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Financial Regulation and SupervisionA post-crisis analysis$
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Eddy Wymeersch, Klaus J. Hopt, and Guido Ferrarini

Print publication date: 2012

Print ISBN-13: 9780199660902

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199660902.001.0001

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The Relationship between Micro-Macro-Prudential Supervision and Central Banking

The Relationship between Micro-Macro-Prudential Supervision and Central Banking

Chapter:
(p.57) 3 The Relationship between Micro-Macro-Prudential Supervision and Central Banking
Source:
Financial Regulation and Supervision
Author(s):

David Green

Publisher:
Oxford University Press
DOI:10.1093/acprof:osobl/9780199660902.003.0003

This chapter analyses the relationship between central banks and prudential supervision. It enumerates first three irreducible functions of a central bank then briefly mentions how supervision is not required. It discusses supervision at the central bank by defining the role of central banks in prudential supervision. It then considers supervision separate from the central bank by stating three arguments: potential conflict with monetary policy objectives; differences in independence and accountability requirements; and desirability of having manageable decision-making units where there is cross-sectoral regulatory consolidation. The chapter also looks at the differences between the processes and how interconnection is crucial.

Keywords:   central bank, prudential supervision, systemic risk, monetary policy, accountability

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