The Administrative Architecture of Financial Integration
Institutional Design, Legal Issues, Perspectives
Pubb. online: 2016
Isbn ed.dig.: 978-88-15-32669-0
DOI: 10.978.8815/326690
Isbn ed.dig.: 978-88-15-32669-0
DOI: 10.978.8815/326690
Indice
- Edoardo Chiti and Giulio Vesperini Introduction
- PART ONE. FUNCTIONS: REGULATION, SUPERVISION, RESOLUTION
- Enrico Leonardo Camilli The Governance of EU Regulatory Powers in the Banking Sector
- 1. Introduction
- 2. European harmonisation between market liberalisation and market building
- 3. The systematic approach of the 2010 financial architecture
- 4. The SSM: between harmonisation and integration of national prudential supervision
- 5. Concluding remarks
- Maurizia De Bellis European Financial Supervision after the Crisis: Multi-Speed Models within a Two-Track Framework
- 1. The financial crisis and EU financial supervision
- 2. The ESFS, the EBU and the patchwork of supervisory competences
- 3. Centralization, integration and cooperation
- 4. (Revised) independence
- 5. (Enhanced) accountability
- 6. Financial supervision: a «variable geometry» concept
- Giuseppe Sciascia Recovery and Resolution in the EU: Devising a European Framework
- 1. Introduction
- 2. The features of bank recovery and resolution
- 3. The building-up of an EU recovery and resolution mechanism
- 4. Conclusions
- PART TWO. WAYS OF FUNCTIONING: INTEGRATION, COORDINATION, CONFLICTS, ACTORS
- Fabio Giglioni The European Banking Union as a New Model of Administrative Integration?
- 1. Preliminary remarks
- 2. The Single Supervisory Mechanism pillar
- 3. The Single Resolution Mechanism pillar
- 4. The EBU and administrative integration
- 5. The effectiveness of the new financial governance
- 6. Perspectives
- Marco Pacini The Way to the Banking Union and Beyond: Past, Present and Future Role of Coordination in Financial Supervision
- 1. Coordination in the age of administrative integration in financial supervision
- 2. Why is coordination-as-an-outcome so much important in financial supervision?
- 3. Does coordination-as-a-process still play a role in financial supervision?
-
4. Where is
coordination-as-a-process at work in financial supervision and how is it structured?
- 4.1. Obligations to cooperate and to coordinate action
- 4.2. Administrative procedures promoting coordination
- 4.3. Group-level supervisors
- 4.4. Coordinating role of the ESAs
- 4.5. Colleges of supervisors
- 4.6. Coordinating role of joint supervisory teams
- 4.7. Institutional ties among competent authorities
- 4.8. Joint committee of European supervisory authorities
- 5. How is coordination in financial supervision concretely functioning?
- 6. Conclusions
- 7. Perspectives
- Andrea Magliari The Implications of the Single Supervisory Mechanism on the European System of Financial Supervision. The Impact of the Banking Union on the Single Market
- 1. The SSM and other EU financial regulatory and supervisory bodies: a multilayered framework
- 2. From maximum harmonisation to the centralization of the supervisory function in the banking sector
- 3. Micro-prudential supervision: the cohabitation of the EBA with the ECB
- 4. Macro-prudential supervision: the ESRB and the ECB
- 5. Institutional implications
- 6. Towards two models of EBU within a two-speed EU?
- Giuseppe Sciascia Credit Rating Agencies in the Context of EU Regulation of Financial Markets: Developments, Standards, Public Functions
- 1. Introduction
- 2. The development of the rating industry
- 3. CRAs as polyfunctional gatekeepers
- 4. The European regulatory approach
- 5. The liability regime
- 6. Conclusions
- Caroline Lequesne-Roth and Arnaud van Waeyenberge Foundations and Perspectives of the Rating Agencies’ Regulatory Framework in the European Union
- 1. Introduction
- 2. In the footsteps of the a merican model of regulation
- 3. Birth of the EU model of regulation
- 4. Conclusions
- Dalit Flaiszhaker A Macroprudential Perspective on the EU Regulation of Money Market Funds
- 1. Introduction
- 2. MMFs, the crisis and the regulator
- 3. MMFs and banks
- 4. Similar risks, different regulatory frameworks: estimated outcomes
- 5. Conclusions