Some instruments were given to the ECB in the SSM regulation – a limited set. I would like to have more instruments of that nature. 4  BIS central bankers’ speeches  For example? In the UK, the government recently gave to the Bank of England the instrument of loan-tovalue- and debt-to-income-ratios, especially to prevent bubbles in the housing and real estate market.
In the US, the Fed can declare non-banks systematically important and then have the supervision over them. These are some good ideas. In the euro area the situation of the banks is still a big concern. They are still seen as undercapitalized. What do you think, especially after the ECB’s Comprehensive Assessment comes close to its conclusion?