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European Prudential Banking Regulation and Supervision

Author : Larisa Dragomir

Publisher : Routledge

Page : 583 pages

File Size : 20,9 MB

Release : 2010-04-05

Category : Business & Economics

ISBN : 1135149917

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Book Description

The financial market events in 2007-2009 have spurred renewed interest and controversy in debates regarding financial regulation and supervision. This book takes stock of the developments in EU legislation, case law and institutional structures with regards to banking regulation and supervision, which preceded and followed the recent financial crisis. It does not merely provide an update, but anchors these developments into the broader EU law context, challenging past paradigms and anticipating possible developments. The author provides a systematic analysis of the interactions between the content of prudential rules and the mechanisms behind their production and application European Prudential Banking Regulation and Supervision includes discussions of the European banking market structure and of regulatory theory that both aim to circumscribe prudential concerns. It scrutinises the content of prudential norms, proposes a qualification of these norms and an assessment of their interaction with other types of norms (corporate, auditing and accounting, consumer protection, competition rules). It also features an analysis of the underpinning institutional set-up and its envisaged reforms, focusing on the typical EU concerns related to checks and balances. Finally, the book attempts to revive the debate on supervisory liability, in light of the developments discussed. This book will be of great value to all those interested in financial stability matters (practitioners, policy-makers, students, academics), as well as to EU law scholars.





Banking Regulation and World Trade Law

Author : Lazaros E. Panourgias

Publisher : Bloomsbury Publishing

Page : 310 pages

File Size : 48,8 MB

Release : 2006-04-07

Category : Law

ISBN : 1847311814

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Book Description

Banking Regulation and World Trade Law concerns the legal aspects of the interaction between banking regulation and international trade in financial services. The author studies the internal banking market of the European Union, the liberalisation of financial services trade in the World Trade Organization, the accords of the Basel Committee on Banking Supervision and the European Central Bank. The book focuses on the balancing between banking regulation and international trade law. It discusses discrimination and proportionality in national banking regulation, the allocation of prudential regulation and supervision between home and host country, and international financial law-making. The author questions decentralised/nation-based banking regulation and supervision as a foundation for a sustainable liberalisation of international trade in financial services. The book considers various reforms of the international financial architecture, such as the incorporation of the Basel processes and accords into the WTO system, and the setting up of new international institutions by building on the Basel Committees or the IMF structures. The role of central banking in designing the international financial architecture is also explored: the book reviews the ECB's competence over foreign exchange policy and its function as lender of last resort, and treats price stability, banking soundness and representation as critical concepts. The analysis also reveals that the concept of 'prudential', despite its extensive use in banking regulation, has not been defined with adequate precision. In seeking to delineate the interface between international economic law and banking regulation, Dr Panourgias builds on the rich European scholarship on institutional financial issues and the US interdisciplinary approach to world trade law. He also entertains the notion of international financial law as a distinct field. The book will be of particular interest to those concerned with financial law and international banking.



The future of EU financial regulation and supervision

Author : Great Britain: Parliament: House of Lords: European Union Committee

Publisher : The Stationery Office

Page : 88 pages

File Size : 42,63 MB

Release : 2009-06-17

Category : Business & Economics

ISBN : 9780108444395

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Book Description

The European Union Committee undertook this inquiry as the implications of the financial crisis became clear. Supervisors in the UK, in the EU, and globally failed to identify the impending meltdown, and failed to take preventative action. Reform of regulation and supervision of the financial system has become an important political topic. In response to the crisis the European Commission has so far published four regulatory proposals on Capital Requirements, Deposit Guarantee Schemes, Credit Rating Agencies and Alternative Investment Funds. The first two of these have been agreed and are largely sensible responses to the crisis. The proposals to regulate alternative investment funds and credit rating agencies are more controversial, highlighting the need for more thorough consultation, impact assessment and risk analysis. Further coordination of supervision of the EU financial institutions and markets is seen as necessary and financial services in the EU will benefit from strengthened macro- and micro-prudential supervision. This should provide a more effective early warning system for mitigating systemic risks and help improve the operation of the single market in financial services. The Committee supports the establishment of a new body at the EU level to assess and monitor macro-prudential systemic risks arising from financial markets and institutions. Major strengthening of the powers of any EU micro-prudential body is, though, a matter of some controversy and thorough and careful debate of the alternatives for reform within existing limitations is necessary. The Commission has applied state aid rules speedily and flexibly and has helped ensure that bail-outs of failing banks and mitigation of damage to the real economy do not jeopardise the single market.



Prudential Supervision

Author : Frederic S. Mishkin

Publisher : University of Chicago Press

Page : 379 pages

File Size : 47,41 MB

Release : 2009-02-15

Category : Business & Economics

ISBN : 0226531937

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Book Description

Since banking systems play a crucial role in maintaining the overall health of the economy, the adverse effects of poorly supervised systems may be quite severe. Without some form of vigilant external oversight, banking systems could fall prey to excessive risk taking, moral hazard, and corruption. Prudential supervision provides that oversight, using government regulation and monitoring to ensure the soundness of the banking system and, by extension, the economy at large. The contributors to this thoughtful volume examine the current state of prudential supervision, focusing on fundamental issues and key pragmatic concerns. Why is prudential supervision so important? What kinds of excess must it guard against? What particular forms does it take? Which of these are the most effective deterrents against mismanagement and system overload in today's rapidly shifting financial climate? The contributors foresee a continued movement beyond simple regulatory rules in banking and toward a more active evaluation and supervision of a bank's risk management practices.



The Prudential Regulation of Banks

Author : Mathias Dewatripont

Publisher :

Page : 0 pages

File Size : 43,58 MB

Release : 1994-12

Category : Banking law

ISBN : 9780262513869

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Book Description

The Prudential Regulation of Banks applies modern economic theory to prudential regulation of financial intermediaries. Dewatripont and Tirole tackle the key problem of providing the right incentives to management in banks by looking at how external intervention by claimholders (holders of equity or debt) affects managerial incentives and how that intervention might ideally be implemented. Their primary focus is the regulation of commercial banks and S&Ls, but many of the implications of their theory are also valid for other intermediaries such as insurance companies, pension funds, and securities funds. Observing that the main concern of the regulation of intermediaries is solvency (the relation between equity, debt, and asset riskiness), the authors provide institutional background and develop a case for regulation as performing the monitoring functions (screening, auditing, convenant writing, and intervention) that dispersed depositors are unable or unwilling to perform. They also illustrate the dangers of regulatory failure in a summary of the S&L crisis of the 1980s. Following a survey of banking theory, Dewatripont and Tirole develop their model of the capital structure of banks and show how optimal regulation can be achieved using capital adequacy requirements and external intervention when banks are violated. They explain how regulation can be designed to minimize risks of accounting manipulations and to insulate bank managers from macroeconomic shocks, which are beyond their control. Finally, they provide a detailed evaluation of the existing regulation and of potential alternatives, such as rating agencies, private deposit insurance, and large private depositors. They show that these reforms are, at best, a complement, rather than a substitute, to the existing regulation which combines capital ratios with external intervention in case of insolvency. The Prudential Regulation of Banks is part of the Walras Pareto Lectures, from the Universiy of Lausanne.



Regulating and Supervising European Financial Markets

Author : Mads Andenas

Publisher : Springer

Page : 438 pages

File Size : 27,33 MB

Release : 2016-08-16

Category : Law

ISBN : 3319321749

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Book Description

The book analyses the institutions of the European financial market supervision and the challenges of financial markets. The current European supervisory structure for financial markets represents a major development in European supervisory history. Its operation however has to be explored and analysed critically. Has it gone far enough to provide a sufficiently comprehensive and resilient system to reduce or mitigate systemic risks and handle financial crises? Some claim it has gone too far already. Fresh and rigorous critical legal and economic analysis from an independent scholarly perspective are needed to assess whether the institutional design of the European supervisory architecture has proved itself to be an efficient and effective model. This book discusses many dimensions of the structure and workings of the European system from various angles providing different dimensions. The book makes an important contribution to the limited literature on financial market supervision.



Financial Regulation in the European Union

Author : Rainer Kattel

Publisher : Routledge

Page : 303 pages

File Size : 40,60 MB

Release : 2015-10-08

Category : Business & Economics

ISBN : 1317428838

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Book Description

This collection offers a comparative overview of how financial regulations have evolved in various European countries since the introduction of the single European market in 1986. It includes a number of country studies which provides a narrative of the domestic financial regulatory structure at the beginning of the period, as well the means by which the EU Directives have been introduced into domestic legislation and the impact on the financial structure of the economy. In particular, studies highlight how the discretion allowed by the Directives has been used to meet the then existing domestic conditions and financial structure as well as how they have modified that structure. Countries covered are France, Germany, Italy, Spain, Estonia, Hungary and Slovenia. The book also contains an overview of regulatory changes in the UK and Nordic countries, and in post-crisis USA. This comparative approach raises questions about whether past and more recent regulatory changes have in fact contributed to increase financial stability in the EU. The comparative analysis provided in this book raises questions on whether the past and more recent changes are contributing to increase the financial stability and efficiency of individual banks and national financial systems. The crisis has demonstrated the drawbacks of formulating the regulatory framework on standards borrowed from the best industry practices from the large developed countries, originally designed exclusively for large global banks, but now applied to all financial institutions.



Handbook of Central Banking, Financial Regulation and Supervision

Author : S. Eijffinger

Publisher : Edward Elgar Publishing

Page : 673 pages

File Size : 19,21 MB

Release : 2011-01-01

Category : Business & Economics

ISBN : 1849805768

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Book Description

ÔThis Handbook is a must read for policy makers and practitioners alike as well as excellent reading for advanced academic courses in international banking.Õ Ð Allard Bruinshoofd, SUERF ÔThis collection of papers is essential reading for anyone interested in central banking, regulation and supervision. Sylvester Eijffinger and Donato Masciandaro have brought together contributions from the leading academics, central bankers and regulators, providing the most up-to-date analysis of this critical subject.Õ Ð Paul Mizen, University of Nottingham, UK This stimulating and original Handbook offers an updated and systematic discussion of the relationship between central banks, financial regulation and supervision after the global financial crisis. The crisis has raised new questions about the compatibility of monetary and financial stability, which are changing the face of central banking and its relationships with the architecture of financial regulation and supervision. The Handbook explores on both the economics and political economy of the topic, in order to understand how and why reforms of the role of the central banks can be designed and implemented. The general suggestion is that future effectiveness of the central banking architecture will depend on its ability to ensure the consistency between the monetary actions in normal and extraordinary times. Consequently the possible paths in the central bank strategies and tactics, as well as in the classic concepts of independence, accountability and transparency, are analyzed and discussed. With chapters written by outstanding scholars in economics, this lucid Handbook will appeal to academics, policymakers and practitioners, ranging from central bankers and supervisory authorities to financial operators. Among the academics it would be of particular interest to financial and monetary economists (including postgraduate students), but the institutional slant and the central theme of relations between economics, institutional settings and politics will also be invaluable for political scientists.



The enforcement dimension of the single supervisory mechanism

Author : SILVIA ALLEGREZZA

Publisher : CEDAM

Page : 638 pages

File Size : 27,33 MB

Release : 2020-09-14

Category : Law

ISBN : 8813369859

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Book Description

This book explores the sheer complexity of the SSM’s institutional design adopting an comprehensive approach to banking supervision. At its core, this work examines the tangible mechanisms of prudential regulation or supervision both at the European and national levels, offering a comparative analysis of ten national systems. Reflecting the results of an intensive, four-year research project that saw the collaboration of academics and practitioners, it addresses two interrelated issues. It investigates the efficacy of the shared national- and EU-level enforcement system the EU introduced in reaction to the financial and banking crisis.Secondly, it scrutinizes the role that criminal law can play in sanctioning the breaches to banking regulation.