In favour of macro-prudential regulation

In favour of macro-prudential regulation

andrew-haldane-bankofengland
Andrew Haldane

Out of crisis springs opportunity. Out of this crisis has sprung the opportunity to conduct a wholly new approach to financial regulation – so-called macro-prudential regulation. At warp speed, this regulatory edifice has gone from architect’s drawing board to builder’s construction site.

New systemic risk agencies are emerging across the globe – the Financial Stability Oversight Council in the US, the European Systemic Risk Board (ESRB) in Europe and the Financial Policy Committee (FPC) in the

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