Designing a Regulatory and Supervisory Framework for Integrated Financial Markets

Di Giorgio, Giorgio and Di Noia, Carmine (2008) Designing a Regulatory and Supervisory Framework for Integrated Financial Markets. [Discussion Paper]. p. 22. (In Press)

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The financial crisis that started in 2007 casts doubt about the ability of national laws and competent authorities to manage the stability of the financial system and to protect investors. This is due to the relevant evolving features of financial intermediation, like the cross-border strategies in banking, with many M&A undertaken, especially in Europe, and more in general the globalization of finance, also through the many recent operations among exchanges. The associated regulatory and supervisory challenges have proved to be difficult to tackle. An international perspective is needed on single banking regulatory instruments, even if it is impossible at this stage to imagine unique rules and single international authorities managing capital ratios, deposit insurance, reserve requirements and lending of last resort, as well as other tools for providing financial markets stability. However, some common principles on regulation and the structure of supervision may be stated both in US and in Europe: we suggest a “four peak” approach to the matter.

Item Type: Report / Paper (Discussion Paper)
Research documents and activity classification: Working Papers > Refereed Working Papers / of international relevance
Divisions: Department of Business and Management
MIUR Scientific Area: Area 13 - Economics and Statistics > SECS-P/01 Political Economy
Deposited by: Silvia Capobianchi
Date Deposited: 03 Nov 2009 12:02
Last Modified: 21 Apr 2015 23:11


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