Notes that the ECB's policy to address financial stability risks solely with macro prudential tools is in contradiction with the BIS' view that macro prudential policy is a complement and not a substitute to monetary policy;
ugotavlja, da je politika ECB, da se tveganja za finančno stabilnost obravnavajo zgolj z makrobonitetnimi orodji, v nasprotju s stališčem Banke za mednarodne poravnave, da makrobonitetna politika dopolnjuje denarno politiko, ni pa nadomestilo zanjo;