Macroprudential supervision

One of the main lessons learned from the recent financial crisis was that an individual approach to institutions does not suffice to mitigate the risk of financial fragility.Within a context of market globalization, interactions between financial institutions can rapidly provoke contagion phenomena, which will spread all the more rapidly as the leading market participants adopt similar strategies or take identical positions.

Following the recommendations of the European Systemic Risk Board (ESRB), which was given the task of coordinating the conduct of macroprudential policy within the EU, the NBB has been designated as the national authority in charge of macroprudential policy by the Law of 25 April 2014 establishing the mechanisms of a macroprudential policy and spelling out the specific tasks devolved to the NBB in connection with its task of contributing to the stability of the financial system.