This constitutes an inevitable link to facilitate the development of the capital market and financial products. The institution growth to that effect calls for a relatively long period of time.
These new supranational tools will go a long way enguarding against the build-up of large imbalances of the kind that were present before the crisis. Other areas of intervention comprised the macroprudential oversight and the establishment of financial backstops:   The European Systemic Risk Board was established in 2011 to exercise macroprudential oversight of the EU-wide financial system.