06714oam 22013334 450 991097382930332120250426110645.0978661284356397814623083471462308341978145272080714527208009781282843561128284356797814518728971451872895(CKB)3170000000055298(EBL)1608359(SSID)ssj0000940735(PQKBManifestationID)11600653(PQKBTitleCode)TC0000940735(PQKBWorkID)10956003(PQKB)11486915(OCoLC)712987862(IMF)WPIEE2009142(MiAaPQ)EBC1608359(IMF)WPIEA2009142WPIEA2009142(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 Nieto1st ed.Washington, D.C. :International Monetary Fund,2009.1 online resource (45 p.)IMF Working Papers"July 2009".9781451917185 145191718X 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 supervisionBank supervisionimfBankingimfBanks and BankingimfBanks and bankingimfBanksimfBusiness and FinancialimfDepository InstitutionsimfEconomic & financial crises & disastersimfFinancial CrisesimfFinancial crisesimfFinancial Institutions and Services: Government Policy and RegulationimfFinancial regulation and supervisionimfFinancial Risk ManagementimfFinancial services industryimfFinancial services law & regulationimfGeneral Financial Markets: Government Policy and RegulationimfLaw and legislationimfLegal support in revenue administrationimfMicro Finance InstitutionsimfMortgagesimfPublic finance & taxationimfPublic FinanceimfRevenueimfState supervisionimfTaxation, Subsidies, and Revenue: GeneralimfIrelandimfFinanceState supervision.Banks and banking, CentralState supervision.Bank supervisionBankingBanks and BankingBanks and bankingBanksBusiness and FinancialDepository InstitutionsEconomic & financial crises & disastersFinancial CrisesFinancial crisesFinancial Institutions and Services: Government Policy and RegulationFinancial regulation and supervisionFinancial Risk ManagementFinancial services industryFinancial services law & regulationGeneral Financial Markets: Government Policy and RegulationLaw and legislationLegal support in revenue administrationMicro Finance InstitutionsMortgagesPublic finance & taxationPublic FinanceRevenueState supervisionTaxation, Subsidies, and Revenue: General332.1;332.1068Quintyn Marc247373Masciandaro Donato89517Nieto María1816015International Monetary Fund.DcWaIMFBOOK9910973829303321Will they Sing the Same Tune? Measuring Convergence in the new European System of Financial Supervisors4371658UNINA