,
4 tweets,
1 min read
Read on Twitter
Speech Vítor Constâncio: Financial stability risks and macroprudential policy in the euro area ecb.europa.eu/press/key/date…
Constâncio: Monetary policy should not respond to financial stability concerns. The justifying argument for this stance is that macroprudential policy is now available and is the most effective tool for safeguarding financial stability.
Constâncio: Apart from a few pockets of vulnerability, the overall financial stability picture in the euro area reveals no signs of generalised asset market bubbles. 
Constâncio: The European legal macroprudential policy framework needs to be enhanced by introducing new instruments, including for non-banks, and by allowing Member States and the ECB more flexibility to activate those instruments.
