| ESRB Recommendation on the on the macro-prudential mandate of national authorities
On 14 February 2012 the recommendation of the European Systemic Risk Board (ESRB) of 22 December 2011 on the macro-prudential mandate of the national authorities was published in Polish in the EU Official Journal. The recommendation of the ESRB states that each EU Member State should designate in the national legislation an authority entrusted with the conduct of macro-prudential policy. The macro-prudential authority may be a single institution or a council composed of several institutions whose actions have a significant impact on financial stability. Central banks should play a leading role in the conduct of macro-prudential policy.  Recommendation of the European Systemic Risk Board of 22 December 2011 on the macroprudential mandate of national authorities
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