Erschienen in:IMF Working Papers, Vol. , pp. 1-34, 2007
Umfang:
1 Online-Ressource (36 p)
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Nicht zu entscheiden
DOI:
10.2139/ssrn.1007922
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Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 2007 erstellt
Beschreibung:
Most financial institutions in the European Union (EU) are still based in one country, but a number of large financial institutions (LCFI) have systemic cross-border exposures. The paper explains how, despite much progress, nationally-segmented supervisory frameworks and national accountability for financial stability hinder optimization across borders of banks' operations and efficient and effective LCFI supervision. A full-fledged EU-level prudential regime that operates along-side national regimes -- a European Banking Charter (EBC) -- could harness market forces to establish a level playing field for financial sector competition, while plugging some significant gaps in Europe's financial stability framework without concentrating excessive powers