Klaas Knot: Are we all macroprudentialists now?

Keynote speech by Mr Klaas Knot, President of the Netherlands Bank, at a seminar entitled "Tomorrow's banking and how central banks have developed in last 15 Years", organized by the Bank of Finland, Helsinki, 16 January 2017.

It is a great pleasure for me to speak at this conference at the Bank of Finland, in which we pay tribute to Pentti Hakkarainen. As Deputy Governor and Chairman of the Finnish FSA, Pentti has played an important role in the areas of monetary policy and macroprudential policy.

In my remarks, I would like to focus on the increased importance of macroprudential policy for central banks, and elaborate on some of Pentti's main insights.

I want to raise three main points.