Central bank independence and policy coordination in a globalised world

Evento: International Symposium on Central Bank Independence. Organizado por: Sveriges Riksbank
There needs to be an appropriate balance between globally-agreed decisions and national measures. This is the approach that has always been pursued by the Basel Committee. It comprises: (i) a common and consistent global baseline of standards and principles to provide a level-playing field; (ii) the ability of member jurisdictions to apply additional and more prudent measures to help mitigate specific areas of risks and vulnerabilities related to their banking systems; and (iii) the possibility for them to implement the proportionality principle in their domestic regulatory and supervisory frameworks, in such a way that neither financial stability nor the safety of financial institutions is undermined.