Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/71362 
Authors: 
Year of Publication: 
2009
Series/Report no.: 
UCD Centre for Economic Research Working Paper Series No. WP09/15
Publisher: 
University College Dublin, UCD School of Economics, Dublin
Abstract: 
The European Council's decisions to implement the De Larosiere recommendations for a reformed approach to micro-level financial supervision and a new European Systemic Risk Board (ESRB) are to be welcomed. The ECB's central role in the ESRB is also to be welcomed. However, the limited role envisaged for the ESRB means that it may not actually help much in preventing future crises. The ESRB should be given a central role in the implementation of counter-cyclical capital ratios and in promoting (and then overseeing implementation of) other changes such as maximum leverage ratios and limits on non-core funding.
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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