Ring Fencing In Europe
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Ring Fencing In Europe
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Author : Konstantin Oppolzer
language : de
Publisher:
Release Date : 2019
Ring Fencing In Europe written by Konstantin Oppolzer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Bankers Without Borders Implications Of Ring Fencing For European Cross Border Banks
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Author : Ms.Anna Ilyina
language : en
Publisher: International Monetary Fund
Release Date : 2010-11-01
Bankers Without Borders Implications Of Ring Fencing For European Cross Border Banks written by Ms.Anna Ilyina and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-01 with Business & Economics categories.
This paper presents a stylized analysis of the effects of ring-fencing (i.e., different restrictions on cross-border transfers of excess profits and/or capital between a parent bank and its subsidiaries located in different jurisdictions) on cross-border banks. Using a sample of 25 large European banking groups with subsidiaries in Central, Eastern and Southern Europe (CESE), we analyze the impact of a CESE credit shock on the capital buffers needed by the sample banking groups under different forms of ring-fencing. Our simulations show that under stricter forms of ring-fencing, sample banking groups have substantially larger needs for capital buffers at the parent and/or subsidiary level than under less strict (or in the absence of any) ring-fencing.
Ring Fencing In Europe
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Author : Konstantin Oppolzer
language : en
Publisher:
Release Date : 2019
Ring Fencing In Europe written by Konstantin Oppolzer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
To Ring Fence Or Not And How Strategic Questions For Post Crisis Banking Reform In Europe
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Author : Jens-Hinrich Binder
language : en
Publisher:
Release Date : 2015
To Ring Fence Or Not And How Strategic Questions For Post Crisis Banking Reform In Europe written by Jens-Hinrich Binder and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
With the proposals of the United Kingdom's Independent Commission on Banking (now enacted in legislation), the “ring-fencing” of core banking functions and their legal and commercial insulation against the risks emanating from investment banking has attracted wide-spread attention in both academic and regulatory circles world-wide. This concept is but one emanation of a broader move towards the segregation of commercial and investment banking, which is being accomplished in the United States under the so-called “Volcker Rule” (Dodd-Frank Act, § 619), in a number of Continental European jurisdictions under national legislation since 2012, and promoted within Europe by the recommendations of the Liikanen commission and a recent draft for an EU Regulation on structural measures improving the resilience of EU credit institutions. Moreover, the term has been used to describe older regulatory strategies employed by host-country authorities in cross-border settings, which involve the segregation of local branches and subsidiaries from a multinational banking, with a view to protecting domestic creditors against the fallout from the insolvency of foreign institutions both ex ante and ex post. Against this background, the present paper promotes an integrated, functional understanding of ring-fencing in the context of banking regulation and defines some core strategic questions for future structural reform of the European banking systems.
Ring Fencing Digital Corporations
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Author : Daniel Klein
language : en
Publisher:
Release Date : 2019
Ring Fencing Digital Corporations written by Daniel Klein and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
We study the effect of digital tax measures on firm value. By employing an event study methodology, we analyze investor reaction to the European Commission's proposals on the taxation of digital corporations. Examining the stock returns of potentially affected corporations surrounding the draft directives' release, we find a significant abnormal capital market reaction of -0.692 percentage points. The investor reaction is more pronounced for firms that engage more actively in tax avoidance, have a higher profit shifting potential, and for those with higher exposure to the EU. The market value of digital and innovative corporations decreased by at least 52 billion euro in excess of the regular market movement during the event window. Overall, our study reveals that expectations about ringfencing digital tax measures impact firm values.
Ring Fencing In Europe
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Author : Konstantin Oppolzer
language : en
Publisher: Nomos Verlagsgesellschaft
Release Date : 2020-01-02
Ring Fencing In Europe written by Konstantin Oppolzer and has been published by Nomos Verlagsgesellschaft this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-02 with Banking law categories.
Bank structural reforms that stipulate the separation of retail and investment banking and that can collectively be referred to as 'ring-fencing' have been among the most controversial regulations since the financial crisis. This study explores legal developments in the European Union in this regard as well as national legislation in the United Kingdom, Germany and Switzerland. The study contributes to the terminology and classification of existing and future ring-fencing initiatives and paints a comprehensive picture of current developments and prospects on an EU level in this respect. It furthermore highlights structural differences in the national approaches of Europe's three most important financial centres, and casts light on Switzerland's unique ring-fencing efforts that have been barely recognised internationally. This study was recognised with the Austrian Award for Insolvency Law.
Financial Regulation In The European Union
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Author : Rainer Kattel
language : en
Publisher: Routledge
Release Date : 2015-10-08
Financial Regulation In The European Union written by Rainer Kattel and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-08 with Business & Economics categories.
This collection offers a comparative overview of how financial regulations have evolved in various European countries since the introduction of the single European market in 1986. It includes a number of country studies which provides a narrative of the domestic financial regulatory structure at the beginning of the period, as well the means by which the EU Directives have been introduced into domestic legislation and the impact on the financial structure of the economy. In particular, studies highlight how the discretion allowed by the Directives has been used to meet the then existing domestic conditions and financial structure as well as how they have modified that structure. Countries covered are France, Germany, Italy, Spain, Estonia, Hungary and Slovenia. The book also contains an overview of regulatory changes in the UK and Nordic countries, and in post-crisis USA. This comparative approach raises questions about whether past and more recent regulatory changes have in fact contributed to increase financial stability in the EU. The comparative analysis provided in this book raises questions on whether the past and more recent changes are contributing to increase the financial stability and efficiency of individual banks and national financial systems. The crisis has demonstrated the drawbacks of formulating the regulatory framework on standards borrowed from the best industry practices from the large developed countries, originally designed exclusively for large global banks, but now applied to all financial institutions.
Regulating Hedge Funds In The Eu
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Author : Alexandros Seretakis
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2022-01-13
Regulating Hedge Funds In The Eu written by Alexandros Seretakis 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 2022-01-13 with Law categories.
Hedge funds remain the most controversial vehicles of the alternative investment funds universe. Their opaque nature, alleged role in major crises around the world and perceived lack of investor protection have repeatedly led to calls for greater regulation. Yet despite its tremendous growth, the hedge fund industry is still shrouded in a veil of mystery largely due to the highly complex and dynamic trading strategies employed by hedge funds and the scarcity of information about them. For the first time in one comprehensive volume, this concise but thorough guide explains how hedge funds work, analyses risk, compares the European Union (EU) and United States (US) systems and proposes reforms to the European framework in order to improve its resilience. Focusing on the contribution of the hedge fund industry to systemic risk, the author elucidates the complex world of hedge funds and the legal issues linked to it. The analysis proceeds as follows: introduction to the world of hedge funds – definition, main characteristics, organizational structure, investment strategies, and benefits; deeply informed exploration of the dangers posed by hedge funds; documentation and examination of the major incidents connecting hedge funds and financial crises; rationales for regulation of hedge funds; comparison of relevant legislative developments in the US and EU; and proposals for strengthening the current EU supervisory and regulatory framework. Guiding legislation, such as the EU Alternative Investment Fund Managers Directive and the US Dodd-Frank Act, is analysed, along with topical issues such as hedge fund activism. Because the direction that hedge fund regulation takes in the future has implications for the Eurozone and systemic risk in the wider financial system, this book will be of immeasurable value to professionals in both the legal and business communities. It will be welcomed by corporate lawyers, regulatory authorities, policymakers and academics in both business-related and finance-related disciplines.
Research For Regi Committee Territorial Needs And Ring Fencing Requirements
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Author : Jacek Walendowski
language : en
Publisher:
Release Date : 2019
Research For Regi Committee Territorial Needs And Ring Fencing Requirements written by Jacek Walendowski and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
The aim of this study is to assess the implementation of EU-level ring-fencing requirements during the period 2014 to 2020, including a minimum ESF as well the thematic concentration shares. Based on different information and data collection sources, the study finds that the requirements continue to be relevant. There is evidence that the ring-fencing played a key role in ensuring a higher concentration of funding on targeted social cohesion priorities. The study also highlights variations in implementation between programmes and thematic objectives, the need for more flexibility in the implementation of programmes, and the continuing need to foster synergies between ERDF and ESF.
The Politics Of Supranational Banking Supervision In Europe
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Author : David Howarth
language : en
Publisher: Routledge
Release Date : 2019-09-19
The Politics Of Supranational Banking Supervision In Europe written by David Howarth and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-19 with Political Science categories.
Europe’s sovereign debt crisis and the accompanying national bank crises in the European Union brought bank regulation and supervision to the top of the EU policy agenda. In a few short years, we have witnessed a ‘great leap forward’ for European integration marked by over a dozen pieces of EU legislation shaping the operation of banks, rules on bank capital, reconfigured supervisory agencies, and Banking Union. The significance of these measures lies however, in the fact that they constitute the most dramatic transfer of policy-making powers to the European level since the start of Economic and Monetary Union in 1999. This volume addresses the three main political battles behind the adoption of these new regulatory and supervisory policies. First, it examines divisions among states, both according to their domestic institutional structures, including distinct financial systems, as well as their creditor or debtor status in the crisis. Second, it studies the battle over national versus supranational jurisdiction. Third, it explores the conflictual process of policy learning and the activation of epistemic communities who claim competence to address the crisis. This book was originally published as a special issue of the journal West European Politics.