The decisionmaking process may take longer but, in a democracy, the final decision should lie with elected representatives. ACTIVATION AND BUILD-UP OF THE COUNTERCYCLICAL CAPITAL BUFFER (Slides 11 – 14)  20  Both the ESRB and the IMF have called for Denmark to further tighten its macroprudential measures towards households.
B. Enhancement of Market Functioning The second initiative is enhancement of market functioning in financial and capital markets. Disclosures are essential for smooth market functioning. In this regard, climate-related financial disclosures based on the TCFD recommendations have been widely adopted. In addition, international standards for climate-related disclosures are currently being discussed.