Makroprudenzielle Politik

The aim of macroprudential policy is to oversee financial stability and to safeguard the stability of the financial system. Systemic risk arises if distressed financial institutions put the stability of the entire financial system at risk, thus impairing its functioning and the provisioning of services to the real economy, with negative implications for economic growth. Macroprudential policy aims at increasing the overall resilience of the financial system by monitoring the allocation of risk in the financial system and by preventing the build-up of excessive risks. In the aftermath of the crisis, new institutions were established and macroprudential instruments were created. Responsibility for macroprudential policy is located mostly at the national level. Due to its international dimension it is embedded into a network of international institutions