The Case for a European Banking Charter
| Autor: | Jörg Decressin, Martin Cihak |
|---|---|
| Rok vydání: | 2007 |
| Předmět: |
Level playing field
Informal sector Charter Financial risk management Financial system Europe European Union Financial stability Financial System Banking Charter banking deposit insurance financial institutions level playing field Competition (economics) Accountability General Earth and Planetary Sciences media_common.cataloged_instance Deposit insurance Business European union General Environmental Science media_common |
| Popis: | Most financial institutions in the European Union (EU) are still based in one country, but a number of large financial institutions (LCFI) have systemic cross-border exposures. The paper explains how, despite much progress, nationally-segmented supervisory frameworks and national accountability for financial stability hinder optimization across borders of banks' operations and efficient and effective LCFI supervision. A full-fledged EU-level prudential regime that operates along-side national regimes--a European Banking Charter (EBC)--could harness market forces to establish a level playing field for financial sector competition, while plugging some significant gaps in Europe's financial stability framework without concentrating excessive powers. |
| Databáze: | OpenAIRE |
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