The European Union towards the banking union: indications and dilemmas arising from the comparison with the US supervision model
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Abstract
The essay provides for some comparative remarks on the evolution of the banking supervision system in the European Union and in the United States of America, in the aftermath of the global financial crisis of 2007- 2009. The need for a revision of the respective models of regulation and supervision of the financial market led to an overall process of transformation, in order to strengthen more the stability of both the financial market as a whole and the single institutions. To this respect, the introduction in the Eurozone of a common bank supervision system through the Single Supervisory Mechanism (SSM) provides for a very interesting comparison with the US model of regulation and supervision of the banking system, traditionally based on the application of federal principle.
Keywords
- Banking Supervision
- Dodd Frank Act
- Single Supervisory Mechanism
- Basilea 3