Former central banker Paul Tucker is the chair of the Systemic Risk Council, a Fellow at the Harvard Kennedy School, and author of Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State. 

LONG BIO

Microprudential Versus Macroprudential Supervision

Functions that Make Sense Only As Part of an Overall Regime for Financial Stability. Boston Federal Reserve Bank Conference 

I have been asked to address the question of how micro-prudential supervision and macro-prudential supervision fit together. My answer is that neither of these activities, and especially micro supervision, is well-defined as a self-standing activity.

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