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A macro-prudential supervision framework to enhance financial stability Wang Zhaoxing, vice chairman of the China Banking Regulatory Commission, feels that macro-prudential policy tools should be a mix of rules and discretion. The global financial crisis highlighted the complementary relationship between the macro-prudential and micro-prudential elements of effective supervision. History has shown that neither price stability nor effective supervision at the individual firm level is sufficient to secure financial stabilit... All visitors must register to gain access. Access to selected news, research and our regular e-newsletters is free for up to 10 days from publication. Please login now or subscribe/register.
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