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Will they Sing the Same Tune? Measuring Convergence in the new European System of Financial Supervisors / / Marc Quintyn, Donato Masciandaro, María Nieto



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Autore: Quintyn Marc Visualizza persona
Titolo: Will they Sing the Same Tune? Measuring Convergence in the new European System of Financial Supervisors / / Marc Quintyn, Donato Masciandaro, María Nieto Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
Descrizione fisica: 1 online resource (45 p.)
Soggetto topico: Finance - State supervision
Banks and banking, Central - State supervision
Banks and Banking
Financial Risk Management
Public Finance
Business and Financial
Banks
Depository Institutions
Micro Finance Institutions
Mortgages
Financial Institutions and Services: Government Policy and Regulation
Taxation, Subsidies, and Revenue: General
General Financial Markets: Government Policy and Regulation
Financial Crises
Banking
Financial services law & regulation
Public finance & taxation
Economic & financial crises & disasters
Bank supervision
Legal support in revenue administration
Financial regulation and supervision
Financial crises
Banks and banking
State supervision
Revenue
Financial services industry
Law and legislation
Soggetto geografico: Ireland
Altri autori: MasciandaroDonato  
NietoMaría  
Note generali: "July 2009".
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: 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 Regimes
5 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
14A: 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
Sommario/riassunto: In 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.
Titolo autorizzato: Will they Sing the Same Tune? Measuring Convergence in the new European System of Financial Supervisors  Visualizza cluster
ISBN: 1-4623-0834-1
1-4527-2080-0
1-282-84356-7
9786612843563
1-4518-7289-5
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910788331703321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2009/142