
Solutions proposed- Use the ESRB to identify and signal systemic risks early.
- Keep macroprudential buffers in place.
- Strengthen resilience of non-bank financial intermediaries.
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