E. 13 See IMF-FSB-BIS (2016) “Elements of Effective Macroprudential Policies: Lessons from International  Experience” www.imf.org/external/np/g20/pdf/2016/083116.pdf 14 See Constâncio, V. (2017) “Macroprudential policy in a changing financial system”, Remarks at the second ECB  Macroprudential Policy and Research Conference, Frankfurt am Main, 11 May 2017.Schnabel, I.
15 Dedicated inspections were performed with the objective of evaluating the soundness and effectiveness of the valuation framework, the controls over the pricing models used to produce fair values, and the adequacy of the classification of positions measured at fair value. Supervisory efforts remain high with on-site inspections, deep dives and benchmarking exercises already planned or ongoing.