Consumer insolvency is a topic that has gained much prominence in the context of the financial crisis on both sides of the Atlantic. The number of bankruptcy filings has soared in recent years, and is not expected to go down in the near future.This CEPS Working Document explains the consumer...

During the financial crisis, 114 European banks benefited from government support in Europe. We investigate the financial condition of banks before and after receiving state support using logit regressions. Our results indicate that the equity ratio, loan quality and bank size are the main...

The call for a Capital Markets Union has been a useful device to raise awareness about the need for more integration in Europe's capital markets. Despite years of harmonising regulation and a single currency, Europe's capital markets remain fragmented. This Policy Brief calls for targeted...

Europe's 2020 strategy calls for “smart, sustainable and inclusive growth,” but ironically, these qualities are just the opposite of what the financial sector has stood for in the EU, and how it continues to be perceived by the public. According to CEPS Chief Executive Karel Lannoo, the huge...

Despite having singled out credit rating agencies (CRAs) early on in the financial crisis as needing more regulation, policy-makers in the EU seem not to be reassured by the measures that have been adopted in the meantime, and want to go further. This paper starts with an overview of the credit...

After more than a decade of indecision, the EU is finally now set to implement a consistent regulatory architecture for clearing and settlement. Following the agreement on a European market infrastructure Regulation (EMIR), the European Commission has proposed harmonized rules for centralized...