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

  • Laurence Scialom

[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 [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

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Article provided by Programme National Persée in its journal Revue d'économie financière.

Volume (Year): 89 (2007)
Issue (Month): 3 ()
Pages: 111-121

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Handle: RePEc:prs:recofi:ecofi_0987-3368_2007_num_89_3_4292
Note: DOI:10.3406/ecofi.2007.4292
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  1. Jeroen J.M. Kremers & Dirk Schoenmaker & Peter J. Wierts (ed.), 2003. "Financial Supervision in Europe," Books, Edward Elgar, number 2652, March.
  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. 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.
  4. 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.
  5. Dirk Schoenmaker & Sander Oosterloo, 2005. "Financial Supervision in an Integrating Europe: Measuring Cross-Border Externalities," International Finance, Wiley Blackwell, vol. 8(1), pages 1-27, 07.
  6. Laurence Scialom & Michel Aglietta, 2003. "The Challenge of European Integration for Prudential Policy," FMG Special Papers sp152, Financial Markets Group.
  7. 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 No. 2002-31, Federal Reserve Bank of Atlanta.
  8. Robert R. Bliss & George 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.
  9. Iman van Lelyveld & Arnold Schilder, 2002. "Risk in Financial Conglomerates: Management and Supervision," Research Series Supervision (discontinued) 49, Netherlands Central Bank, Directorate Supervision.
  10. Michael Taylor & Marc Quintyn & Eva H. G. Hüpkes, 2005. "The Accountability of Financial Sector Supervisors; Principles and Practice," IMF Working Papers 05/51, International Monetary Fund.
  11. Mayes, David G., 2004. "Who pays for bank insolvency?," Journal of International Money and Finance, Elsevier, vol. 23(3), pages 515-551, April.
  12. William R. White, 1998. "The coming transformation of continental european banking?," BIS Working Papers 54, Bank for International Settlements.
  13. 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, issue Q II, pages 2-20.
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