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The Dodd-Frank Act, enacted after the global financial crisis, requires U.S. financial regulators to define and regulate systemically risky firms and activities — a truly Sisyphean task. In this Essay, we identify two paths regulators have taken: a “descriptive approach,” which involves...
Persistent link: https://www.econbiz.de/10013011346
The EU recently established new supranational financial supervision authorities — ESAs — capable of adopting binding supervisory decisions. The upgraded regulatory framework also inaugurated judicial review by a newly established Board of Appeal and the Court of Justice against these...
Persistent link: https://www.econbiz.de/10013096057
Using a sample from 38 economies, we examine the relation between bank regulators’ supervisory power and loan spreads. We find that loans issued by banks in economies with more powerful supervisors have higher spreads. The positive association is more pronounced when firms have lower credit...
Persistent link: https://www.econbiz.de/10013239908
This paper describes how behavioral elements are relevant to financial supervision,regulation, and central banking. It …
Persistent link: https://www.econbiz.de/10012912488
-level sources of risk are much easier for corporate governance and regulation to address than risk arising at the systemic level … limited role in the regulation of systemic risk and then relates this discussion to the current state of affairs in the …
Persistent link: https://www.econbiz.de/10014180082
This essay was published as part of a law review symposium that evaluated my work on theregulation of large, complex financial institutions. Part I of my essay discusses the other articlespublished in the symposium issue and describes their relationship to my own work. Part IIanalyzes the global...
Persistent link: https://www.econbiz.de/10014082587
The aim of this paper is to provide an analysis of the power of the ECB to impose administrative penalties as a supervisory authority within the context of the ‘Single Supervisory Mechanism', which is a major building block of the European Banking Union. It is structured in three (3) sections....
Persistent link: https://www.econbiz.de/10013022679
done subsequently. This study analyses the legal nature of normative regulation related to macroprudential policy, the …
Persistent link: https://www.econbiz.de/10012982304
Bank regulation used to be riddled with price, product, entry, and location restrictions. These restrictions were … regulation as the product of pure rent seeking by private industry.This Article revisits the role of such restrictions on …, political, and economic (LPE) model for how limits on competition could usefully complement current bank regulation. This model …
Persistent link: https://www.econbiz.de/10012918941
Persistent link: https://www.econbiz.de/10013140086