Thus, the challenge is to design international arrangements, which facilitate greater cooperation among our countries. In this sense, the existence of international institutions and forums that contribute to the early identification of risks and signs of instability are of utmost importance. 2  BIS central bankers’ speeches  In Latin America and the Caribbean we should continue to strengthen the dialogue.
Nevertheless, they have already been implemented in 17 Member States to curtail credit growth and household leverage. Harmonised or not, macroprudential measures have been implemented in a relatively consistent manner across Europe. This is due, in part, to the comprehensive governance structure that was set up after the crisis. This structure features a two-tier system. Countries are first in line to counter systemic risk.