regulation did not take the "big picture" of the system suffciently into account and, subsequently, financial supervision mainly … "missed the forest for the trees". As a result, the need for macroprudential aspects of regulation emerged, which has recently … macroprudential regulation in creating stable, yet effcient financial systems. At the same time, I emphasize the importance of …

. They might, unintendedly, actually imply a rise in systemic risk. Overall, however, our analyses suggest that financial …

policy response to the COVID-19 pandemic across 154 jurisdictions. It documents that authorities around the world have taken …

later conferred on the ECB by the Single Supervisory Mechanism (SSM) Regulation. The paper describes the ECB …’s macroprudential governance framework in the new institutional set-up. After reviewing the concept and origins of systemic risk, it … required new tools to be developed to measure systemic risk at financial institution, country and system-wide level. The paper …