Closing ranks between prevention and management of systemic crises: A proposal to couple the ESRB with the ESM

Sebastian Thomasius

No 2018/14, Discussion Papers from Free University Berlin, School of Business & Economics

Abstract: On the occasion of related proposals by the European Commission and the Eurogroup, this paper proposes to entrust the ESM with the hosting of the ESRB in the medium term. The novel proposal aims at strengthening the macro-prudential expertise of the ESM and at enhancing the independence of the ESRB. Following a brief summary of related proposals, the main rationales and the key elements of the proposal are presented in detail.

Keywords: financial stability; macroprudential policy and supervision; financial crisis prevention and resolution; conflict of interest; euro area (search for similar items in EconPapers)
JEL-codes: E44 E58 G28 H11 (search for similar items in EconPapers)
Date: 2018
New Economics Papers: this item is included in nep-eec and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:fubsbe:201814

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