- The Single Supervisory Mechanism or 'SSM', Part One of the Banking Union
Report · 5 March 2014
The Regulation on the Single Supervisory Mechanism mandates the European Central Bank to exercise prudential supervision on the most significant banks located in the Euro area, whether directly by…
- Optimal Regulatory Design for the Central Bank of Russia
26 July 2007
The Central Bank of Russia (CBR) assumes a wide range of functions not raditional to a central bank. In addition to the daily conduct of monetary policy, it acts as a regulator and supervisor of the…
- Post-Crisis Reform of the Supervisory System and High Reliability Theory
18 August 2015
This essay uses “high reliability organization” theory as a lens through which to view and analyze post-crisis reforms in banking supervision. Organizational sociologists have identified a class of…
- Globalized Finance and National Regulation: The Influence of Internationalization on Supervisory Consolidation
25 March 2010
Financial regulatory reform remains high on global and national political agendas. Some proposals call for the consolidation of regulatory structures by merging or eliminating existing regulatory…
- Difficult Issues in Financial Regulation for Financial Stability
4 March 2022
This article explores some of the difficult issues in financial regulation for financial stability. Noting the lack of prior academic work in the topic, this article presents a discussion of some…
- Stressed Banks? Evidence from the Largest-Ever Supervisory Review
Report · 20 November 2020
Regulation needs effective supervision; but regulated entities may deviate with unobserved actions. For identification, we analyze banks, exploiting the European Central Bank’s asset-quality-review…
- Shifts in Competences between Member States and the EU in the New Supervisory System for Credit Institutions and Their Consequences for Judicial Protection
Report · 21 January 2015
The Single Supervisory Mechanism (SSM) is a striking example of the tendency within the EU to transfer decisive, regulatory and enforcement powers to the EU level. The SSM involves a complex system…
- Banks' Strategic Responses to Supervisory Coverage: Evidence from a Natural Experiment
23 February 2017
We study how supervisory coverage affects syndicated lending. Relying on an unexpected change in supervisory coverage, we document that the costs of bank credit for borrowers excluded from…
- Financial Regulation and Supervision in the Euro Area: A Four-Peak Proposal
Report · 9 May 2001
In this paper, we discuss pros and cons of different models for financial market regulation and supervision and we present a proposal for the re-organisation of regulatory and supervisory agencies in…
- Empowering the ECB to Supervise Banks: A Choice-Based Approach
Report · 14 January 2009
The reform of bank supervision represents one of the great institutional challenges for the European Union. The recent pattern of cross-border failures in supervision reflects the extent to which a…
- Central Bankers as Supervisors: Do Crises Matter?
27 April 2015
Following the 2007-09 Global Financial Crisis many countries have changed their financial supervisory architecture by increasing the involvement of central banks in supervision. This has led many…
- How Do Joint Supervisors Examine Financial Institutions? The Case of State Banks
Report · 8 July 2010
This paper studies what determines whether federal and state supervisors examine state banks independently or together. The results suggest that supervisors coordinate examinations in order to…
- Allocating Bank Regulatory Powers: Lender of Last Resort, Deposit Insurance and Supervision
26 August 2005
We examine the optimal institutional allocation of bank regulation. We find that centralizing the lending of last resort and deposit insurance functions in a regulator leads to excessive forbearance.…
- The Operation of Supervisory Colleges after the Single Supervisory Mechanism of the European Banking Union
Report · 23 October 2018
This article focuses on the operation of supervisory colleges after implementation of the first pillar of the European Union’s Banking Union -- the Single Supervisory Mechanism. The article concludes…
- Creating an EU-Level Supervisor for Cross-Border Banking Groups: Issues Raised by the U.S. Experience with Dual Banking
4 April 2011
The European Union (EU) has been facilitating the growth of cross-border banking groups, but bank supervision remains the responsibility of national supervisors. This mismatch has long been…
- Rational Pension Supervision - First Experiencies of Central and Eastern European States in Comparison with Other Countries (Part III)
Report · 19 July 2009
The subject of our consideration are the experiences relating to pension fund regulations from the point of view of their safety of operations in five countries of Central and Eastern Europe. These…
- The Limits of Prudential Supervision: Economic Problems, Institutional Failure and Competence
15 March 1999
Bank supervision typically receives little if any attention when banks are operating without difficulty. But when banks fail in large numbers, or large banks fail, and the system itself is…
- Political Cycles in Financial Regulatory Enforcement
2 September 2013
While there is extensive research on financial regulatory policies, there is relatively little known about differences in bank regulatory enforcement across countries. This is one of the first…
- The Effect of Bank Supervision on Risk Taking: Evidence from a Natural Experiment
7 September 2017
In this paper, we exploit a natural experiment in which thrifts in several states witnessed an exogenous reduction in supervisory attention to assess the effect of supervision on financial…
- Market Discipline and Banking Supervision: The Role of Subordinated Debt
28 February 2008
One of the aims of mandatory subordinated debt is to enhance both direct and indirect market discipline. Indeed, on the one hand, holding subordinated debt can affect banks' behaviour by changing…
- Why Supervise Banks? The Foundations of the American Monetary Settlement
17 July 2019
dministrative agencies are generally designed to operate at arm’s length, making rules and adjudicating cases. But the banking agencies are different: they are designed to supervise. They work…
- Does Monetary Policy Affect the Central Bank's Role in Bank Supervision?
5 July 2001
This paper examines whether monetary policy responsibilities alter the central bank's role as a bank supervisor. The analysis focuses on the U.S., where the FED shares supervisory duties with two…
- Bank Supervision Russian Style: Rules Versus Enforcement and Tacit Objectives
Report · 6 August 2005
We focus on the conflict between two central bank objectives - individual bank stability and systemic stability - and the regulatory forbearance that follows from it. We study the licensing policy of…
- Does Bank Supervision Impact Bank Loan Growth?
Report · 13 May 2015
We estimate the impact on individual bank loan growth caused by supervisory restrictions associated with a poor bank examination rating. We use a novel approach to control for bank loan demand…
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