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The Regulation Framework for the Banking Sector: The EMU, European Banks and Rating Agencies before and during the Recent Financial and Debt Crisis

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Author Info

  • Eleftherios Thalassinos

    (University of Piraeus)

  • Konstantinos Liapis

    (Panteion University)

  • John E. Thalassinos

    (MSc. London Business School)

Abstract

In our survey article, we present a holistic regulation framework for the banking sector. The article is based on European banks that are part of the European Monetary Union (EMU). Initially, we focus on the timelines and review the integration of the European Monetary Union, relevant legislation and information on member countries’ banking sectors. This information creates the framework for our analysis. A regulation framework for the banking sector should be characterised by transparency, responsibility and performance in several important areas. These areas are the global and European framework for corporate financial reporting (CFR), risk management (RM), stockholder value creation (SVC), corporate governance (CG), corporate social responsibility (CSR) and sustainable development (SD). The regulation framework for the banking sector must also consider the fiscal and monetary environment in which a banking institution operates. The global rating system and the rating agencies will also have an important impact on any regulation framework for the banking sector. These two factors play a key role when a financial, credit or debt crisis occurs. Our article considers all of the above factors in creating a holistic regulation framework for the banking sector to present in the context of the recent financial, credit and debt crises that have taken place in the EMU.

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File URL: http://feaa.ucv.ro/AUCSSE/0039v1-039.pdf
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Bibliographic Info

Article provided by University of Craiova, Faculty of Economics and Business Administration in its journal Annals of Computational Economics.

Volume (Year): 1 (2011)
Issue (Month): 39 ()
Pages: 250-279

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Handle: RePEc:aio:aucsse:v:1:y:2011:i:39:p:250-279

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Related research

Keywords: Banking; Regulations; Financial Crisis; Debt Crisis; EMU;

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References

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  1. Jardet, C. & Le Fol, G., 2007. "Euro money market interest rates dynamics and volatility: How they respond to recent changes in the operational framework," Working papers 167, Banque de France.
  2. Paul A. Gompers & Joy L. Ishii & Andrew Metrick, 2002. "Corporate Governance and Equity Prices," Center for Financial Institutions Working Papers 02-32, Wharton School Center for Financial Institutions, University of Pennsylvania.
  3. Themis D. Pantos & Reza Saidi, 2005. "The Greek three-pillar functional system in the presence of the European Union Banking Directives," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 13(2), pages 167-176, May.
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  5. Street, Donna L. & Nichols, Nancy B. & Gray, Sidney J., 2000. "Assessing the Acceptability of International Accounting Standards in the US: An Empirical Study of the Materiality of US GAAP Reconciliations by Non-US Companies Complying with IASC Standards," The International Journal of Accounting, Elsevier, vol. 35(1), pages 27-63, 03.
  6. Barros, Carlos Pestana & Ferreira, Candida & Williams, Jonathan, 2007. "Analysing the determinants of performance of best and worst European banks: A mixed logit approach," Journal of Banking & Finance, Elsevier, vol. 31(7), pages 2189-2203, July.
  7. Bhimani, Alnoor & Soonawalla, Kazbi, 2005. "From conformance to performance: The corporate responsibilities continuum," Journal of Accounting and Public Policy, Elsevier, vol. 24(3), pages 165-174.
  8. Rogers, John H., 2007. "Monetary union, price level convergence, and inflation: How close is Europe to the USA?," Journal of Monetary Economics, Elsevier, vol. 54(3), pages 785-796, April.
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  10. Manolis Christofakis & George Mergos & Athanasios Papadaskalopoulos, 2009. "Sustainable and balanced development of insular space: the case of Greece," Sustainable Development, John Wiley & Sons, Ltd., vol. 17(6), pages 365-377.
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Cited by:
  1. Stefka Iankova, 2013. "Success and Failure Factors of the Mergers and Acquisitions Performance: Evidence from Bulgaria," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 79-90.

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