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The Macroprudential Policy- Challenges and Perspectives at the European Level

Author

Listed:
  • Nucu Anca Elena

    („Alexandru Ioan Cuza” University of Iasi Faculty of Economics and Business Administration)

  • Roman Angela

    („Alexandru Ioan Cuza” University of Iasi Faculty of Economics and Business Administration)

Abstract

The global financial and economic crisis has revealed that the missing pillar of financial stability architecture was the macroprudential approach of the financial supervision and designing of the prudential policy is considered one of the key elements of the post-crisis reforms. The micro-and macro-prudential regulation framework is currently going through a sustained process of revision, both at EU level and at national level. With the new financial supervisory architecture, due to the recent crisis, the area of macro-prudential instruments became much wider. The purpose of our article is to highlight the challenges and perspectives respectively, regarding the implementation of the macroprudential regulatory tools at European level, with reference to the national level.

Suggested Citation

  • Nucu Anca Elena & Roman Angela, 2014. "The Macroprudential Policy- Challenges and Perspectives at the European Level," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 151-156, May.
    • Handle: RePEc:ovi:oviste:v:xiv:y:2014:i:1:p:151-156
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    More about this item

    Keywords

    macroprudential policy; financial stability; Basel III; financial crisis;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G01 - Financial Economics - - General - - - Financial Crises

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