Ben S Bernanke: Policy coordination among central banks Speech by Mr Ben S Bernanke, Chairman of the Board of Governors of the US Federal Reserve System, at the Fifth ECB Central Banking Conference “The Euro at Ten: Lessons and Challenges”, Frankfurt am Main, 14 November 2008.
The institutional set-up for the implementation of macroprudential policy often includes more than one institution. This brings more expertise and different views to the table, which ensures sound decision making. But the decision-making process may also be lengthened. This important issue has been highlighted in today’s presentation by Nellie Liang.