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 …

The recent financial crisis has highlighted the need to go beyond a purely micro approach to financial regulation and … financial regulation has grown considerably. The policy debate is focusing in particular on macroprudential tools and their …

The recent financial crisis has highlighted the need to go beyond a purely micro approach to financial regulation and … financial regulation has grown considerably. The policy debate is focusing in particular on macroprudential tools and their …

There is increasing recognition that prior to the global financial crisis financial regulation had lacked a … be their mandate? Third, how can governance arrangements ensure that macroprudential policies are pursued effectively …