European Contract Law In A Changed Banking And Financial Architecture
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European Contract Law In A Changed Banking And Financial Architecture
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Author : Stefan Grundmann
language : en
Publisher: Primento Digital sprl
Release Date : 2024-09-16
European Contract Law In A Changed Banking And Financial Architecture written by Stefan Grundmann and has been published by Primento Digital sprl this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-09-16 with Law categories.
The European Banking Union forms the answer of the EU to the global financial crisis, strongly increasing own funds basis for more robust credit institutions, installing a recovery and resolution regime with strong planning and preventive measures and opting for the supervisory with the broadest reach, the European Central Bank. The first part of the book – after the design of the overall architecture and a clarification of the main policy lines and theoretical underpinnings – describes the main features of this regime. It does so in particular for recovery tools and their conceptual novelty, focusing on private claims within the regime, namely within deposit guarantee schemes and for liability of supervisory authorities. The main question asked in the volume is, however, in what respects this new regime changed European Contract Law. The answer is two-fold, and this is the focus of the still more extensive second part. The first answer is that the main thrust – stability first and no socialization of costs and privatization of gains – constitutes a novel approach, a clear dedication to the prevalence of the public good. This is a thrust, which – with corporate social responsibility, responsibility driven lending and similar – will become the main development in the 2010s and 2020s. One can speak of a green-box approach that establishes clear firm-holds within an area characterized by autonomous choice (‘free markets’, including the Internal Market). The second answer is more multi-faceted. The range of possibilities of private party claims and participation rights rises enormously – as it did before in other regulatory areas, namely in competition law with intervention of the CJEU and the EU legislature. This ranges from credit institutions themselves more actively contributing to best practices and self-regulation, to claims of private parties (creditors, customers) against credit-institutions not complying with the regulatory regime, and finally enhanced procedures for enforcement by private parties (as private advocates general). The volume closes with a case study of the Foreign Currency Loans crisis, namely in Central Europe, which may also become a huge test case for the new architecture, but at least raises parallel questions. With Contributions by Esther Arroyo (Universitat de Barcelona), Alessandra De Aldisio (Senior advisor Banca d'Italia), Nikolai Badenhoop (Leibniz Institute for Financial Research SAFE Frankfurt), Ewa Baginska (University of Gdansk), François Barrière (University of Lumière Lyon II), Stefan Grundmann (Humboldt-University), Carlo Lanfranchi (Banca d'Italia), Moritz Renner (University of Mannheim), Michael Schillig (King’s College London), Pietro Sirena (Bocconi University) and Piotr Tereszkiewiecz (Jagellonian University).
European Contract Law In The Banking And Financial Union
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Author : Stefan Grundmann
language : en
Publisher: European Contract law and Theory
Release Date : 2023-11-22
European Contract Law In The Banking And Financial Union written by Stefan Grundmann and has been published by European Contract law and Theory this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-11-22 with categories.
This volume investigates how the post-crisis supervisory regime of the EU and the Eurozone impacts on bank managers duties and on market transactions: in their relationship to the large range of stakeholders, including the public as such, in current lending and investment transactions, in the phase of recovery and resolution (with bail-ins triggering changes of contractual rights), but also in adjudication, namely in banking related ADR schemes.
Financial Services Financial Crisis And General European Contract Law
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Author : Stefan Grundmann
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2011-01-01
Financial Services Financial Crisis And General European Contract Law written by Stefan Grundmann and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Law categories.
Speculation is rife on the origins of the worldwide financial crisis of 2008, with a preponderance focusing on alleged shortcomings in corporate governance. This book offers a distinct yet complementary perspective: that the most useful path to follow, if we want to understand what happened and forestall its happening again, is through an analysis of contract relationships - specifically, banking contracts entered into in the financial services sector, considered under the rubric of contract law rather than company law. Because banking is the area of European contract law which is most thoroughly developed, banking contracts can be seen as paradigmatic of typical assumptions and shortcomings often examined in the more general debate on contract law. And indeed, the very thoroughness of European banking contract law makes it a promising ground on which to build effective preventive measures. In this book thirteen noted scholars, recognizing that modern contract law must take into account global markets and risks, consider banking contracts within networks and within mass transactions. Always attending to the long-term relationships that characterize financial services contracts, they focus on such cross-sector issues as the following: rule-setting and the question of who should best regulate and at which level; networks of contracts as the backbone of a market economy; the complex interplay between market regulation and traditional contract law; avoiding erroneous assumptions about the future development of prices; the passing on of the risk via securitization; rating relationships affected by conflicts of interests; remuneration problems; core duties of information and advice in an agency relationship in services; fiduciary duties of loyalty and care; types of clients and level of protection; differentiation in information available on various markets; and the question of enforcement.
Effective Judicial Protection And Cross Border Financial Disputes In Europe
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Author : Marco Lamandini
language : en
Publisher: FrancoAngeli
Release Date : 2025-02-03
Effective Judicial Protection And Cross Border Financial Disputes In Europe written by Marco Lamandini and has been published by FrancoAngeli this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-02-03 with Law categories.
The Transformation Of The European Financial System
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Author : Vitor Gaspar
language : en
Publisher:
Release Date : 2003-01-01
The Transformation Of The European Financial System written by Vitor Gaspar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-01-01 with Banks and banking categories.
Market Based Banking And The International Financial Crisis
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Author : Iain Hardie
language : en
Publisher: OUP Oxford
Release Date : 2013-08-29
Market Based Banking And The International Financial Crisis written by Iain Hardie and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-29 with Business & Economics categories.
Economics and political economy lack the analytical tools to explain the differing impact of the recent international financial crisis that erupted in 2007 on developed economies. The principal contribution of this edited volume is to offer a 'market-based banking' framework which transcends the dominant dichotomous understanding of financial systems in terms of credit-based and capital-based. It demonstrates why this dichotomy is obsolete through an appreciation of the activities of banks. Further, it employs 'market-based banking' to overcome the inability of existing typologies to explain financial system change. 'Market-based banking' provides a framework that is more reflective of banking in modern financial systems, and one that provides a more successful explanation of the differential impact of the recent financial crisis. The comparative and single-country chapters in this volume compare the extent of 'market-based banking' across eleven countries, including all of the G7 economies. The chapters also consider the impact of the financial crisis in terms of necessary government support and lending to non-financial companies. The edited volume includes work by authors who are widely respected experts in national political economies, finance, financial regulation, banking, central banking, and monetary policy. This volume is one of the first book-length comparative studies of the financial crisis and its impact and one of the few recent comparative studies of national banking / financial systems in any discipline.
European Banking And Financial Law
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Author : Matthias Haentjens
language : en
Publisher: Routledge
Release Date : 2015-06-05
European Banking And Financial Law written by Matthias Haentjens and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-05 with Law categories.
In recent decades, the volume of EU legislation on financial law has increased exponentially. Banks, insurers, pension funds, investment firms and other financial institutions all are increasingly subject to European regulatory rules, as are day to day financial transactions. Serving as a comprehensive and authoritative introduction to European banking and financial law, the book is organized around the three economic themes that are central to the financial industry: (i) financial markets; (ii) financial institutions; and (iii) financial transactions. It covers not only regulatory law, but also commercial law that is relevant for the most important financial transactions. It also explains the most important international standard contracts such as LMA loan contracts and the GMRA repurchase agreements. Covering a broad range of aspects of financial law from a European perspective, it is essential reading for students of financial law and European regulation.
The Age Of Esma
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Author : Niamh Moloney
language : en
Publisher: Bloomsbury Publishing
Release Date : 2018-11-29
The Age Of Esma written by Niamh Moloney and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-29 with Law categories.
Since its establishment in 2011, the European Securities and Markets Authority (ESMA) has become a pivotal actor in EU financial market regulation and supervision. Its burgeoning influence extends from the rule-making process to supervisory convergence/coordination to direct supervision. Reflecting the now critical importance of ESMA to how the EU regulates and supervises financial markets, and with ESMA at an inflection point in its evolution, particularly in light of the Commission's 2017 proposals to reform ESMA and the UK's withdrawal from the EU, The Age of ESMA maps, contextualises, and examines ESMA's role and the implications for EU financial market governance.
The European Banking Union And Constitution
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Author : Stefan Grundmann
language : en
Publisher: Bloomsbury Publishing
Release Date : 2019-01-24
The European Banking Union And Constitution written by Stefan Grundmann and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-24 with Law categories.
In 2012, at the height of the sovereign debt crisis, European decision makers pushed for developing an 'ever closer union' with the formation of a European Banking Union (BU). Although it provoked widespread debate, to date there has been no coherent discussion of the political and constitutional dimensions of the European Banking Union. This important new publication fills this gap. Drawing on the expertise of recognised experts in the field, it explores banking union from legal, economic and political perspectives. It takes a four-part approach. Firstly, it sets the scene by examining the constitutional foundations of banking union. Then in parts 2 and 3, it looks at the implications of banking union for European integration and for democracy. Finally it asks whether banking union might be more usefully regarded as a trade-off between integration and democracy. This is an important, timely and authoritative collection.
The Misery Of International Law
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Author : John Linarelli
language : en
Publisher: Oxford University Press
Release Date : 2018-03-23
The Misery Of International Law written by John Linarelli and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-23 with Law categories.
Poverty, inequality, and dispossession accompany economic globalization. Bringing together three international law scholars, this book addresses how international law and its regimes of trade, investment, finance, as well as human rights, are implicated in the construction of misery, and how international law is producing, reproducing, and embedding injustice and narrowing the alternatives that might really serve humanity. Adopting a pluralist approach, the authors confront the unconscionable dimensions of the global economic order, the false premises upon which they are built, and the role of international law in constituting and sustaining them. Combining insights from radical critiques, political philosophy, history, and critical development studies, the book explores the pathologies at work in international economic law today. International law must abide by the requirements of justice if it is to make a call for compliance with it, but this work claims it drastically fails do so. In a legal order structured around neoliberal ideologies rather than principles of justice, every state can and does grab what it can in the economic sphere on the basis of power and interest, legally so and under colour of law. This book examines how international law on trade and foreign investment and the law and norms on global finance has been shaped to benefit the rich and powerful at the expense of others. It studies how a set of principles, in the form of a New International Economic Order (NIEO), that could have laid the groundwork for a more inclusive international law without even disrupting its market-orientation, were nonetheless undermined. As for international human rights law, it is under the terms of global capitalism that human rights operate. Before we can understand how human rights can create more just societies, we must first expose the ways in which they reflect capitalist society and how they assist in reproducing the underlying terms of immiseration that will continue to create the need for human rights protection. This book challenges conventional justifications of economic globalization and eschews false choices. It is not about whether one is "for" or "against" international trade, foreign investment, or global finance. The issue is to resolve how, if we are to engage in trade, investment, and finance, we do so in a manner that is accountable to persons whose lives are affected by international law. The deployment of human rights for their part must be considered against the ubiquity of neoliberal globalization under law, and not merely as a discrete, benevolent response to it.