06464oam 22012254 450 991078833170332120230721045727.01-4623-0834-11-4527-2080-01-282-84356-797866128435631-4518-7289-5(CKB)3170000000055298(EBL)1608359(SSID)ssj0000940735(PQKBManifestationID)11600653(PQKBTitleCode)TC0000940735(PQKBWorkID)10956003(PQKB)11486915(OCoLC)712987862(MiAaPQ)EBC1608359(IMF)WPIEE2009142(EXLCZ)99317000000005529820020129d2009 uf 0engur|n|---|||||txtccrWill they Sing the Same Tune? Measuring Convergence in the new European System of Financial Supervisors /Marc Quintyn, Donato Masciandaro, María NietoWashington, D.C. :International Monetary Fund,2009.1 online resource (45 p.)IMF Working Papers"July 2009".1-4519-1718-X Includes bibliographical references.Contents; I. Introduction; II. A European Supervisory Structure is Born; III. Review of Supervisory Architectures; A. Closer analysis of the EU supervisory landscape; B. Potential policy implications of polarization; IV. Convergence in Supervisory Governance; A. Measuring Independence; B. Measuring Accountability; C. Is There Governance Convergence Within the EU?; V. Conclusions and Policy Considerations; References; Figures; 1 Financial Supervisory Regimes: number of reforms per year (1998-2008); 2 FSU Index distribution; 3 CBFA Index distribution; 4 Financial Supervision Regimes5 Institutional Independence: Cross-country convergence6 Regulatory & Supervisory Independence: Cross-country convergence; 7 Budgetary independence: Cross-country convergence; 8 Political accountability: Cross-country convergence; 9 Judiciary accountability: Cross-country convergence; 10 Transparency: Cross-country convergence; 11 Total independence: Cross-country convergence; 12 Overall accountability Cross-country convergence; 13 Independence and Accountability: scatter-plot; 14 Independence and Accountability inside and outside the Central Bank14A: Independence Indices inside and outside the Central Bank14B: Accountability Indices inside and outside the Central Bank; Tables; 1. The Institutional Indicators; 2. Independence Criteria; 3. Accountability Criteria; Annexes; Annex - The European Framework for Safeguarding Financial StabilityIn June 2009 a new financial supervisory framework for the European Union (EU) was endorsed, consisting of a macro- and a micro-prudential pillar. The latter is composed of a Steering Committee, a supranational layer and a network of national supervisory authorities at the bottom, de facto establishing a complex multiple principals-multiple agents network. This paper focuses on the network of national agencies. Starting from an analysis of supervisory architectures and governance arrangements, we assess to what extent lack of convergence could undermine efficient and effective supervision. The main conclusion is that harmonization of governance arrangements towards best practice would better align supervisors' incentive structures and, hence, be beneficial for the quality of supervision.IMF Working Papers; Working Paper ;No. 2009/142FinanceState supervisionBanks and banking, CentralState supervisionBanks and BankingimfFinancial Risk ManagementimfPublic FinanceimfBusiness and FinancialimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfFinancial Institutions and Services: Government Policy and RegulationimfTaxation, Subsidies, and Revenue: GeneralimfGeneral Financial Markets: Government Policy and RegulationimfFinancial CrisesimfBankingimfFinancial services law & regulationimfPublic finance & taxationimfEconomic & financial crises & disastersimfBank supervisionimfLegal support in revenue administrationimfFinancial regulation and supervisionimfFinancial crisesimfBanks and bankingimfState supervisionimfRevenueimfFinancial services industryimfLaw and legislationimfIrelandimfFinanceState supervision.Banks and banking, CentralState supervision.Banks and BankingFinancial Risk ManagementPublic FinanceBusiness and FinancialBanksDepository InstitutionsMicro Finance InstitutionsMortgagesFinancial Institutions and Services: Government Policy and RegulationTaxation, Subsidies, and Revenue: GeneralGeneral Financial Markets: Government Policy and RegulationFinancial CrisesBankingFinancial services law & regulationPublic finance & taxationEconomic & financial crises & disastersBank supervisionLegal support in revenue administrationFinancial regulation and supervisionFinancial crisesBanks and bankingState supervisionRevenueFinancial services industryLaw and legislationQuintyn Marc247373Masciandaro Donato89517Nieto María1472661International Monetary Fund.DcWaIMFBOOK9910788331703321Will they Sing the Same Tune? Measuring Convergence in the new European System of Financial Supervisors3685522UNINA