And finally, the completion of the banking and financial unions would be a substantial step towards strengthening the euro area’s capacity to withstand any future shocks. 1/1  BIS central bankers' speeches
Central banks with access to micro information of individual financial institutions which enables them to effectively monitor both economic and financial conditions, are in the best position to detect such imbalances and certainly need to consider what policy actions they can take. A second argument would be that imbalances such as excess leverage would be best dealt with through supervisory and regulatory measures.