Description
Book SynopsisAnalyzing ongoing changes in the design of regulatory and supervisory authorities over the banking and financial industry in Europe, this comprehensive
Handbook pays particular attention to the role of national central banks, the new financial supervisory authorities and the European Central Bank (ECB). The contributors, all experts in their fields, begin by presenting the current situation in Europe, focusing on the role of the central banks, before going on to illustrate the supervisory architecture reforms of the late 1990s. The
Handbook also highlights the emerging role of new integrated financial authorities through an analysis of different national case studies. This new original reference book concludes with a review of the various options now available for the design of supervisory architecture at the European level, considering also the possible involvement of the ECB.
The Handbook tackles a number of controversial issues including:
- why financial supervision architecture is important and why the issue has arisen at the present time
- the roles of national central banks and national policymakers in alternative financial supervisory structures
- the advantages and potential hazards of single financial authorities unified or integrated agencies.
This essential Handbook is a major multidisciplinary work and will be of great value to scholars and academics - principally in economics, finance and European studies but also politics and law - as well as regulators and supervisory institutions.
Trade Review'Everyone involved with financial regulation and supervision should have already read this book which offers not only a thorough overview of where Europe stands but also gives a dynamic approach of how and why Europe has been - and will be - shifting towards a more unified financial authority. . . Masciandaro has edited a Handbook
on a very topical subject that will indeed in the near future give rise to many challenging debates in the European Union. The papers gathered offer a complete view of the benefits and drawbacks of the different existing and potential structures of financial regulation and supervision agencies. Including the specific experience of ten countries gives a practical/empirical dimension and reduces the "home bias" knowledge of many economists!' -- Catherine Lubochinsky, SUERF Newsletter
Table of ContentsContents: Foreword by Charles Goodhart Introduction by Mario Monti Part I: Central Banks and Financial Supervision 1. Central Banks as Monetary Authorities and Financial Stability Alicia García Herrero and Pedro del Río 2. The Role of Central Banks in Fostering Financial Stability Sander Oosterloo and Jakob de Haan 3. Central Banks and Single Financial Authorities: Economics, Politics and Law Donato Masciandaro Part II: The Emerging Role of Single Financial Authorities 4. Integrated Agencies and the Role of Central Banks David T. Llewellyn 5. United Kingdom Andrew Sykes and Terry Allen 6. Austria Andreas Grünbichler 7. Denmark Henrik Bjerre-Nielsen 8. Sweden Ingrid Bonde 9. Norway Bjørn Skogstad Aamo 10. Estonia Lelo Liive 11. Hungary László Balogh 12. Germany Martin Schüler 13. The Netherlands Henriëtte Prast and Iman Van Lelyveld 14. Ireland Jonathan Westrup Part III: What Role for Central Banks and Single Financial Authorities? 15. The International Network of Financial Authorities Nina Moss 16. Central Banks and Financial Authorities in Europe: What Prospects? Dirk Schoenmaker 17. The European Central Bank and Financial Supervision Sylvester C.W. Eijffinger 18. The Transformation of Financial Regulation and Supervision in the EU Karel Lannoo 19. The Role of the Central Bank in Financial Supervision: The Case of Italy Alessio De Vincenzo and Paolo Marullo Reedtz Index
