LEADER 06464oam 22012254 450 001 9910788331703321 005 20230721045727.0 010 $a1-4623-0834-1 010 $a1-4527-2080-0 010 $a1-282-84356-7 010 $a9786612843563 010 $a1-4518-7289-5 035 $a(CKB)3170000000055298 035 $a(EBL)1608359 035 $a(SSID)ssj0000940735 035 $a(PQKBManifestationID)11600653 035 $a(PQKBTitleCode)TC0000940735 035 $a(PQKBWorkID)10956003 035 $a(PQKB)11486915 035 $a(OCoLC)712987862 035 $a(MiAaPQ)EBC1608359 035 $a(IMF)WPIEE2009142 035 $a(EXLCZ)993170000000055298 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aWill they Sing the Same Tune? Measuring Convergence in the new European System of Financial Supervisors /$fMarc Quintyn, Donato Masciandaro, Marķa Nieto 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (45 p.) 225 1 $aIMF Working Papers 300 $a"July 2009". 311 $a1-4519-1718-X 320 $aIncludes bibliographical references. 327 $aContents; 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 Regimes 327 $a5 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 Bank 327 $a14A: 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 Stability 330 3 $aIn June 2009 a new financial supervisory framework for the European Union (EU) was endorsed, consisting of a macro- and a micro-prudential pillar. The latter is composed of a Steering Committee, a supranational layer and a network of national supervisory authorities at the bottom, de facto establishing a complex multiple principals-multiple agents network. This paper focuses on the network of national agencies. Starting from an analysis of supervisory architectures and governance arrangements, we assess to what extent lack of convergence could undermine efficient and effective supervision. The main conclusion is that harmonization of governance arrangements towards best practice would better align supervisors' incentive structures and, hence, be beneficial for the quality of supervision. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/142 606 $aFinance$xState supervision 606 $aBanks and banking, Central$xState supervision 606 $aBanks and Banking$2imf 606 $aFinancial Risk Management$2imf 606 $aPublic Finance$2imf 606 $aBusiness and Financial$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aFinancial Institutions and Services: Government Policy and Regulation$2imf 606 $aTaxation, Subsidies, and Revenue: General$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aFinancial Crises$2imf 606 $aBanking$2imf 606 $aFinancial services law & regulation$2imf 606 $aPublic finance & taxation$2imf 606 $aEconomic & financial crises & disasters$2imf 606 $aBank supervision$2imf 606 $aLegal support in revenue administration$2imf 606 $aFinancial regulation and supervision$2imf 606 $aFinancial crises$2imf 606 $aBanks and banking$2imf 606 $aState supervision$2imf 606 $aRevenue$2imf 606 $aFinancial services industry$2imf 606 $aLaw and legislation$2imf 607 $aIreland$2imf 615 0$aFinance$xState supervision. 615 0$aBanks and banking, Central$xState supervision. 615 7$aBanks and Banking 615 7$aFinancial Risk Management 615 7$aPublic Finance 615 7$aBusiness and Financial 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aFinancial Institutions and Services: Government Policy and Regulation 615 7$aTaxation, Subsidies, and Revenue: General 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aFinancial Crises 615 7$aBanking 615 7$aFinancial services law & regulation 615 7$aPublic finance & taxation 615 7$aEconomic & financial crises & disasters 615 7$aBank supervision 615 7$aLegal support in revenue administration 615 7$aFinancial regulation and supervision 615 7$aFinancial crises 615 7$aBanks and banking 615 7$aState supervision 615 7$aRevenue 615 7$aFinancial services industry 615 7$aLaw and legislation 700 $aQuintyn$b Marc$0247373 701 $aMasciandaro$b Donato$089517 701 $aNieto$b Marķa$01472661 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788331703321 996 $aWill they Sing the Same Tune? Measuring Convergence in the new European System of Financial Supervisors$93685522 997 $aUNINA