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Harmonizing national options and discretions in the EU banking regulation

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  • Zdenek Kudrna
  • Sonja Puntscher Riekmann

Abstract

The European Central Bank strives to harmonize over 160 national options and discretions (O&Ds) that contribute to the fragmentation of banking union’s regulatory framework. National authorities seem prepared to accept it, despite previously insisting on the inclusion of all O&Ds into the EU legislation. We analyze a sample of O&D choices and their correspondence to cleavages pertinent to the political economy of EU banking. We find that the 11 post-communist member states use O&Ds more stringently to protect capital and liquidity in the local subsidiaries of foreign-own banks, which may complicate their potential opt-in to the banking union.

Suggested Citation

  • Zdenek Kudrna & Sonja Puntscher Riekmann, 2018. "Harmonizing national options and discretions in the EU banking regulation," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 21(2), pages 144-158, April.
    • Handle: RePEc:taf:jecprf:v:21:y:2018:i:2:p:144-158
    DOI: 10.1080/17487870.2017.1400438
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    Cited by:

    1. Bart Stellinga, 2021. "The Rise and Stall of EU Macro‐Prudential Policy. An Empirical Analysis of Policy Conflicts over Financial Stability, Market Integration, and National Discretion," Journal of Common Market Studies, Wiley Blackwell, vol. 59(6), pages 1438-1457, November.
    2. Eckert, Sandra, 2020. "EU agencies in banking and energy between institutional and policy centralisation," SAFE Working Paper Series 278, Leibniz Institute for Financial Research SAFE.
    3. Ravel Sami Jabbour, 2022. "The fragmentation of international banking regulation," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(4), pages 4451-4471, October.
    4. Lindner, Vincent & Eckert, Sandra & Nölke, Andreas, 2022. "Political science research on the reasons for the (non) adoption and (non) implementation of EMU reform proposals: The state of the art," SAFE Working Paper Series 339, Leibniz Institute for Financial Research SAFE.
    5. Thierry Warin & Aleksandar Stojkov, 2021. "Banks’ Foreign Claims in the Aftermath of the 2008 Crisis: Institutional Response, Financial Efficiency, and Integration of Cross-Border Banking in the Euro Area," JRFM, MDPI, vol. 14(2), pages 1-17, February.

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