Systemic risk in focus – New directions of financial supervision at home and abroad
Stronger, more efficient control of the financial system can primarily be ensured by strengthening macro-prudential supervisory activities focusing on the risks of the financial system as a whole. This may be facilitated, first of all, by closer cooperation between central banks and supervisory authorities, as well as by broadening the powers and intervention opportunities of these authorities. The European Systemic Risk Board (ESRB) and the European System of Financial Supervisors (ESFS) are being established in the European Union in order to apply these principles in practice. Similarly to several other countries, Hungary is also planning to reform its supervisory system: according to the plans, both the central bank and the supervisory authority will have more powerful tools at their disposal, and a Financial Stability Council will be established to harmonise the activities of the national authorities more closely.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Erlend Nier, 2009. "Financial Stability Frameworks and the Role of Central Banks; Lessons From the Crisis," IMF Working Papers 09/70, International Monetary Fund.
When requesting a correction, please mention this item's handle: RePEc:mnb:bullet:v:4:y:2009:i:4:p:6-12. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Maja Bajcsy)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.