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Author: Olivia Johanna Erdélyi Publisher: Springer ISBN: 331930707X Category : Law Languages : en Pages : 276
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: Olivia Johanna Erdélyi Publisher: Springer ISBN: 331930707X Category : Law Languages : en Pages : 276
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
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
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: Marta Božina Beroš Publisher: Springer ISBN: 331978689X Category : Business & Economics Languages : en Pages : 105
Book Description
This book studies relationship dynamics between National Competent Authorities (NCAs) within two agencies governing the European banking sector: the European Banking Authority and the Single Resolution Board. The analysis centres on NCAs policy preferences and the variety thereof, particularly in the context of banking market fragmentation (Euro area vs. non-Euro area countries/banking union "ins" and "outs"). The focus is not so much on the motivations of these preferences, but on the processes and mechanisms that help reach NCAs consensus on prudential matters. Through an interdisciplinary approach rooted in legal analysis and political economy, the book shows how national actors inform decision-making within European agencies in banking, and whether—and how—the reality of differentiated integration within the internal banking market challenges policy creation.
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
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: André Sapir Publisher: ISBN: 9789078910411 Category : Business & Economics Languages : en Pages : 182
Book Description
European banking supervision, also known as the Single Supervisory Mechanism, is the first and arguably the main component of European banking union. In late 2014, the European Central Bank became the supervisor for the region's largest banking groups; the ECB also oversees the supervision by national authorities of smaller banks. This Blueprint is the first in-depth study of how this ground-breaking reform is working in practice. Despite teething troubles and occasional misjudgements, this assessment finds that overall European banking supervision has been effective, demanding and broadly fair, at least for the banks under the ECB's direct watch. Even so, achieving a truly single market in banking services will require more time, further supervisory initiatives and new Europe-wide regulatory and legislative steps.
Author: Jeffrey Carmichael Publisher: World Bank Publications ISBN: 9780821360026 Category : Business & Economics Languages : en Pages : 290
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: Olivia Johanna Erdélyi
Author: Olivia Johanna Erdélyi
Author: Veerle Colaert
Author: Luca Amorello
Author: Marta Božina Beroš
Author: Rym Ayadi
Author: Jeroen J. M. Kremers
Author: 
Author: André Sapir
Author: Jeffrey Carmichael
Author: Vitor Gaspar