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Micro- versus Macro-Prudential Supervision: Potential Differences, Tensions and Complementarities

Author

Listed:
  • Boissay, Frédéric
  • Cappiello, Lorenzo

Abstract

This special feature discusses the potential differences, tensions and complementarities between micro- and macro-prudential policies. It argues (i) that in spite of the frictions that may arise between them, micro- and macro-prudential policies overall complement each other, and (ii) that the two policy domains play an equally important role in ensuring financial stability. To benefit most from their complementarities, it is essential that there is constructive cooperation and information sharing between micro- and macro-supervision. JEL Classification: G00

Suggested Citation

  • Boissay, Frédéric & Cappiello, Lorenzo, 2014. "Micro- versus Macro-Prudential Supervision: Potential Differences, Tensions and Complementarities," Financial Stability Review, European Central Bank, vol. 1.
    • Handle: RePEc:ecb:fsrart:2014:0001:3
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    File URL: https://www.ecb.europa.eu//pub/pdf/fsr/art/ecb.fsrart201405_03.en.pdf
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    Citations

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    Cited by:

    1. Benbouzid, Nadia & Kumar, Abhishek & Mallick, Sushanta K. & Sousa, Ricardo M. & Stojanovic, Aleksandar, 2022. "Bank credit risk and macro-prudential policies: Role of counter-cyclical capital buffer," Journal of Financial Stability, Elsevier, vol. 63(C).
    2. Darracq Pariès, Matthieu & Kok, Christoffer & Rancoita, Elena, 2019. "Macroprudential policy in a monetary union with cross-border banking," Working Paper Series 2260, European Central Bank.
    3. Uddin, Godwin, 2021. "Financial system regulation in a pandemic: Evidence from Nigeria," MPRA Paper 108052, University Library of Munich, Germany.
    4. Cassola, Nuno & Kok, Christoffer & Mongelli, Francesco Paolo, 2019. "The ECB after the crisis: existing synergies among monetary policy, macroprudential policies and banking supervision," Occasional Paper Series 237, European Central Bank.
    5. Uddin, Godwin, 2020. "Prudential guidelines and financial system stability in Nigeria," MPRA Paper 104964, University Library of Munich, Germany.
    6. Dzhagityan, E. & Alekseeva, M., 2024. "The effect of macroprudential policy on risks of U.S. bank holding companies," Journal of the New Economic Association, New Economic Association, vol. 63(2), pages 168-191.

    More about this item

    Keywords

    financial stability; friction; macro-prudential policies; micro-prudential policies; supervision;
    All these keywords.

    JEL classification:

    • G00 - Financial Economics - - General - - - General

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