Regulatory Alerts2011-12-22
Added · Updated
Recommendation of the European Systemic Risk Board on the macro-prudential mandate of national authorities
Member States are recommended to establish national macro-prudential mandates by designating a specific authority, generally the central bank, to identify and mitigate systemic risks. This authority must be granted operational independence, clear powers to access data and instruments, and accountability to national parliaments. Member States must enact these measures in national legislation and submit interim reports by 30 June 2012 and final reports by 30 June 2013, with recommended measures in force by 1 July 2013.
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