Constâncio wants to ‘broaden’ European macro-prudential toolkit
Says central banks should have powers to directly regulate real estate
European Central Bank (ECB) vice-president Vítor Constâncio wants to "broaden" the macro-prudential toolkit available to the ECB, as it is currently unable to address the credit cycle in the shadow banking sector.
He detailed a kind of macro-prudential ‘wish list' – something Deutsche Bundesbank vice-president Claudia Buch avoided yesterday – during his speech at the FT Banking Summit in London.
Recent regulatory and policy measures were targeted at the banking sector, Constâncio noted, but the
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