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Macroprudential committees in the EU – an analysis of institutional arrangements
Anna Dobrzańska
Abstract
Macroprudential committees constitute one of the possible institutional models used in conducting macroprudential policy. In the European Union they are as popular as another solution which consists of conferring macroprudential policy on a central bank. Nevertheless, as domestic financial safety net arrangements differ across countries, so do the macroprudential committees. The article presents an in-depth analysis of 12 macroprudential committees functioning in the EU countries. These committees are good examples of cooperation between financial safety net institutions aiming at ensuring stable and safe financial system. These institutions pool their resources, knowledge, expertise and experience from different areas which allows for better identification of threats to financial stability and appropriate reaction. The article identities both advantages and weaknesses of this institutional model.
Keywords:
macroprudential policy, macroprudential authority, macroprudential committee, financial safety net, financial stabilityMost read articles by the same author(s)
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