ECB’s de Guindos: Banks and Non-Banks to Benefit from Macroprudential Policy

26 September 2024

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Thursday said that macroprudential frameworks could be applied to non-banks and have a positive impact both on these and on banks.

During a panel at the European Systemic Risk Board (ESRB) Annual Conference, de Guindos said, '[I]f we apply the correct macroprudential policy and the macroprudential frameworks to the non-banks and we improve the resilience of the non-banks, simultaneously what we are doing at the end of the day is to improve the resilience of the banks.'

There were three key aspects to macroprudential policy for non-banks, he said, namely liquidity, leverage and avoiding regulatory fragmentation.

A macroprudential framework was fundamental for the capital markets union to advance, he said.

'The capital markets union is something we've had a lot of discussions about and very little delivery', he said. 'A consistent, coherent macroprudential policy tool for non-banks is an important step for the Capital Markets Union.'