Micro- versus Macro-Prudential Supervision: Potential Differences, Tensions and Complementarities

Frédéric Boissay and Lorenzo Cappiello

Financial Stability Review, 2014, vol. 1

Abstract: This special feature discusses the potential differences, tensions and complementarities between micro- and macro-prudential policies. It argues (i) that in spite of the frictions that may arise between them, micro- and macro-prudential policies overall complement each other, and (ii) that the two policy domains play an equally important role in ensuring financial stability. To benefit most from their complementarities, it is essential that there is constructive cooperation and information sharing between micro- and macro-supervision. JEL Classification: G00

Keywords: financial stability; friction; macro-prudential policies; micro-prudential policies; supervision (search for similar items in EconPapers)
Date: 2014-05
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:fsrart:2014:0001:3

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