Thus, the Danish institutional setup, where the Chair of the Board of Governors at the central bank also chairs a risk council that can issue recommendations to the Government on a comply-or-explain basis, is indeed rather unique. Internally in the Danish central bank, this setup has led to some considerations as regards the dual role of the Governor.
It is impossible for the Governor to communicate the views on macroprudential policy of both the central bank and the Council to the public. The press and people in general would have difficulties distinguishing between different views coming from the same person.