Alex Brazier: How to: MACROPRU. 5 principles for macroprudential policy
Speech by Mr Alex Brazier, Executive Director for Financial Stability Strategy and Risk of the Bank of England, at the London School of Economics, Financial Regulation Seminar, London, 13 February 2017.
It is an honour to be here at this LSE London Financial Regulation Seminar.
My theme this evening is macroprudential policy - the business of ensuring, through regulation, that the financial system can serve the real economy, in good times and bad.
Macroprudential policy regimes are the child of the financial crisis; the institutional memory of the mistakes and behaviour that led to the crisis and that had such severe cost.
And the LSE has been the scene of many important contributions to assessing what went wrong and to the building of the post-crisis regime, including from central bank governors, past and present.
So I stand tonight on the shoulders of giants. But I want to simultaneously keep my feet firmly on the ground - on the practice of macroprudential policy.