Mario Draghi, President of the ECB and Chair of the European Systemic Risk Board, speaks about the use of macroprudential tools over recent years, how the toolkit needs to keep pace with new developments, and the need for high-quality data.
Policymakers across Europe have proven willing to use macroprudential policy to address risks and vulnerabilities.
These measures have helped counter the build-up of risks but continued monitoring and assessment remain necessary to be able to take timely and appropriate action to preserve financial stability.
Yet as the financial system moves to a greater use of market-based finance, authorities require a commensurate set of data to identify risks and vulnerabilities and tools to effectively address them.
Financial stability analysis is also entering new fields. This conference will highlight that the use of the EMIR data is part of a wider endeavour to apply artificial intelligence and big data tools to identifying risks to financial stability. The conference will also consider the role of macroprudential policy in sustainable finance, such that the financial system contributes to sustainable growth.
Mr Draghi said:
“I hope that when you return to your institutions after this conference you will feel inspired by the new methods of analysis and the possibilities macroprudential tools provide.“
Full speech
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