European Parliament Library

Central banks and supervisory architecture in Europe, lessons from crises in the 21st century, edited by Robert Holzmann (governor, Oesterreichische Nationalbank, Austria) and Fernando Restoy (chair, financial stability institute, bank for international settlements, Switzerland)

Label
Central banks and supervisory architecture in Europe, lessons from crises in the 21st century, edited by Robert Holzmann (governor, Oesterreichische Nationalbank, Austria) and Fernando Restoy (chair, financial stability institute, bank for international settlements, Switzerland)
Language
eng
Bibliography note
Includes bibliographical references and index
Index
index present
Literary Form
non fiction
Main title
Central banks and supervisory architecture in Europe
Nature of contents
bibliographydictionaries
Oclc number
1351174301
Responsibility statement
edited by Robert Holzmann (governor, Oesterreichische Nationalbank, Austria) and Fernando Restoy (chair, financial stability institute, bank for international settlements, Switzerland)
Sub title
lessons from crises in the 21st century
Summary
"With Covid-19 and other recent crises proving the need to review the state-of-play and implement robust institutional frameworks in the complex, heterogenous and decentralised European supervisory architecture, this insightful book outlines what can be done to innovate the current set-up in the face of pressing issues such as climate change, BigTech and crypto assets. Revisiting the debate on financial sector oversight in Europe, a range of highly acclaimed international academics and influential policymakers discuss the scope of institutional arrangements. Chapters examine how the architecture of European financial supervision currently works, analysing the trends in banking supervision design and the influence that recent financial and economic crises have exerted. Providing a rare insight into the role that central banks play in the supervisory set-up, their accountability and democratic legitimacy, the book also considers the ways that macro- and micro- prudential and monetary policies interact. Gleaning lessons from the FinTech revolution and the Covid-19 crisis, the book ultimately concludes by seeking a path for optimal architecture for European financial supervision. With invaluable industry insights, this cutting-edge book will prove vital to academics in the field of financial economics and financial regulation, alongside policymakers looking to transform their current supervisory architecture"--, Provided by publisher
Table Of Contents
Contents: 1. Introduction to central banks and supervisory architecture in Europe / Robert Holzmann and Fernando Restoy -- Part I: Trends in European banking supervision design -- 2. The puzzle of Europe's banking union: Progress and missing pieces / Thorsten Beck -- 3. Supervisory architecture in the eu: Where should we go from here? / Fernando Restoy -- 4. The architecture of supervision and prudential policy / Angela Maddaloni and Alessandro Scopelliti -- 5. Trends in European banking supervision design: Is there a path to an optimal architecture for financial supervision in the eu? / Luís Silva Morais -- Part II: The role of central banks (i): Aspects of monetary and macroprudential policy interaction -- 6. Can macroprudential tools ensure financial stability? / Anne Epaulard -- 7. The interaction of monetary and financial tasks in different central bank structures / Aerdt Houben, Jan Kakes and Annelie Petersen -- 8. Monetary and macroprudential policies: A troubled marriage / Phurichai Rungcharoenkitkul -- 9. The architecture of macroprudential policy: Delegation and coordination / Charles Bean -- 10. Governance of financial sector policies in an era of climate change / Daniel C. Hardy -- Part III: The role of central banks (ii): microprudential supervision and financial stability -- 11. Entrusting central banks with microprudential supervision: implications for financial stability / Anca Maria Podpiera -- 12. Is this time different? Synergies between ecb's tasks / Karin Hobelsberger, Christoffer Kok and Francesco Paolo Mongelli -- 13. Money, supervision, and financial stability: A money-credit constitution entrusted to independent but constrained central banks / Paul Tucker -- 14. Politicians, central banks and macroprudential supervision / Donato Masciandaro -- Part IV: The fintech revolution: Implications for optimal supervisory architecture -- 15. Regulating and supervising bigtech in finance / José Manuel González-Páramo -- 16. The emerging autonomy-stability choice for stablecoins / Maarten R. C. van Oordt -- Part V: Lessons from the covid-19 crisis for the optimal supervisory architecture -- 17. Some lessons from covid-19 for the EU financial framework / Ignazio Angeloni -- 18. Central banks as emergency actors: Implications for governance arrangements / David Archer -- Index
Content
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