The Role Of Financial Stability In Eu Law And Policy
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The Role Of Financial Stability In Eu Law And Policy
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Author : Gianni Lo Schiavo
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2016-04-24
The Role Of Financial Stability In Eu Law And Policy written by Gianni Lo Schiavo 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 2016-04-24 with Law categories.
Since the outbreak of the 2008 financial crisis, European Union (EU) institutions and Member States have engaged in a major effort to repair the architecture of economic governance of the European Economic and Monetary Union (EMU). This book takes as its starting point the unclear notion of financial stability, which only recently has received a more detailed legal analysis. It examines the evolution of the concept of financial stability during the financial crisis and provides a conceptual framework in order to demonstrate that financial stability has become a foundational objective in Europe and has set a new normative framework in EU law and policy. Arguing that financial stability is a foundational objective in EU law and policy based on certain normative instruments, this ground-breaking book provides an in-depth and original understanding of the newly developed framework to attain supranational financial stability. In its analysis of the legal implications of these new instruments, the study examines topics and issues such as the following: - the concept and normative instruments of financial stability at European level; - the renewed economic governance in Europe; - the financial assistance mechanisms developed in Europe; - the new regulatory environment for banks at European level; - the Single Supervisory Mechanism and the role of the European Central Bank (ECB) therein; and - the new framework for banking resolution, with specific focus on the Single Resolution Mechanism. The author shows in detail how an appropriate level of supranational regulation, supervision, burden-sharing and rescue measures strengthen financial stability. Thereby, the book will appeal to officials in EU institutions and agencies as well as lawyers and academics in EU law and in banking/financial law to gain a clear understanding of role of financial stability and its normative instruments in EU law and policy. Gianni Lo Schiavo is currently working as a lawyer at the ECB. He obtained a PhD in EU Law at King's College, London, and has written numerous articles and chapters in EU administrative law, EU financial/banking law and EU competition law.
European Central Banking Law
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Author : Christos V. Gortsos
language : en
Publisher: Springer Nature
Release Date : 2020-02-14
European Central Banking Law written by Christos V. Gortsos and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-14 with Business & Economics categories.
This book provides a comprehensive overview of European Union (EU) central banking law, a field of EU economic law which emerged in the late 1990s and has developed rapidly ever since. European central banking law pertains to the rules governing the functions, operation, tasks and powers of the European Central Bank (ECB) and the national central banks (NCBs) of EU Member States. Systematically presenting and analysing the role of the ECB as a monetary and banking supervisory authority, the book discusses its changing and developing responsibilities following the financial crisis of 2007-2009 and the ongoing fiscal crisis in the euro area. The book also highlights the ECB’s significant role in relation to the resolution of credit institutions, as well as, conversely, its relatively limited role in respect of last-resort lending to EU credit institutions exposed to liquidity risk. The related tasks and powers of the ECB are presented in light of its interaction with NCBs within the Eurosystem, the European System of Financial Supervision, the Single Supervisory System and the Single Resolution Mechanism. Providing a detailed analysis of the legal framework governing (mainly) the ECB’s monetary policy and other basic tasks within the Eurosystem and its specific tasks in relation to banking supervision and macro-prudential financial oversight, this comprehensive book will be of interest to researchers, practitioners and students in the fields of EU monetary and banking law.
The Euro Crisis And Constitutional Pluralism
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Author : Tomi Tuominen
language : en
Publisher: Edward Elgar Publishing
Release Date : 2021-06-25
The Euro Crisis And Constitutional Pluralism written by Tomi Tuominen and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-25 with Law categories.
This insightful book assesses the theory of constitutional pluralism in light of the events of the Eurozone crisis of the past decade. Based on an analysis of how national courts reviewed the crisis response mechanisms and participated in the European-level political process, Tomi Tuominen argues that constitutional pluralism is not a valid normative theory of European constitutionalism.
Brexit And Financial Services
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Author : Kern Alexander
language : en
Publisher: Bloomsbury Publishing
Release Date : 2018-01-11
Brexit And Financial Services written by Kern Alexander and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-11 with Law categories.
This timely book examines the legal and regulatory implications of Brexit for financial services. The UK's withdrawal from the EU is likely to have significant market, political, and policy consequences for the UK financial system, for the single market and the euro area, and for the international financial system. As the UK disentangles its financial system from the EU, law will matter to a profound extent. Treaties, legislation, and regulation, at UK, EU, and international levels, and the many dynamics and interests which drive them, will frame and shape the ultimate settlement between the UK and the EU. Law will also shape how the EU financial system develops post-Brexit and how the international financial system responds. Written by leading authorities in the field, this book addresses and contextualises the legal, regulatory, and policy issues across five dimensions, which correspond to the major legal spheres engaged: financial regulation implications and market access consequences for the UK financial system; labour law and free movement consequences for the UK financial system; the implications internally for EU financial governance and the euro area; the implications and relevance of the EEA/EFTA financial services market; and the trade law and World Trade Organization law implications.
Financial Regulation At The Crossroads
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Author : Panagiotis Delimatsis
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2011-04-01
Financial Regulation At The Crossroads written by Panagiotis Delimatsis 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 2011-04-01 with Law categories.
This book brings outstanding expertise and provides insightful perspectives from nineteen authors with diverse backgrounds, including officials from international organizations, national regulators, and commercial banking, as well as academics in law, economics, political economy, and finance. The authors not only shed light on the causes of the financial turmoil, but also present thoughtful proposals that contribute to the future policy debate, and discuss opportunities that financial services can offer in funding activities which raise standards of living through initiatives in microfinance, renewable energy, and food distribution. The contributions to this volume tackle several of the thorniest issues of financial regulation in a post-crisis environment, such as: the mechanics of contagion within the financial system and the role of liquidity; moral hazard when large financial institutions are no longer subject to the disciplinary effects of bankruptcy; bank capital requirements; management compensation; design of bank resolution schemes; a function-centric versus institution-centric regulatory approach; subsidization and compatibility of stimulus packages with EU rules on state aid; trade finance and the role of the GATS prudential carve-out; and the role of financial services in promoting human rights or combating climate change.
Eu Law Of Economic Monetary Union
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Author : Fabian Amtenbrink
language : en
Publisher: Oxford University Press
Release Date : 2020-05-21
Eu Law Of Economic Monetary Union written by Fabian Amtenbrink 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 2020-05-21 with Law categories.
Presenting a sweeping analysis of the legal foundations, institutions, and substantive legal issues in EU monetary integration, The EU Law of Economic and Monetary Union serves as an authoritative reference on the legal framework of European economic and monetary union. The book opens by setting out the broader contexts for the European project - historical, economic, political, and regarding the international framework. It goes on to examine the constitutional architecture of EMU; the main institutions and their legal powers; the core legal provisions of monetary and economic union; and the relationship of EMU with EU financial market and banking regulation. The concluding section analyses the current EMU crisis and the main avenues of future reform.
The Eu Law Of Economic And Monetary Union
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Author : Fabian Amtenbrink
language : en
Publisher: Oxford University Press, USA
Release Date : 2020
The Eu Law Of Economic And Monetary Union written by Fabian Amtenbrink and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Business & Economics categories.
An authoritative reference work on the legal framework of European economic and monetary union, this book comprehensively analyses the legal foundations, institutions, and substantive legal issues in EU monetary integration.
Banking And Financial Stability In Central Europe
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Author : David Green
language : en
Publisher: Edward Elgar Publishing
Release Date : 2002-04-26
Banking And Financial Stability In Central Europe written by David Green and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-04-26 with Business & Economics categories.
'...this book would be suited to lawyers and non-lawyers alike. In addition, it provides an interesting look at the EU banking system and the systems of Central and Eastern European countries.' - Ellie Palmer, Journal of International Banking Law and Regulation The eastwards expansion of the European Union is one of the most explosive economic and political issues of the early 21st century. Economic and financial stability combined with rising prosperity in the applicant countries are increasingly seen as necessary preconditions for European Union membership. This authoritative volume, written by scholars and practitioners from Central and Western Europe and the United States, confronts the issues involved in three of the countries most likely to be successful applicants to the EU - the Czech Republic, Hungary and Slovenia. A spotlight is turned on the banking and financial industries, as they are crucial to the achievement of economic stability. The blend of expertise deployed, which draws on in-depth knowledge and extensive experience in central banking, financial and commercial law, business, practical policy making and economic analysis, ensures that this book is timely, relevant and insightful. The authors suggest that the role of the state in both creating and maintaining an effective financial sector is central. Furthermore, they argue that well-regulated commercial banks and strategic foreign investors are a must as, in practice, the attempt to skip straight to modern capital markets has been ruinous. This accessibly written volume will be of interest to students and scholars of economics, finance, law, political science, the sociology of economic life and European studies.
The Foundations And Future Of Financial Regulation
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Author : Mads Andenas
language : en
Publisher: Routledge
Release Date : 2013-11-20
The Foundations And Future Of Financial Regulation written by Mads Andenas and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-20 with Law categories.
Financial regulation has entered into a new era, as many foundational economic theories and policies supporting the existing infrastructure have been and are being questioned following the financial crisis. Goodhart et al’s seminal monograph "Financial Regulation: Why, How and Where Now?" (Routledge:1998) took stock of the extent of financial innovation and the maturity of the financial services industry at that time, and mapped out a new regulatory roadmap. This book offers a timely exploration of the "Why, How and Where Now" of financial regulation in the aftermath of the crisis in order to map out the future trajectory of financial regulation in an age where financial stability is being emphasised as a key regulatory objective. The book is split into four sections: the objectives and regulatory landscape of financial regulation; the regulatory regime for investor protection; the regulatory regime for financial institutional safety and soundness; and macro-prudential regulation. The discussion ranges from theoretical and policy perspectives to comprehensive and critical consideration of financial regulation in the specifics. The focus of the book is on the substantive regulation of the UK and the EU, as critical examination is made of the unravelling and the future of financial regulation with comparative insights offered where relevant especially from the US. Running throughout the book is consideration of the relationship between financial regulation, financial stability and the responsibility of various actors in governance. This book offers an important contribution to continuing reflections on the role of financial regulation, market discipline and corporate responsibility in the financial sector, and upon the roles of regulatory authorities, markets and firms in ensuring the financial health and security of all in the future.
Financial Regulation And Supervision
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Author : Eddy Wymeersch
language : en
Publisher: OUP Oxford
Release Date : 2012-08-16
Financial Regulation And Supervision written by Eddy Wymeersch and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-16 with Law categories.
This comprehensive account of financial regulation and supervision in times of crisis analyses the complex changes under way regarding the new financial regulatory structures in the EU. Focusing on the organisation of financial supervision, it deals with the background to the reforms, the architecture of the regulatory system, the likely implications for the financial institutions and the challenge of international co-operation. Changes in the US have been heavily criticised and in Europe a brand new regulatory system with three new regulatory agencies and a systemic risk board has been developed. National systems are in the process of being updated. International cooperation, although still difficult, has made progress, with the Financial Stability Board now acting on behalf of the G.20. Central bank cooperation has improved significantly and in the meantime, sectoral regulations are being adapted in full speed, such as Basel III, AIDMD, MiFID and many others. This book gives an overall view of these complex changes. The first section of the book provides an assessment of the reforms and considers the background to their making. In the section on regulatory structure there is analysis of the new regulatory bodies, their complex competences and actions. The book also takes a critical look at their likely effectiveness. The final section of the work considers the actual implementation of the new rules in a cross-border context.