Macroprudential policies for non-bank financial intermediation

25 November 2024

The European Central Bank and the national central banks submitted a joint Eurosystem response to the targeted consultation assessing the adequacy of macroprudential policies for non-bank Ffinancial intermediation (NBFI) launched by the European Commission on 22 May 2024. The consultation closed on 22 November 2024.

In its joint response, the Eurosystem put forward proposals to strengthen macroprudential policies for non-bank financial intermediation in the European Union, taking into account global recommendations issued by the Financial Stability Board.

In addition to contributing to the joint Eurosystem response, Banca d'Italia submitted a separate response to the European Commission, drawing on its supervisory experience with non-bank intermediaries. This input enhances and supplements the Eurosystem's joint response.