In addition, they naturally analyse developments at the macroprudential level extensively and consequently play a major role in the ESRB. However, wherever central banks are involved in financial supervision, it is imperative that this does not compromise their independence and their primary objective, which is to maintain price stability. 5.
The supervision of insurance firms and funds call for different approaches to that adopted for banks, and in both areas extensive and complex legislation has recently been introduced in Europe and Worldwide.