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ESRB publishes its strategy paper on macroprudential policy beyond banking

The European Systemic Risk Board (ESRB) has today published a strategy paper entitled “Macroprudential policy beyond banking: an ESRB strategy paper”.

While macroprudential policy for the banking sector is already operational, the policy strategy, regulatory data and instruments required to address risks beyond the banking sector need further enhancement.

Against this background, the strategy paper analyses the current legal and institutional framework governing macroprudential policies beyond banking and proposes a comprehensive policy strategy to address financial stability risks.

The strategy paper presents short-term policy options and a long-term agenda for macroprudential policy beyond banking. In doing so, it complements the Flagship Report and Handbook on the application of macroprudential policy in the banking sector, published in 2014.

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