We have models of single institutions (typically central banks), or, alternatively, financial stability boards or committees that are designated to carry out macro-prudential policies.
From a financial stability perspective, it is important that the authorities responsible for macro-prudential policies should have (i) a well-defined mandate, (ii) clearly established long-term and intermediate objectives, and (iii) sufficient control over macro-prudential instruments that can be activated (or de-activated) in periods when risks to financial stability have been identified.