ECB largely welcomes move to expand German macro-pru powers
ECB says measures giving BaFin greater powers are “appropriate”, but need better data
The European Central Bank has largely welcomed plans by Germany’s government to give macro-prudential powers over housing loans to the country’s Financial Supervision Authority, BaFin.
But the ECB said the government needed to make sure there was better data available on German lenders. Any regulation would have to be clearly expressed and simple to apply, it said in an official opinion dated January 8.
The regulation proposed by Germany’s finance ministry would make BaFin able to impose loan
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