Analysis on Coordination Mechanism of Macro-prudential Supervision Function of Central Bank

2021 ◽  
2018 ◽  
Vol 14 (2) ◽  
pp. 283-310
Author(s):  
Matthias Goldmann

Banking Union – Single Supervisory Mechanism – Economic interplay between monetary policy and prudential supervision – Strict separation envisaged by the Single Supervisory Mechanism legal framework – Legal framework does not prevent a more holistic approach – Financial stability is a legitimate consideration for monetary policy-making – Price stability is a legitimate concern for prudential supervision – Challenge to European Central Bank legitimacy and independence – Democratising the European Central Bank


2018 ◽  
Vol 25 (1) ◽  
pp. 52-76
Author(s):  
Pieter Van Cleynenbreugel

This paper questions to what extent the confidential decision-making structure maintained at the European Central Bank is still compatible with the EU principle of openness recognized in Article 15 TFEU. To that extent, it analyses the different confidentiality regimes in place as well as the openness features adopted in both monetary policy and prudential supervision. It subsequently questions how those features comply with the letter and spirit of Article 15 TFEU. Aiming better to integrate existing confidentiality features with EU constitutional transparency obligations, this paper finally proposes some minor modifications to the European Central Bank decision-making framework to align it more directly to the spirit of openness reflected in Article 15.


2005 ◽  
Vol 35 (139) ◽  
pp. 287-300 ◽  
Author(s):  
Étienne Balibar

The problem of a European Constitution is discussed at a fundamental level. In which way, can we speak about such a Constitution? Thearticle argues against the “postnational souveranism”, legitimating state against citizens. A new kind of citizenship is favoured based on extended social rights. The constitution now proposed contrarily makes the European Central Bank and its neoliberal policy to central and nearly unchangeable institution.


2003 ◽  
pp. 26-39
Author(s):  
V. Maevsky ◽  
B. Kuzyk

A project for the long-term strategy of Russian break-through into post-industrial society is suggested which is directed at transformation of the hi-tech complex into the leading factor of economic development. The thesis is substantiated that there is an opportunity to realize such a strategy in case Russia shifts towards the mechanism of the monetary base growth generally accepted in developed countries: the Central Bank increases the quantity of "strong" money by means of purchasing state securities and allocates the increment of money in question according to budget priorities. At the same time for the realization of the said strategy it is necessary to partially restore savings lost during the hyperinflation period of 1992-1994 and default of 1998 and to secure development of the bank system as well as an increase of the volume of long-term credits on this base.


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