Makroostrożnościowy wymiar regulacji CRDIV/CRR

Macroprudential policy, initially a very general idea, has entered the operationalization stage. European regulations (so called CRDIV/CRR package) based on the international recommendations introduce a number of macroprudential tools. Furthermore, at the institutional level specially dedicated authorities responsible for conducting macroprudential policy have been established. The aim of this paper is to present the current institutional arrangements as well as regulations concerning macroprudential policy in the European Union. The theoretical deliberations have been supplemented by an analysis of macroprudential tools notified so far at the European level. The article includes also proposals of necessary changes in regulations which would increase the flexibility of applying macroprudential tools.