The European Commission has launched a public consultation to gather feedback and evidence on the functioning of the EU macro-prudential framework. The goal of the macro-prudential framework is to ensure the stability of the financial system as a whole and to allow EU Member States to address specific financial stability risks.
The consultation is seeking the opinions of interested and affected groups, such as members of the industry, banks, trade bodies, interested academics, as well as consumer organisations. The consultation will include a broad range of questions on narrowing and refining the scope of existing macro-prudential instruments (such as capital buffers), making the rules more consistent with one another, as well as examining the role and organisational structure of the ESRB and its relationship with the European Central Bank. The consultation will run from 1 August 2016 until 26 October 2016.