As for financial supervision, stability would be guaranteed by ensuring that individual financial institutions adopt sound prudential rules that preserve capital cushions commensurate with their risk exposure. While central banks should be in charge of maintaining adequate levels of liquidity in the system, so-called “microprudential” financial regulation should independently oversee financial institutions’ soundness and the protection of depositors.
主流的政策蓝图大概是这样的：那些致力于控制通胀的货币主管部门已经足以维持物价稳定并保证经济以其潜在速率增长。在金融监管方面，只要确保金融机构能遵守一套健全的谨慎规则，确保其资本缓冲能力能与所承担风险相对称，那么稳定也是保证的。当中央银行负责保证系统中有充足流动性的时候，所谓“微观谨慎”的 金融监管应当独立监督金融机构的稳健性并对存款人进行保护。