We reviewed the proposals on the table, most notably on strengthening global financial resilience through increased surveillance, particularly of risks, and through better integrated advice on monetary policy, macroprudential policy and capital flow measures. 1/2  BIS central bankers' speeches  While we acknowledged that all of the topics covered in the report are clearly relevant, approaches to address them are at times controversial.
We also discussed the role of central banks, which is limited given their domestic mandates. Still, there is recognition that, for example, capital-sending countries have a stake in global financial stability. Major central banks, including the ECB, are therefore analysing the impact of monetary policy spillovers on financial markets and international capital flows.