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• The Legal Status of Macro-prudential Authorities in the Member States of the European Union

  János Kálmán

  Michal Janovec

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  The study examines the main components of the organisational framework for macro-prudential management in the Member States of the European Union. The organisational design of macro-prudential management is a matter for the Member States, which can themselves be grouped into different models. The study first presents the international and EU standards and recommendations on the status of macro-prudential bodies in the Member States, then summarises the basic, theoretically relevant features of the status of macro-prudential bodies in the Member States, presents the analytical methodology of the study and finally analyses the features of the status of macro-prudential bodies in the Member States according to the methodology defined. The study concludes that there is a tendency for the EU macro-prudential body to standardise the basic elements of the status of macro-prudential bodies. However, the process of unification of the content of the institutional framework is still at an early stage and a variety of legal solutions can be identified for each of the substantive aspects. The study concludes that the institutional framework of macro-prudential policy can be described by a coordinated unification of the substantive pillars, with different formal features, but with different legal solutions.