Stability before Competitiveness
Supervisory authorities must prioritize financial stability before considering measures to boost competitiveness and growth, according to top officials at the European Central Bank (ECB) and the Bank for International Settlements (BIS).
ECB's Donnery and BIS's Restoy discussed the merits of imposing a secondary mandate on growth.
Supervisors must prioritize financial stability before competitiveness.
Author's summary: ECB and BIS prioritize financial stability.
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