First Banking Union, then ‘Brexit’: Is the EBA dead?

Only shortly after its creation, the European Banking Authority (EBA), the EU agency that was established in 2011 to foster a harmonized approach towards banking regulation and supervision in all EU Member States, found itself in an existential struggle: The financial crisis continued with full speed and even transformed itself into a full-fledged sovereign debt … Continue reading First Banking Union, then ‘Brexit’: Is the EBA dead?

Banks without passports: How deep is the Brexit cliff?

Following the decision of the British electorate to leave the European Union (EU), the concerns of the UK-based banks are focused on the critical issue of “passporting” rights, which allow UK-licensed financial institutions to provide financial services directly to customers in other EU Member States. In a previous post, we have already sketched out the baseline scenarios … Continue reading Banks without passports: How deep is the Brexit cliff?

Regulators’ competition: Towards an objective based regulatory architecture

Lawmakers, regulators and academics spend much energy reforming the substantive regulatory subject matter. The equally important question of how to transform this „law in the books“ to the „law in action“ is less prominent. This is astonishing, given that the prevalent systems of both sectoral (banks, capital markets, insurance; e.g. the US system with OTC, … Continue reading Regulators’ competition: Towards an objective based regulatory architecture