In the course of the
Financial Stability Act (FinStabG; German Financial Stability Act) of November 28, 2012, with the aim of ensuring the cooperation of German authorities in safeguarding financial stability. The AFS comprises three representatives each from the Federal Ministry of Finance, the Federal Financial Supervisory Authority and the Deutsche Bundesbank, as well as a non-voting representative from the Financial Market Stabilization Agency. The AFS was established in response to the European Systemic Risk Council’s call for national legislation to designate a central authority responsible for macroprudential supervision.- The most important weapon of the AFS is communication: warnings, notices and recommendations are publicized. Only if the public takes notice of these can the body have a preventive effect on financial stability. After all, the power to change things (the power to change matters) lies with legislators or regulators, but not with the AFS. – See contagion effects, committee mania, banking supervision, European, Banking Supervision Committee, cash crop, domino effect, European Systemic Risk Council, ESCB Macroprudential Research Network, financial crisis, concurrency problem, macroprudential, regulatory mania, risk, systemic, solvency supervision, spider web model, systemic risk, central credit registry, cyclicality. – Cf. Financial Stability Report 2013, p. 102 f. (introduction of the committee; allocation of tasks; no decisions on warnings or recommendations can be taken against the votes of Bundesbank representatives), Annual Report 2013 of the Deutsche Bundesbank, p. 17 (strong weight of the Deutsche Bundesbank).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/

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