The EU Commission's targeted consultation assessing the adequacy of macroprudential policies for non-bank financial intermediation (NBFI) ended on November 22, 2024. The consultation aims at identifying the vulnerabilities and risks of NBFIs and seeks to gather feedback on how to improve the current macroprudential framework for NBFIs in a targeted manner. This consultation is part of a review of the EU's macroprudential framework for both the NBFI sector and for credit institutions.

The Deutsche Bundesbank contributed to three consultation responses: a response of the Eurosystem, an ESRB response, and a joint response from BaFin, BMF and Deutsche Bundesbank. Key aspects of the responses relate to, inter alia, the implementation of internationally agreed reforms, targeted improvements to the current analytical and policy toolbox, and measures to improve the sharing of and access to existing NBFI data.