Integration of the Securities Market Infrastructure in the European Union : : Policy and Regulatory Issues / / Elias Kazarian

• Autore: Kazarian Elias
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2006
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (29 p.)
• Soggetto topico: Securities industry - European Union countries; Securities - European Union countries; Banking; Capacity; Capital market; Capital; Clearing and settlement systems; Clearing of securities; Clearinghouses; Finance; Finance: General; Financial Instruments; Financial instruments; General Financial Markets: General (includes Measurement and Data); Infrastructure; Institutional Investors; Intangible Capital; Investment & securities; Investment; Investments: General; Macroeconomics; Non-bank Financial Institutions; Pension Funds; Saving and investment; Securities markets; Securities settlement systems; Securities
• Soggetto geografico: United Kingdom
• Note generali: "October 2006."
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: ""Contents""; ""I. INTRODUCTION""; ""II. MAIN COMPONENTS OF SECURITIES MARKET INFRASTRUCTURE""; ""III. MAIN ECONOMIC FEATURES""; ""IV. INTEGRATION OF THE SECURITIES MARKET INFRASTRUCTURE IN EUROPE""; ""V. IMPACT OF INFRASTRUCTURE CONSOLIDATION""; ""VI. REGULATORY AND SUPERVISORY RESPONSE""; ""VII. AN ALTERNATIVE APPROACH: A TWO-TIER REGULATORY FRAMEWORK""; ""REFERENCE""
• Sommario/riassunto: This paper examines the impact of ongoing cross-border integration of securities market infrastructure in the European Union. In particular, it analyzes the regulatory framework that has evolved to deal with the risks associated with cross-border clearing and settlement and concludes that, due to institutionalized deficiencies, the current cross-border regulatory framework may not be adequate or effective in addressing and preventing a real cross-border crisis. The paper proposes a two-tier regulatory framework for securities infrastructure in Europe entailing the creation of a centralized "federal" European regulatory framework for regional systems, in addition to the current national regulatory framework for domestic systems.
• Titolo autorizzato: Integration of the Securities Market Infrastructure in the European Union
• ISBN: 9786613821614; 9781462325580; 1462325580; 9781452724911; 1452724911; 9781282448421; 1282448420; 9781451909548; 1451909543
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910956794403321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2006/241