- 6 Downloads
What is the purpose of the extreme complexity of the banking rules? It creates a smokescreen for loopholes left there for good purposes. To help banks to finance the economy and abundantly shower homeowners and government with almost free financing. The strategy works well. Banking is stable, interest low, inflation almost non-existent. However, the approach is reasonable only if we are confident that no significant systematic event would happen soon. Summarising earlier chapters, this one tries to offer ways forward in the specific EU regulatory environment. It proposes regulatory reset, not as a radical change of the rules, but through adjustment of the parameters in the existing regulation. The purpose is single-minded, an increase in the resilience of the EU financial system.
- Admati, A., & Hellwig, M. (2014). The bankers’ new clothes, Princeton University Press.Google Scholar
- Blinder, A. S. (2013). After the music stopped, Penguin Books. ISBN 014312448X.Google Scholar
- Bookstaber, R. (2017). The end of theory: Financial crises, the failure of economics and the sweep of human interaction, Princeton University Press. ISBN 9780691169019.Google Scholar
- Cecchetti, S. G., Kohler, M., & Upper, C. (2009, September). Financial crises and economic activity. NBER Working Paper.Google Scholar
- EBA stress test. (2011). Results of the 2011 EBA EU-wide stress test: Summary (pp. 1–3). Retrieved from https://eba.europa.eu, https://eba.europa.eu/sites/default/documents/files/documents/10180/15935/f42af5f4-a7ed-446d-afb7-89941904f612/BE004.pdf.
- ECB. (2014). Assessment of 130 euro area banks in 2014. Retrieved from https://www.bankingsupervision.europa.eu, https://www.bankingsupervision.europa.eu/banking/tasks/comprehensive_assessment/html/2014_index.en.html.
- ECB. (2019). www.bankingsupervision.europa.eu. Retrieved from SSM SREP Methodology Booklet—2018 edition—to be applied in 2019 https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm.srep_methodology_booklet_2018~b0e30ced94.en.pdf.
- High-level Expert Group on Bank Structural Reform. (2012). Report of the European Commission’s High-level Expert Group on Bank Structural Reform (Liikanen report).Google Scholar
- Kay, J. (2015). Other people’s money, Profile Books. ISBN 978-1781254431.Google Scholar
- Praag, E. V. (2018, October 7). EU Court of Justice rules on liability of national banking supervisor. Retrieved from https://www.linkedin.com, https://www.linkedin.com/pulse/eu-court-justice-rules-liability-national-banking-emanuel-van-praag.