ESRB supports flexibility in EU legislation
The European Systemic Risk Board (ESRB) has called for EU member states and institutions to be permitted to use their "discretion" when framing future macro-prudential policy, in a letter published today (April 2).
Signed by ESRB chair, Mario Draghi, the letter is written to EU legislators and aims to "help" the legislators "address future threats to financial stability in the European Union".
The recommendations aim to "further develop a legal framework" for policy formation within the capital
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