European Union countries offer a unique experience of financial regulatory and supervisory integration, complementing various other European integration efforts following the second world war. Financial regulatory and supervisory integration was a very slow process before 2008, despite...

Consolidation or fragmentation for financial regulators? This debate has gained importance since the 2007-2009 financial crisis. The financial services sector has changed considerably over the last 25 years. Financial institutions have evolved from domestic firms engaged in distinct insurance,...

This article reviews the European Securities and Markets Authority (ESMA) of the European Union. ESMA performed a role in the regulation and supervision of the securities market. ESMA was created to supervise the financial system to enhance financial markets. In crisis management, ESMA focused...

This article reviews the European Systematic Risk Board (ESRB), its role, approach, outputs, and effects in the European Union. The ESRB is the reason for macroprudential oversight of financial systems. Macroprudential policy is used to identify and reduce financial risks and limit financial...

The analysis focuses on the effectiveness of the regulatory, supervisory, and oversight frameworks for central counterparties (CCPs) and central securities depositories (CSDs) in the European Union (EU) as these are essential for financial stability. Cooperation between authorities within and...

This Handbook aims to assist macroprudential authorities in the European Union (EU) to operationalise instruments set out in the prudential rules for the EU banking sector. While some of the rules - commonly referred to as the Capital Requirements Directive (CRD IV) and the Capital Requirements...