With the creation of the Banking Union and the launch of a new macroprudential policy framework, banking supervision in Europe has become significantly more complex than it used to be. The coexistence of micro- and macro-prudential regimes that rely on similar tools to pursue different objectives may at times give place to conflicting policy interventions. […]
Piergiorgio Alessandri is research fellow at Bank of Italy. He previously worked as a Senior Economist at Bank of England. He has been visiting scholar at Norges Bank.