Closing ranks between prevention and management of systemic crises : a proposal to couple the ESRB with the ESM

Sebastian Thomasius

On the occasion of related proposals by the European Commission and the Eurogroup, this paper proposes to entrust the ESM with the hosting of the ESRB in the medium term. The novel proposal aims at strengthening the macro-prudential expertise of the ESM and at enhancing the independence of the ESRB. Following a brief summary of related proposals, the main rationales and the key elements of the proposal are presented in detail.

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Year of publication:	[2018] ; This version: 28 August 2018
Authors:	Thomasius, Sebastian
Publisher:	Berlin : Freie Universität Berlin
Subject:	financial stability \| macroprudential policy and supervision \| financial crisis prevention and resolution \| conflict of interest \| euro area \| Finanzkrise \| Financial crisis \| EU-Staaten \| EU countries \| Eurozone \| Euro area \| Bankenaufsicht \| Banking supervision \| Finanzmarktaufsicht \| Financial supervision \| Bankenregulierung \| Bank regulation \| Systemrisiko \| Systemic risk \| Europäischer Stabilitätsmechanismus \| European Stability Mechanism \| Geldpolitik \| Monetary policy