Abstract
The EU banking regulation is, as the EU itself, a unique structure in the world. Two unique features of EU banking regulation are single jurisdiction with several legal frameworks and several jurisdictions sharing the same legal framework. The pile of regulation applying to banks is enormous. Such nature of the regulation emerges from the nature of the EU. It is maybe unavoidable but is it useful to apply such a complex regulation on the institutions having literary all the money in the world to pay lawyers? There are promising recent changes, but as politics initially got cold feet the term gradually in their implementation now really means it. Our children will see their full impact.
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Notes
- 1.
It is important to remember the way of numberation of documents. Now they all have year first and number last. Until 2015 regulations had number first preceded with abbreviation No.
- 2.
ECB (2017, p. 66).
- 3.
ECB, www.bankingsupervision.europa.eu (2019, p. 8).
- 4.
NPE—non-performing exposure.
- 5.
“We should put an end on seemingly endless proliferation of complex rulebooks which are even now beyond comprehension of far too numerous regulatory professionals.” p. 8.
“A few minutes at a meeting of regulatory professionals leave one crying out for someone who can see wood from the trees” (Kay, 2015, p. 305).
- 6.
Glossary: CRR—real estate treatment.
- 7.
“The result of extreme leverage is predictable, though its timing never is.” (Blinder, 2013).
- 8.
“Spanish housing in the 2000s was the US experience on steroids.” p. 119.
“Government officials say Spain’s system of personal guarantees saved its banks from the turmoil…” (Atif Mian, 2014, p. 121).
- 9.
Mody and Wolf (2015).
References
Atif Mian, A. S. (2014). House of debt, University of Chicago Press. ISBN 978-0226081946.
Blinder, A. S. (2013). After the music stopped, Penguin Books. ISBN 014312448X.
ECB. (2017). Guidance to banks on non-performing loans. Retrieved from https://www.bankingsupervision.europa.eu, https://www.bankingsupervision.europa.eu/ecb/pub/pdf/guidance_on_npl.en.pdf.
ECB. (2019, August). www.bankingsupervision.europa.eu. Retrieved from https://www.bankingsupervision.europa.eu/press/letterstobanks/shared/pdf/2019/ssm.supervisory_coverage_expectations_for_NPEs_201908.en.pdf.
Kay, J. (2015). Other people’s money, Profile Books. ISBN 978-1781254431.
Mody, A., & Wolf, G. B. (2015, July). The vulnerability of Europe’s small and medium sized banks. Bruegel Working Paper.
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Odak, D. (2020). Banking Regulation in the EU. In: A Political Economy of Banking Supervision. Springer, Cham. https://doi.org/10.1007/978-3-030-48547-4_11
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DOI: https://doi.org/10.1007/978-3-030-48547-4_11
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