Published : 2021-10-18

Macroprudential Policy or Supervision?

Abstract

Stabilization of the financial system and counteracting economic crises are today among the most pressing challenges and public authority tests. Over the last couple of years it was possible to observe in various countries a process of institutionalizing a new ”macroprudential perspective” which, unlike previous solutions, covers the entire financial system. Simultaneously, a new conceptual network has emerged, which seems to ignore the existing terminological conventions. In particular, the term ”supervision” is used instead of ”policy”, or the two are sometimes used synonymously. This proposition applies to both EU and national law (e.g., in Poland) and the nomenclature used in the literature, where there is no in-depth, interdisciplinary analysis in this area or comparative surveys of the terms used. Therefore, the purpose of this paper is to systematize the most important terms used in the area of financial stability and to clarify their meaning by indicating the correct conceptual designations.

Keywords:

financial stability macroprudential policy financial supervision



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Ochwat, M. (2021). Macroprudential Policy or Supervision?. Safe Bank, 84(3), 43–64. https://doi.org/10.26354/bb.2.3.84.2021

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