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Die Ausgestaltung grenzüberschreitender Bankenaufsicht als ordnungspolitisches Problem / The Optimal Design of Cross-Border Banking Supervision As a Policy Problem

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  • Lehmann Matthias

Abstract

In times of transnationally integrated financial markets, the optimal design of financial supervision presents a particular challenge. Taking the Eurozone′s plan for a banking union as a starting point, this article analyses the intricate problems and offers solutions from a policy perspective. It discusses whether uniform law-making needs to be supplemented by uniform institutional arrangements for law enforcement; what is the appropriate scope of supranational financial supervision, e.g. whether it should only include Systematically Important Financial Institutions (SIFIs); which approach (sectoral or integrated) to supervision is more fitting; whether supranational financial supervision should be conferred to a college of national supervisors or to a self-standing body and whether this body should be a Central Bank or a separate institution. The contribution results in some practically oriented proposals that show the way beyond the current political discussion.

Suggested Citation

  • Lehmann Matthias, 2013. "Die Ausgestaltung grenzüberschreitender Bankenaufsicht als ordnungspolitisches Problem / The Optimal Design of Cross-Border Banking Supervision As a Policy Problem," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 64(1), pages 327-348, January.
    • Handle: RePEc:bpj:ordojb:v:64:y:2013:i:1:p:327-348:n:16
    DOI: 10.1515/ordo-2013-0116
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    References listed on IDEAS

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    1. Jeffrey Carmichael & Michael Pomerleano, 2002. "The Development and Regulation of Non-Bank Financial Institutions," World Bank Publications - Books, The World Bank Group, number 15236.
    2. Jean Pisani-Ferry & André Sapir & Nicolas Véron & Guntram B. Wolff, 2012. "What kind of European banking union?," Bruegel Policy Contributions 731, Bruegel.
    3. Nikola Tarashev & Claudio Borio & Kostas Tsatsaronis, 2010. "Attributing systemic risk to individual institutions," BIS Working Papers 308, Bank for International Settlements.
    4. William M. Dugger, 1996. "The Mechanisms of Governance," Journal of Economic Issues, Taylor & Francis Journals, vol. 30(4), pages 1212-1216, December.
    5. Lehmann Matthias & Manger-Nestler Cornelia, 2011. "Das neue Europäische Finanzaufsichtssystem," Zeitschrift für Bankrecht und Bankwirtschaft (ZBB) / Journal of Banking Law and Banking (JBB), RWS Verlag, vol. 23(1), pages 2-24, February.
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    1. Kerber Markus C., 2014. "Den Bock zum Gärtner machen? – Eine ordnungspolitische Hinterfragung der Bankenunion / ECB as single supervisory authority: Setting the fox to watch the geese?," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 65(1), pages 75-98, January.

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