"missed the forest for the trees". As a result, the need for macroprudential aspects of regulation emerged, which has recently … macroprudential regulation in creating stable, yet effcient financial systems. At the same time, I emphasize the importance of … regulation did not take the "big picture" of the system suffciently into account and, subsequently, financial supervision mainly …

This paper describes concepts and tools behind macroprudential monitoring and the growing importance of macroprudential … tools for assessing the stability of financial systems. This paper also employs a macroprudential approach in examining …