The two-pillar structure represents an analytical commitment on the part of the Eurosystem to ensure the robustness of monetary policy by taking due account of different paradigms in policy considerations. Third, the two-pillar architecture serves as a communication device. It allows conveying monetary policy decisions and the underlying rationales to the public in a most transparent manner.
Global Financial Development Report (Rethinking the role of the state in finance). The World Bank: Washington DC. 2  BIS central bankers’ speeches  improved along with the inclusion of two buffers: a microprudential capital conservation buffer designed to cushion banks during periods of stress overlaid with a macroprudential countercyclical buffer, to be applied by national authorities to smooth cyclical swings.