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来源类型 | Policy Contribution |
规范类型 | 简报 |
A ‘twin peaks’ vision for Europe | |
Dirk Schoenmaker; Nicolas Véron | |
发表日期 | 2017-11-13 |
出版年 | 2017 |
语种 | 英语 |
概述 | The organisation of the European Supervisory Authorities (ESAs) is based on a sectoral approach with one ESA for each sector, with separate authorities for banking, insurance and securities and markets. But is this sectoral approach still valid? This Policy Contribution outlines a long-term vision for the supervisory architecture in the European Union. |
摘要 | Erratum 6 December 2017: Table 1, page 3. “Portugal is currently reviewing its supervisory model.” The European Union’s financial supervisory architecture is based on a sectoral model with separate authorities for banking, insurance and securities and markets. New developments in the EU financial sector make this sectoral structure increasingly out of date:
To deal with these challenges, the EU should commit to a twin peaks model as a long-term vision for supervision. The first peak would be prudential supervision focusing on the health and soundness of financial firms. As these financial firms have become increasingly interwoven, the vision of integrated cross-sector prudential supervision is increasingly compelling, even though legal obstacles imply it cannot be implemented at the European level in the near term. The second peak would be a strong markets and conduct of business supervisor. This supervisor would solely focus on the proper functioning of markets and fair treatment of consumers. This twin peaks model should guide Europe’s efforts to deal with current challenges. |
主题 | European Macroeconomics & Governance ; Finance & Financial Regulation |
关键词 | banking supervision brexit European governance insurance Twin Peaks model |
URL | https://bruegel.org/2017/11/a-twin-peaks-vision-for-europe/ |
来源智库 | Bruegel (Belgium) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/429666 |
推荐引用方式 GB/T 7714 | Dirk Schoenmaker,Nicolas Véron. A ‘twin peaks’ vision for Europe. 2017. |
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