Europe would benefit from more centralised macro-prudential tools, says ECB vice-president
Instruments to intervene in housing markets ‘should be widely available’, Constâncio says
Europe should consider giving the Single Supervisory Mechanism (SSM) macro-prudential powers to regulate the housing market, said European Central Bank (ECB) vice-president Vítor Constâncio today (November 4).
Macro-prudential measures aimed at housing markets have "worked well" in such countries as Ireland, South Korea, Turkey and the UK, Constâncio told an ECB Banking Supervision forum on banking supervision. These instruments are "not widely available, but should be", he said.
"Unfortunately"
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