Author: Olivia Johanna Erdélyi
Publisher: Springer
ISBN: 331930707X
Category : Law
Languages : en
Pages : 276
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Book Description
The book addresses the truly interdisciplinary and highly controversial subject of international financial regulation and supervision, which has been at the center of academic, political, and public attention since the start of the current economic and financial crisis. Drawing on international financial regulatory and supervisory experience and in line with the European Monetary Union’s gradual transformation into a Genuine Economic and Monetary Union, it proposes the transformation of the European financial supervisory framework into a hybrid twin-peaks model to create the previously missing necessary legal foundation for the adoption of the so-called Group Support Regime (GSR). The latter is a relatively simple and transparent capital management tool for (re)insurance groups operating in a parent-subsidiary structure proposed by the European Commission under the new Solvency II insurance supervisory framework, which despite lengthy consideration was eventually rejected by Member States.
Author: Veerle Colaert
Publisher: Bloomsbury Publishing
ISBN: 1509926461
Category : Law
Languages : en
Pages : 499
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Book Description
Mirroring the long-established structure of the financial industry, EU financial regulation as we know it today approaches banking, insurance and investment services separately and often divergently. In recent decades however, the clear separation between financial sectors has gradually evaporated, as business lines have converged across sectors and FinTech solutions have emerged which do not fit traditional sector boundaries. As the contours of the traditional tripartition in the financial industry have faded, the diverging regulatory and supervisory treatment of these sectors has become increasingly at odds with economic reality. This book brings together insights developed by distinguished researchers and industry professionals in a series of articles analysing the main areas of EU financial regulation from a cross-sectoral perspective. For each specific research theme – including prudential regulation, corporate governance and conduct of business rules – the similarities, as well as gaps, overlaps and unjustifiable differences between banking, securities and insurance regulation, are clearly presented and discussed. This innovative research approach is aimed at informing lawmakers and policymakers on potential improvements to EU financial regulation whilst also supporting legal and compliance professionals applying the current framework or looking to streamline compliance processes.
Author: Luca Amorello
Publisher: Springer
ISBN: 3319941569
Category : Business & Economics
Languages : en
Pages : 413
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Book Description
The European experience suggests that the efforts made to achieve an efficient trade-off between monetary policy and prudential supervision ultimately failed. The severity of the global crisis have pushed central banks to explore innovative tools—within or beyond their statutory constraints—capable of restoring the smooth functioning of the financial cycle, including setting macroprudential policy instruments in the regulatory toolkit. But macroprudential and monetary policies, by sharing multiple transmission channels, may interact—and conflict—with each other. Such conflicts may represent not only an economic challenge in the pursuit of price and financial stability, but also a legal uncertainty characterizing the regulatory developments of the EU macroprudential and monetary frameworks. In analyzing the “legal interaction” between the two frameworks in the EU, this book seeks to provide evidence of the inconsistencies associated with the structural separation of macroprudential and monetary frameworks, shedding light upon the legal instruments that could reconcile any potential policy inconsistency.
Author: Rym Ayadi
Publisher: CEPS
ISBN: 9789290794790
Category : Bank mergers
Languages : en
Pages : 108
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Book Description
Author: Jeroen J. M. Kremers
Publisher: Edward Elgar Publishing
ISBN: 9781840649314
Category : Bankenaufsicht / Finanzdienstleistung / Regulierung / Bankrecht / EU-Bankrecht / EU-Politik / Finanzmarkt / Marktintegration / EU-Staaten
Languages : en
Pages : 0
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Book Description
Financial Supervision in Europe discusses the implications of financial market integration for the structure of financial supervision in the European Union. It argues that, at present, negotiations on a European system of supervisors might lead to a compromise that may prove sub-optimal given the evolution of national supervisory models and international financial markets. As integration continues and the most appropriate national supervisory models emerge from a best practices approach, a reform of the organisational structure of supervision in Europe may become necessary. The contributors provide an overview of different arguments surrounding this discussion, and illustrate that several improvements to the present structure of supervision are possible. These include proposals to facilitate the evolution of national models, and concepts to strengthen co-ordination in supervision and in establishing clear procedures in crisis management. Detailing financial market developments in Europe and the US, the book questions the incentives for national supervisory authorities to monitor cross-border activities, to exchange information and to take into account the impact of their dealings with the financial systems of other countries. Classifying models for the organisational structure of financial supervision in Europe, this book will be of great interest to finance ministries, supervisory authorities, central banks and financial institutions. Students, lecturers and researchers of banking and finance will also find the book to be of importance.
Author: Jeffrey Carmichael
Publisher: World Bank Publications
ISBN: 9780821360026
Category : Business & Economics
Languages : en
Pages : 290
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Book Description
This publication contains the proceedings of an international conference on the regulation of financial institutions and supervisory structural reforms, held in Washington D.C., United States in December 2003 and involving participants from 52 countries. It considers case studies of experiences of regulatory reform approaches adopted in a number of countries including Australia, South Africa, Ireland, Sweden, Hungary and Estonia.
Author: Vitor Gaspar
Publisher:
ISBN: 9789291813483
Category : Banks and banking
Languages : en
Pages : 334
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Book Description
Author: Diego Valiante
Publisher: Centre for European Policy Studies
ISBN: 9781786600448
Category : Capital market
Languages : en
Pages : 0
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Book Description
This book builds on a year-long discussion with a group of academics, policy-makers and industry experts to provide a long-term contribution to the Capital Markets Union project, launched by the European Commission in 2015. It identifies 36 cross-border barriers to capital mar...
Author: Charles Goodhart
Publisher: Anthem Press
ISBN: 1783083042
Category : Business & Economics
Languages : en
Pages : 292
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Book Description
This book reflects on the innovations that central banks have introduced since the 2008 collapse of Lehman Brothers to improve their modes of intervention, regulation and resolution of financial markets and financial institutions. Authors from both academia and policy circles explore these innovations through four approaches: ‘Bank Capital Regulation’ examines the Basel III agreement; ‘Bank Resolution’ focuses on effective regimes for regulating and resolving ailing banks; ‘Central Banking with Collateral-Based Finance’ develops thought on the challenges that market-based finance pose for the conduct of central banking; and ‘Where Next for Central Banking’ examines the trajectory of central banking and its new, central role in sustaining capitalism.
Author: Stefano Micossi
Publisher:
ISBN: 9789290799290
Category : Political Science
Languages : en
Pages : 0
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Book Description
The contributors to this book are all members of EuropEos, a multidisciplinary group of jurists, economists, political scientists, and journalists in an ongoing forum discussing European institutional issues. The essays analyze emerging shifts in common policies, institutional settings, and legitimization, sketching out possible scenarios for the European Union of the 21st century. They are grouped into three sections, devoted to economics and consensus, international projection of the Union, and the institutional framework. Even after the major organizational reforms introduced to the EU by the new Treaty of Lisbon, which came into force in December 2009, Europe appears to remain an entity in flux, in search of its ultimate destiny. In line with the very essence of EuropEos, the views collected in this volume are sometimes at odds in their specific conclusions, but they stem from a common commitment to the European construction.
