A Banking Union For The Euro Area

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A Banking Union for the Euro Area

Rishi Goyal,Ms.Petya Koeva Brooks,Mahmood Pradhan,Mr.Thierry Tressel,Mr.Giovanni Dell'Ariccia,Ceyla Pazarbasioglu
A Banking Union for the Euro Area Book PDF

Author : Rishi Goyal,Ms.Petya Koeva Brooks,Mahmood Pradhan,Mr.Thierry Tressel,Mr.Giovanni Dell'Ariccia,Ceyla Pazarbasioglu
Publisher : International Monetary Fund
Page : 31 pages
File Size : 50,5 Mb
Release : 2013-02-12
Category : Business & Economics
ISBN : 9781475569827

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A Banking Union for the Euro Area by Rishi Goyal,Ms.Petya Koeva Brooks,Mahmood Pradhan,Mr.Thierry Tressel,Mr.Giovanni Dell'Ariccia,Ceyla Pazarbasioglu Pdf

The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, presents a steady state view of the banking union, elaborates difficult transition issues, and briefly discusses broader EU issues. As such, it assesses current plans and provides advice. It is accompanied by three background technical notes that analyze in depth the various elements of the banking union: a single supervisory framework; a single resolution and common safety net; and urgent issues related to repair of weak banks in Europe.

European Banking Union

Juan E. Castañeda,David G. Mayes,Geoffrey Wood
European Banking Union Book PDF

Author : Juan E. Castañeda,David G. Mayes,Geoffrey Wood
Publisher : Routledge
Page : 246 pages
File Size : 53,6 Mb
Release : 2015-11-19
Category : Business & Economics
ISBN : 9781317443032

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European Banking Union by Juan E. Castañeda,David G. Mayes,Geoffrey Wood Pdf

Recent failures and rescues of large banks have resulted in colossal costs to society. In wake of such turmoil a new banking union must enable better supervision, pre-emptive coordinated action and taxpayer protection. While these aims are meritorious they will be difficult to achieve. This book explores the potential of a new banking union in Europe. This book brings together leading experts to analyse the challenges of banking in the European Union. While not all contributors agree, the constructive criticism provided in this book will help ensure that a new banking union will mature into a stable yet vibrant financial system that encourages the growth of economic activity and the efficient allocation of resources. This book will be of use to researchers interested in Banking, Monetary Economics and the European Union.

Euro Area Policies

International Monetary Fund. Monetary and Capital Markets Department
Euro Area Policies Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 49 pages
File Size : 46,8 Mb
Release : 2018-07-19
Category : Business & Economics
ISBN : 9781484369678

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Euro Area Policies by International Monetary Fund. Monetary and Capital Markets Department Pdf

The euro area (EA) bank resolution and crisis management arrangements have been strengthened considerably over recent years, but work remains to complete and unify the regime. The adoption of the Bank Recovery and Resolution Directive (BRRD) and the Single Resolution Mechanism Regulation (SRMR), and the establishment of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM) provide a foundation to deal with problem banks. The authorities remain committed to completing the banking union through the establishment of a backstop for the Single Resolution Fund (SRF) and a European deposit insurance scheme (EDIS) and other measures, many of which are in line with recommendations in this report.

Risk and Regulation in Euro Area Banks

Francesca Arnaboldi
Risk and Regulation in Euro Area Banks Book PDF

Author : Francesca Arnaboldi
Publisher : Springer Nature
Page : 165 pages
File Size : 45,8 Mb
Release : 2019-10-31
Category : Business & Economics
ISBN : 9783030234294

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Risk and Regulation in Euro Area Banks by Francesca Arnaboldi Pdf

Since the last financial crisis, much work has been undertaken to strengthen the ability to respond to distress in the EU financial system. However, reforms enacted since the Single Resolution Mechanism was created in July 2014 as part of the Banking Union initiated in 2012 mainly focused on non-performing loans, and the third pillar of the Banking Union, namely a European Deposit Insurance Scheme, has not been completed. Against this backdrop, this book focuses on the reasons why the EU banking system continues to remain fragile. In particular, high stocks of non-performing loans in some countries, the Level 3 assets evaluation and high exposure of many banks to the debts of their own governments are among the major concerns. Secondly, the book discusses the completion of the public safety net for banks, including deposit insurance, which remains primarily at the national level. This creates scope for contagion from banking sector fragility to national sovereign debt distress. Of interest to banking researchers, academics and students, this book combines rigorous analysis of the regulatory framework and empirical investigation on EU banking system data to prove that market discipline and risk sharing should be viewed as complementary pillars of the Euro-area financial architecture rather than as substitutes, requiring a reformed institutional framework.

The Political Economy of European Banking Union

David Howarth,Lucia Quaglia
The Political Economy of European Banking Union Book PDF

Author : David Howarth,Lucia Quaglia
Publisher : Oxford University Press
Page : 256 pages
File Size : 51,5 Mb
Release : 2016-09-15
Category : Business & Economics
ISBN : 9780191043802

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The Political Economy of European Banking Union by David Howarth,Lucia Quaglia Pdf

The establishment of Banking Union represents a major development in European economic governance and European integration history more generally. Banking Union is also significant because not all European Union (EU) member states have joined, which has increased the trend towards differentiated integration in the EU, posing a major challenge to the EU as a whole and to the opt-out countries. This book is informed by two main empirical questions. Why was Banking Union - presented by proponents as a crucial move to 'complete' Economic and Monetary Union (EMU) - proposed only in 2012, over twenty years after the adoption of the Maastricht Treaty? Why has a certain design for Banking Union been agreed and some elements of this design prioritized over others? A two-step explanation is articulated in this study. First, it explains why euro area member state governments moved to consider Banking Union by building on the concept of the 'financial trilemma', and examining the implications of the single currency for euro area member state banking systems. Second, it explains the design of Banking Union by examining the preferences of member state governments on the core components of Banking Union and developing a comparative political economy analysis focused on the configuration of national banking systems and varying national concern for the moral hazard facing banks and sovereigns created by euro level support mechanisms.

Toward A Fiscal Union for the Euro Area

Céline Allard,Petya Koeva Brooks,Mr. John C Bluedorn,Fabian Bornhorst,Franziska Ohnsorge,Mrs. Katharine M Christopherson Puh
Toward A Fiscal Union for the Euro Area Book PDF

Author : Céline Allard,Petya Koeva Brooks,Mr. John C Bluedorn,Fabian Bornhorst,Franziska Ohnsorge,Mrs. Katharine M Christopherson Puh
Publisher : International Monetary Fund
Page : 28 pages
File Size : 50,9 Mb
Release : 2013-09-25
Category : Business & Economics
ISBN : 9781484325186

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Toward A Fiscal Union for the Euro Area by Céline Allard,Petya Koeva Brooks,Mr. John C Bluedorn,Fabian Bornhorst,Franziska Ohnsorge,Mrs. Katharine M Christopherson Puh Pdf

This is on a highly topical issue and addresses a key policy issue for Europe—namely, reinforcing EMU institutional architecture along with the Banking Union. Some proposals have emerged in Europe, and it will be important to put out staff views on this issue. In that context, publication as an SDN is appropriate, given the high profile nature and relevance of the topic—much like the Banking Union paper done a few months ago.

Revisiting the Economic Case for Fiscal Union in the Euro Area

Mr.Helge Berger,Mr.Giovanni Dell'Ariccia,Mr.Maurice Obstfeld
Revisiting the Economic Case for Fiscal Union in the Euro Area Book PDF

Author : Mr.Helge Berger,Mr.Giovanni Dell'Ariccia,Mr.Maurice Obstfeld
Publisher : International Monetary Fund
Page : 63 pages
File Size : 42,6 Mb
Release : 2018-02-20
Category : Business & Economics
ISBN : 9781484344033

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Revisiting the Economic Case for Fiscal Union in the Euro Area by Mr.Helge Berger,Mr.Giovanni Dell'Ariccia,Mr.Maurice Obstfeld Pdf

The paper makes an analytical contribution to the revived discussion about the euro area’s institutional setup. After significant progress during the euro crisis, the drive to complete Europe’s Economic and Monetary Union (EMU) had stalled, and the way forward will benefit from an in-depth look at the conceptual issues raised by the evolution and architecture of Europe, and the tradeoffs involved. A thorough look at the underlying economic issues suggests that in the long run, EMU will benefit from progressing along three mutually supporting tracks: introduce more fiscal risk sharing, helping to make the sovereign “no bailout” rule credible; complementary financial sector reforms to delink sovereigns and banks; and more effective rules to discourage moral hazard. This evolution would ensure that financial markets provide incentives for fiscal discipline. Introducing more fiscal union comes with myriad legal, technical, operational, and political problems, raising questions well beyond the remit of economics. But without decisive progress to foster fiscal risk sharing, EMU will continue to face existential risks.

The Euro and the Crisis

Nazaré da Costa Cabral,José Renato Gonçalves,Nuno Cunha Rodrigues
The Euro and the Crisis Book PDF

Author : Nazaré da Costa Cabral,José Renato Gonçalves,Nuno Cunha Rodrigues
Publisher : Springer
Page : 366 pages
File Size : 44,9 Mb
Release : 2016-11-30
Category : Business & Economics
ISBN : 9783319457109

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The Euro and the Crisis by Nazaré da Costa Cabral,José Renato Gonçalves,Nuno Cunha Rodrigues Pdf

This book analyzes the effects of the recent crisis and evaluates potential solutions to the gridlock that is currently dominating the Eurozone and the European Union, concerning both the monetary policy and the budgetary and fiscal policy. The timely study highlights the main challenges that European political leaders will face in the months to come. Furthermore, its interdisciplinary approach embraces economic, financial and legal perspectives, so as to ensure the global coherence and comprehensiveness of its content. The contributors to this volume are prominent experts from the areas of Economics, Finance, Law, and Political Science, offering readers a multifaceted view of the topics discussed.

Euro Area Policies

International Monetary Fund. Monetary and Capital Markets Department
Euro Area Policies Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 86 pages
File Size : 52,5 Mb
Release : 2018-07-20
Category : Business & Economics
ISBN : 9781484369289

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Euro Area Policies by International Monetary Fund. Monetary and Capital Markets Department Pdf

Overall the resilience of large euro area banks has improved, but important vulnerabilities remain. Capital buffers are in aggregate sizeable relative to immediate threats, but some banks are especially vulnerable to credit risk and others to market risks, including a substantial rise in risk premia. The banking system as a whole has ample liquidity, against a backdrop of ECB support. At a structural level, low profitability is found in many banks across all business models, despite improving conjunctural conditions. The interconnectedness analysis shows that strong buffers are effective in dampening both vulnerabilities and onward transmission. Risks to financial stability relate mainly to tighter financial conditions, weaker growth, and policy and geopolitical uncertainties. The withdrawal of the United Kingdom from the EU (Brexit) could potentially disrupt financial market and services, and thus the wider economy. Also, policy reversals could hurt debt sustainability and test the cohesion of policy making in the union.

From Fragmentation to Financial Integration in Europe

Mr. Charles Enoch,Mr. Luc Everaert,Mr. Thierry Tressel,Ms. Jian-Ping Zhou
From Fragmentation to Financial Integration in Europe Book PDF

Author : Mr. Charles Enoch,Mr. Luc Everaert,Mr. Thierry Tressel,Ms. Jian-Ping Zhou
Publisher : International Monetary Fund
Page : 524 pages
File Size : 41,5 Mb
Release : 2013-12-11
Category : Business & Economics
ISBN : 9781475570311

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From Fragmentation to Financial Integration in Europe by Mr. Charles Enoch,Mr. Luc Everaert,Mr. Thierry Tressel,Ms. Jian-Ping Zhou Pdf

From Fragmentation to Financial Integration in Europe is a comprehensive study of the European Union financial system. It provides an overview of the issues central to securing a safer financial system for the European Union and looks at the responses to the global financial crisis, both at the macro level—the pendulum of financial integration and fragmentation—and at the micro level—the institutional reforms that are taking place to address the crisis. The emerging financial sector management infrastructure, including the proposed Single Supervisory Mechanism and other elements of a banking union for the euro area, are also discussed in detail.

The European Banking Union and Constitution

Stefan Grundmann,Hans-W Micklitz
The European Banking Union and Constitution Book PDF

Author : Stefan Grundmann,Hans-W Micklitz
Publisher : Bloomsbury Publishing
Page : 393 pages
File Size : 45,6 Mb
Release : 2019-01-24
Category : Law
ISBN : 9781509907564

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The European Banking Union and Constitution by Stefan Grundmann,Hans-W Micklitz Pdf

In 2012, at the height of the sovereign debt crisis, European decision makers pushed for developing an 'ever closer union' with the formation of a European Banking Union (BU). Although it provoked widespread debate, to date there has been no coherent discussion of the political and constitutional dimensions of the European Banking Union. This important new publication fills this gap. Drawing on the expertise of recognised experts in the field, it explores banking union from legal, economic and political perspectives. It takes a four-part approach. Firstly, it sets the scene by examining the constitutional foundations of banking union. Then in parts 2 and 3, it looks at the implications of banking union for European integration and for democracy. Finally it asks whether banking union might be more usefully regarded as a trade-off between integration and democracy. This is an important, timely and authoritative collection.

Political, Fiscal and Banking Union in the Eurozone?

Wharton Financial Institutions Center,European University Institute
Political Fiscal and Banking Union in the Eurozone Book PDF

Author : Wharton Financial Institutions Center,European University Institute
Publisher : Unknown
Page : 192 pages
File Size : 42,7 Mb
Release : 2013-09-06
Category : Banks and banking, Central
ISBN : 0983646961

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Political, Fiscal and Banking Union in the Eurozone? by Wharton Financial Institutions Center,European University Institute Pdf

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The European Banking Union and the Role of Law

Gianni Lo Schiavo
The European Banking Union and the Role of Law Book PDF

Author : Gianni Lo Schiavo
Publisher : Edward Elgar Publishing
Page : 320 pages
File Size : 44,5 Mb
Release : 2019
Category : Bailouts (Government policy)
ISBN : 9781788972024

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The European Banking Union and the Role of Law by Gianni Lo Schiavo Pdf

The European Banking Union and the Role of Law offers a comprehensive and unique examination of the European Banking Union’s (EBU) impact on existing legal disciplines and assesses the role of law in shaping the EBU framework.

The Mechanics of a Strong Euro Area

Petya Koeva Brooks,Mahmood Pradhan
The Mechanics of a Strong Euro Area Book PDF

Author : Petya Koeva Brooks,Mahmood Pradhan
Publisher : International Monetary Fund
Page : 286 pages
File Size : 47,5 Mb
Release : 2015-10-21
Category : Business & Economics
ISBN : 9781513566764

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The Mechanics of a Strong Euro Area by Petya Koeva Brooks,Mahmood Pradhan Pdf

The euro area has experienced an unprecedented economic downturn and exceptional financial market turmoil in the past few years. Policymakers have faced the twin challenges of addressing cyclical economic weakness-not unlike other industrial countries following the global economic crisis-and the underlying weaknesses in the architecture of the currency union, weaknesses that appear to have been masked during the first relatively calm years of Economic and Monetary Union (EMU). Among member states, many structural weaknesses were exposed when economic performance declined significantly and financial markets became more discerning.This book focuses on the analytical underpinnings of real-time policy advice given to euro area policymakers during four cycles of the IMF's annual Article IV consultations (2012-15) with euro area authorities.

The Palgrave Handbook of European Banking Union Law

Mario P. Chiti,Vittorio Santoro
The Palgrave Handbook of European Banking Union Law Book PDF

Author : Mario P. Chiti,Vittorio Santoro
Publisher : Springer
Page : 434 pages
File Size : 55,6 Mb
Release : 2019-05-16
Category : Business & Economics
ISBN : 9783030134754

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The Palgrave Handbook of European Banking Union Law by Mario P. Chiti,Vittorio Santoro Pdf

This handbook analyses the European Banking Union legal framework focusing on legislative acts (regulations and directives), case law and the resolution procedures. In addition, it will pay attention to the division of responsibilities between the ECB and the national authorities, with special attention to the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). To give a more complete picture, the book will also cover the implementation of European Deposit Insurance Scheme (so called third pillar) still under construction, and appeal to academics, researchers and students of banking and financial law.