Remsperger, who is head of the Foundation Council of the Foundation of Monetary and Financial Stability and head of the Board of Trustees of the IMFS, analyzes the relationship between macro-prudential policy and the respective tools on the one hand and monetary policy on the other. Moreover, he scrutinizes the various institutions on national and European level, like the German financial stability committee (Ausschuss für Finanzstabilität, AFS), the European Systemic Risk Board (ESRB) and the European Central Bank with the Single Supervisory Mechanism (SSM). Finally, the author pursues the question whether the new tools of macro-prudential policy alone can ensure financial stability.
The IMFS Working Paper "Der makroprudentielle Komplex: der Prozess, das Schloss, das Urteil" is available in German and can be downloaded here (354KB, 34 pages).