ECB has made ‘little use of macro-pru powers’, senior official says
Eurozone authorities lack powers to deal with diffuse sovereign risk or shadow banks – ECB official
One of the European Central Bank’s senior supervisors has warned that eurozone authorities lack many of the powers needed to deal with re-emerging financial risks.
European authorities also lacked powers to deal with emerging risks, Ignazio Angeloni told an audience in London on December 10. “As a result, the macro-prudential response of the euro area in the current economic upswing has been, so far, insufficient,” he said.
Angeloni said the ECB has “made little use of its macro-prudential
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