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Financial Supervision in Europe
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.
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Critical Acclaim
Contributors
Contents
More Information
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.
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.
Critical Acclaim
‘Financial Supervision in Europe backs its arguments with a wealth of data, proposals to facilitate better models, examination of the incentives for national supervisory authorities to monitor cross-border matters, and much more. Highly recommended for advanced economics students, lecturers, researchers and professionals in the world of banking and finance seeking to broaden their understanding and perceptions.’
– The Economics Shelf, Wisconsin Bookwatch
– The Economics Shelf, Wisconsin Bookwatch
Contributors
Contributors: K. Burkhard Caspari, A. Enria, R. Fellgett, X. Freixas, C.A.E. Goodhart, D. Gros, J.J.M. Kremers, J.F. Mogg, T. Padoa-Schioppa, P.J. Pearson, A. van Rossum, G.J. Schinasi, D. Schoenmaker, N. Thygesen, J. Vesala, I. Walter, P.J. Wierts, G. Zalm
Contents
Contents: Preface 1. Financial Supervision in Europe: An Overview 2. Financial Integration Across Borders and Across Sectors: Implications for Regulatory Structures 3. Externalities in Supervision: The European Case 4. Crisis Management in Europe 5. The Political Economy of Financial Harmonisation in Europe 6. Financial Markets’ Legislation – Consequences for the Structure of Supervision 7. Financial Supervision: Inside or Outside Central Banks? Index
