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Cross-border financial groups and supervision in Europe after the crisis

Author

Listed:
  • Elisabetta Gualandri

    (Università di Modena e Reggio Emilia - Cefin)

  • Simonetta Cotterli

    (Università di Modena e Reggio Emilia - Cefin)

Abstract

The financial crisis has dramatically demonstrated that the increasing role of cross-border financial intermediaries in the Eu has not been supported by adequate pan European supervision.The aim of the paper is to focus on the shortcomings of supervision in the Eu, and then to review the recent proposals for a new European supervisory architecture, analyzing the impact on Eu cross-border financial groups (Dexia, Fortis) and the actions taken by the national authorities to deal with the crisis. We critically evaluate the possible path to reform, focusing on the role of the prudential supervision in relation to macro control of systemic risk, and of the College of Supervisors with regard to the supervision of cross-border groups.

Suggested Citation

  • Elisabetta Gualandri & Simonetta Cotterli, 2010. "Cross-border financial groups and supervision in Europe after the crisis," BANCARIA, Bancaria Editrice, vol. 1, pages 2-16, January.
    • Handle: RePEc:ban:bancar:v:01:y:2010:m:january:p:2-16
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    File URL: http://www.bancariaeditrice.it/prodotti/vedi/prodotto/id/1881/bancaria-n-1-2010
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    More about this item

    Keywords

    financial crisis; regulation; supervision; cross-border groups;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • K20 - Law and Economics - - Regulation and Business Law - - - General

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