They share a common goal, but they approach it from different perspectives. I hope I have persuaded you that the interrelationship between these perspectives is broader and deeper than is usually thought. Monetary policy and prudential supervision interact in ways that increasingly demand a unified, and mutually reinforcing framework. Much progress has been made in developing such a framework in recent years.
Nevertheless, much remains to be done. The preservation of stability in the financial system requires an understanding of how macroeconomic developments interact with institutional behaviour and prudential norms to support or undermine equilibrating tendencies.