IDEAS home Printed from https://ideas.repec.org/a/prs/recofi/ecofi_0987-3368_2007_num_89_3_4292.html
   My bibliography  Save this article

Pour une politique d'actions correctives précoces dans l'Union européenne : les carences institutionnelles et légales

Author

Listed:
  • Laurence Scialom

Abstract

[eng] For a prompt corrective action policy in the European Union : institutional and legal inadequacies . The economic community seems largely in favour of the introduction of prompt corrective action policy in the EU. Nevertheless, the reflection on the institutional and legal framework conducive to such a policy is critically underdeveloped. We underline that in spite of the attractiveness of such a proposal, neither national prudential devices of the member states, nor existing directives are adapted to the legal and institutional requirements of a prompt corrective action policy. . Classification JEL : G2, K2, N24 [fre] La volonté de promouvoir une politique d’actions correctives précoces dans l’Union européenne fait l’objet d’un assez large consensus parmi les économistes spécialisés sur les questions prudentielles. Cependant, rares sont les travaux portant sur les structures institutionnelles et légales requises pour sa mise en oeuvre effective. Nous montrons dans ce papier qu’au-delà des déclarations d’intention favorables à l’adoption d’une politique d’actions correctives précoces dans l’Union européenne, ni les dispositifs prudentiels nationaux des pays membres, ni les directives existantes ne sont adaptées aux exigences institutionnelles et légales requises pour une politique de coercition graduée. . Classification JEL : G2, K2, N24

Suggested Citation

  • Laurence Scialom, 2007. "Pour une politique d'actions correctives précoces dans l'Union européenne : les carences institutionnelles et légales," Revue d'Économie Financière, Programme National Persée, vol. 89(3), pages 111-121.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_2007_num_89_3_4292
    DOI: 10.3406/ecofi.2007.4292
    Note: DOI:10.3406/ecofi.2007.4292
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/ecofi.2007.4292
    Download Restriction: no
    File URL: https://www.persee.fr/doc/ecofi_0987-3368_2007_num_89_3_4292
    Download Restriction: no
    File URL: https://libkey.io/10.3406/ecofi.2007.4292?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Robert A. Eisenbeis & Larry D. Wall, 2002. "The major supervisory initiatives post-FDICIA: Are they based on the goals of PCA? Should they be?," FRB Atlanta Working Paper 2002-31, Federal Reserve Bank of Atlanta.
    2. Larry Wall & Maria Nieto, 2006. "Precondition for a Successful Implementation of Supervisors' Primpt Corrective Action: Is There a Case for a Banking Standard in the EU?," FMG Special Papers sp165, Financial Markets Group.
    3. Eva H. G. Hüpkes, 2004. "Learning Lessons and Implementing a New Approach to Bank Insolvency Resolution in Switzerland," Palgrave Macmillan Books, in: Who Pays for Bank Insolvency?, chapter 10, pages 242-271, Palgrave Macmillan.
    4. Benink, Harald A. & Schmidt, Reinhard H., 2004. "Europe's single market for financial services: views by the European Shadow Financial Regulatory Committee," Journal of Financial Stability, Elsevier, vol. 1(2), pages 157-198, December.
    5. George J. Benston & George G. Kaufman, 1998. "Deposit insurance reform in the FDIC Improvement Act: the experience to date," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 22(Q II), pages 2-20.
    6. Laurence Scialom, 2006. "Pour une approche holiste du filet de sécurité financière dans l'Union Européenne : quelques arguments," Revue d'économie politique, Dalloz, vol. 116(4), pages 471-486.
    7. William R. White, 1998. "The coming transformation of continental european banking?," BIS Working Papers 54, Bank for International Settlements.
    8. Iman van Lelyveld & Arnold Schilder, 2003. "Risk in Financial Conglomerates: Management and Supervision," Finance 0301006, University Library of Munich, Germany.
    9. David G. Mayes & Aarno Liuksila & Thorsten Beck & Bethany Blowers & Henk Brouwer & Peik Granlund & Christos Hadjiemmanuil & Gerbert Hebbink & Eva H. G. Hüpkes & Eigil Mølgaard & Jón Sigurðsson & Gary , 2004. "Who Pays for Bank Insolvency?," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-52391-3.
    10. Mr. Michael W Taylor & Mr. Marc G Quintyn & Ms. Eva H. G. Hüpkes, 2005. "The Accountability of Financial Sector Supervisors: Principles and Practice," IMF Working Papers 2005/051, International Monetary Fund.
    11. Robert R. Bliss & George G. Kaufman, 2006. "U.S. corporate and bank insolvency regimes: an economic comparison and evaluation," Working Paper Series WP-06-01, Federal Reserve Bank of Chicago.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sonia Ondo Ndong & Laurence Scialom, 2009. "Northern Rock: The Anatomy of a Crisis—The Prudential Lessons," Palgrave Macmillan Books, in: Robert R. Bliss & George G. Kaufman (ed.), Financial Institutions and Markets, chapter 3, pages 51-74, Palgrave Macmillan.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sonia Ondo Ndong & Laurence Scialom, 2009. "Northern Rock: The Anatomy of a Crisis—The Prudential Lessons," Palgrave Macmillan Books, in: Robert R. Bliss & George G. Kaufman (ed.), Financial Institutions and Markets, chapter 3, pages 51-74, Palgrave Macmillan.
    2. Masciandaro, D. & Nieto, M. & Prast, H.M., 2007. "Financial Governance of Banking Supervision," Other publications TiSEM 65d7ff26-dca3-4da3-86ff-6, Tilburg University, School of Economics and Management.
    3. Mayes, David G., 2004. "An approach to bank insolvency in transition and emerging economies," Bank of Finland Research Discussion Papers 4/2004, Bank of Finland.
    4. George G. Kaufman, 2004. "FDIC losses in bank failures: has FDICIA made a difference?," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 28(Q III), pages 13-25.
    5. repec:zbw:bofrdp:2004_010 is not listed on IDEAS
    6. Robert N. Collender & Samantha Roberts & Valerie L. Smith, 2007. "Signals from the Markets for Fannie Mae and Freddie Mac Subordinated Debt," FHFA Staff Working Papers 07-04, Federal Housing Finance Agency.
    7. Andy Haldane & Mark Kruger, 2002. "The Resolution of International Financial Crises: Private Finance and Public Funds," Bank of Canada Review, Bank of Canada, vol. 2001(Winter), pages 3-13.
    8. Christopher Gandrud & Mark Hallerberg, 2015. "Does Banking Union Worsen the EU's Democratic Deficit? The Need for Greater Supervisory Data Transparency," Journal of Common Market Studies, Wiley Blackwell, vol. 53(4), pages 769-785, July.
    9. repec:zbw:bofrdp:2004_004 is not listed on IDEAS
    10. Mayes, David G. & Nieto, María J. & Wall, Larry, 2008. "Multiple safety net regulators and agency problems in the EU: Is Prompt Corrective Action partly the solution?," Journal of Financial Stability, Elsevier, vol. 4(3), pages 232-257, September.
    11. Claudia M. Buch, 2000. "Capital Market Integration in Euroland: The Role of Banks," German Economic Review, Verein für Socialpolitik, vol. 1(4), pages 443-464, November.
    12. Hesna Genay, 1998. "Assessing the condition of Japanese banks: how informative are accounting earnings?," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 22(Q IV), pages 12-34.
    13. Mälkönen, Ville, 2004. "Capital adequacy regulation and financial conglomerates," Bank of Finland Research Discussion Papers 10/2004, Bank of Finland.
    14. J. O. S. Wilson & J. M. Williams, 2000. "The size and growth of banks: evidence from four European countries," Applied Economics, Taylor & Francis Journals, vol. 32(9), pages 1101-1109.
    15. George Kaufman, 2004. "Bank regulation and foreign-owned banks," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 67, june.
    16. Bruno Meyerhof Salama & Vicente P. Braga, 2023. "The case for private administration of deposit guarantee schemes," Journal of Banking Regulation, Palgrave Macmillan, vol. 24(1), pages 51-65, March.
    17. van Lelyveld, Iman & Knot, Klaas, 2009. "Do financial conglomerates create or destroy value? Evidence for the EU," Journal of Banking & Finance, Elsevier, vol. 33(12), pages 2312-2321, December.
    18. Mayes, David G., 2005. "Who pays for bank insolvency in transition and emerging economies?," Journal of Banking & Finance, Elsevier, vol. 29(1), pages 161-181, January.
    19. Beck, Thorsten & Laeven, Luc, 2006. "Resolution of failed banks by deposit insurers : cross-country evidence," Policy Research Working Paper Series 3920, The World Bank.
    20. John R. Hall & Thomas B. King & Andrew P. Meyer & Mark D. Vaughan, 2002. "Did FDICIA enhance market discipline on community banks? a look at evidence from the jumbo-CD market," Supervisory Policy Analysis Working Papers 2002-04, Federal Reserve Bank of St. Louis.
    21. Mr. Gianni De Nicolo & Ms. Mary G Zephirin & Philip F. Bartholomew & Ms. Jahanara Zaman, 2003. "Bank Consolidation, Internationalization, and Conglomeration: Trends and Implications for Financial Risk," IMF Working Papers 2003/158, International Monetary Fund.
    22. Robert A. Eisenbeis & George G. Kaufman, 2007. "Cross-border banking: challenges for deposit insurance and financial stability in the European Union," FRB Atlanta Working Paper 2006-15, Federal Reserve Bank of Atlanta.

    More about this item

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • K2 - Law and Economics - - Regulation and Business Law
    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
    • G2 - Financial Economics - - Financial Institutions and Services
    • K2 - Law and Economics - - Regulation and Business Law
    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prs:recofi:ecofi_0987-3368_2007_num_89_3_4292. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Equipe PERSEE (email available below). General contact details of provider: https://www.persee.fr/collection/ecofi .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.