European Union: Publication of Financial Sector Assessment Program Documentation—Technical Note on Macroprudential Oversight and the Role of the ESRB

International Monetary Fund

No 2013/070, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; EU financial system; EU institution; EU country; EU level; a number of EU credit institution; ESRB staff; stability concern; ESRB recommendation; EU credit institution; Systemic risk; Macroprudential policy; Financial sector stability; Macroprudential policy instruments; Systemic risk assessment; Europe (search for similar items in EconPapers)
Pages: 27
Date: 2013-03-15
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