ECB calls for reforms to macro-prudential framework
“Pecking order” for activating responses should go, ECB says
The European Central Bank called for a series of reforms to the European Union’s macro-prudential policies, including an end to the so-called “pecking order” for activating responses to financial stress.
“A comprehensive review” is needed, the ECB said in its latest macro-prudential review, published on April 30. The EU’s macro-prudential framework effectively began with the European Commission’s fourth Capital Requirements Regulation and Directive (CRR/CRD IV) which came into effect in January
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