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Part I European Reform as a Response to the 2008 Crisis, 3 The Relationship between Micro-Macro-Prudential Supervision and Central Banking

David Green

From: Financial Regulation and Supervision: A post-crisis analysis

Edited By: Eddy Wymeersch, Klaus J Hopt, Guido Ferrarini

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 28 May 2023

3.01 The nature of the involvement of a central bank in the supervision of financial firms and of infrastructure providers is a matter of endless controversy. It is probably incapable of an answer that is generally applicable at all times and in all places. The controversy tends to create as much heat as light because it is often intimately involved in struggles about legitimacy, political or otherwise, influence and, ultimately, power. 3.02 The debate is often confusing because it is frequently couched in terms of extremes in territory where there are no...
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