CRISIS IMPACT ON THE EUROPEAN BANKING REGULATORY AND SUPERVISORY FRAMEWORK. A MACRO-PRUDENTIAL APPROACH*

The current financial crisis has reopened debate on the need to improve the regulatory and supervisory framework, both internationally and throughout Europe and led to calls for action from the authorities, aimed, on one hand, to strengthen supervision on financial institutions and, on the other hand, to limit the spread of systemic risk. This study examines, therefore, changes that will occur in the regulatory and supervisory framework and argues the importance accorded to the macro-prudential approach in reforming it.