Naslov
Europe's Regulatory Reform After the Crisis - A Macroprudential Perspective

Autori
Božina Beroš, Marta

Izvornik
The Columbia journal of European law (1076-6715) 16 (2010);

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, ostalo

Ključne riječi
financial regulation; macroprudential regulation; EU

Sažetak
The recent economic and financial crisis has highlighted the need for significant changes to European financial regulation and its regulatory counterpart: supervision. Significant build-ups of leverage and liquidity mismatches accumulated across national financial systems that preceded the crisis left the European financial system highly vulnerable to adverse changes in the market environment and sowed the seeds of the present macroeconomic and regulatory problems. Consequently, the inefficiency of the traditional microprudential level of regulation to safeguard the soundness of the financial system as a whole has become more than evident. At the same time, the crisis prompted the old coordination/centralization debate regarding supervision. Against this background, consensus has been growing that the founding principles as well as the efficiency and effectiveness of E.U. financial regulation and supervision need to be reassessed.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija, Pravo

POVEZANOST RADA