Central Banks and Supervisory Architecture in Europe Lessons from Crises in the 21st Century
Produktdetaljer
Biografisk notat
Edited by Robert Holzmann, Governor, Oesterreichische Nationalbank, Austria and Fernando Restoy, Chair, Financial Stability Institute, Bank for International Settlements, Switzerland<i>‘This volume provides a comprehensive and indispensable opportunity to take stock of the achievements and challenges of European banking supervision after the momentous reforms of the early 2010s, and on the related debates about financial supervisory architecture. While the complexity may at times appear dizzying, it is an important story whose policy lessons have relevance well beyond the boundaries of the euro area and European Union.’</i>
- Nicolas Véron, Bruegel, Belgium and the Peterson Institute for International Economics, US,
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.