Regulatory Alerts2015-12-15
Added · Updated
Recommendation on the assessment of cross-border effects and voluntary reciprocity for macroprudential policy measures
Relevant authorities must assess the cross-border effects of their macroprudential policy measures prior to adoption and monitor these effects at least annually. Authorities are required to notify the European Systemic Risk Board of new measures within two weeks and submit reciprocation requests if necessary. Other authorities must reciprocate listed measures by implementing equivalent policies within three months of the recommendation's publication, unless a specific deadline applies. Reports on implementation actions or justified inaction must be submitted to the Board and the Council every two years, with the first report due by 30 June 2017.
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