Moreover, the monitoring of risk exposures across institutions, markets and borders will have to rely on the close cooperation with the relevant supervisory authorities (banking, insurance and securities supervisors) within the EU and globally. The analysis necessary for carrying out the macro-prudential tasks can partly be based on the economic and monetary analyses undertaken by central banks for the formulation of monetary policy.
We therefore strongly welcome the European Commission’s Next Generation EU proposal, which is dedicated to supporting the regions and sectors hardest hit by the pandemic, to strengthening the Single Market and to building a lasting and prosperous recovery. It is important for the European leaders to quickly agree on an ambitious package.