The high costs of the financial crisis showed that a strong macroprudential policy framework is essential to ensure financial stability. A strong policy framework is particularly important in currency unions, since the monetary policy stance adopted at the center may give rise to diverging developments in credit across Member States that will require macroprudential policy action at the national level.
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|Size: ||1.1 MB|
|Publisher: ||INTERNATIONAL MONETARY FUND|
|Date published: || 2016|
|ISBN: ||9781475542387 (DRM-EPUB)|
|Read Aloud: ||not allowed|