This paper describes several (European) regulatory initiatives undertaken following the financial crisis. There have been global responses, such as the FSF and BCBS 2008 Reports; numerous national initiatives, including a new Belgian network; and the European 2008 MOU, with nine common principles. The first concerns objectives; the rest cover three main topics, including: (1) crisis management framework; (2) co-ordination between authorities during crises; (3) choice of resolution policy. The MOU advocates the establishment of cross-border stability groups (CBSG). Finally we discuss the distinction between potential agreements on: (1) burden-sharing principles and (2) burden-sharing rules. Without the possibility of an effective enforcement policy, the former is preferable.
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Volume (Year): 4 (2008) Issue (Month): 4 (December) Pages: 368-375 Download reference. The following formats are available: HTML
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