The macroeconomic scoreboard is an instrument for early identification of macroeconomic imbalances, occurring in the short term or as a result of structural and long-term trends. The scoreboard presents a limited number of simple macroeconomic and macrofinancial indicators with threshold values. The threshold values serve as warning values. Based on the macroeconomic scoreboard, the European Commission draws up an annual report with a qualitative and financial assessment of imbalances trends. The assessment also includes other indicators.
In his introductory remarks at the Fifth Macroprudential Policy and Research Conference at the ECB in Frankfurt Klaas Knot discussed some of the challenges in using macro-prudential tools.
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The Dutch financial sector must be prepared to face increasing interest rate and credit risks at financial institutions. In addition, lower liquidity in financial markets may cause price fluctuations in one market to spill over to other parts of the financial system more quickly.
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“Risks to financial stability increase due to rapidly rising interest rates. Rising interest rates have made it more expensive for households and businesses in the Netherlands to borrow money.” Klaas Knot said this today at the presentation of DNB’s autumn 2023 Financial Stability Report.
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At the Flairs conference Klaas Knot spoke for an audience of young bankers about the experiences with bank failures since the global financial crisis, the importance of a well functioning and credible resolution regime, and the lessons we can draw from recent cases.
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