Central Banks as a Bank Supervisor
A Comparison of the Function of the Bank of England, the Federal Reserve and the European Central Bank
Zusammenfassung
As a result of the Global Financial Crisis in 2007, the financial and bank supervision in many countries was reformed. Stanyo Dinov investigates the Central Banks of the three advanced financial systems – the UK, the USA and the EU – and the questions related to their supervisory role. All three banks historically and symbolically represent different legal systems, influenced by each other and comparable to one another. They all represent the model of free market economy, whose roots began with the idea of economic liberalism and wellbeing from Adam Smith. The legislators in the UK, the USA and the EU have chosen solutions that are in some ways similar though in other ways different to reform these financial systems. Therefore, on the basis of their historical development, the author presents and compares the post-crisis reforms by these three systems, with the main focus on the CBs’ role as banking supervisor. Existing problems are discussed and some alternative solutions are presented.
Abstract
As a result of the Global Financial Crisis in 2007, the financial and bank supervision in many countries was reformed. Stanyo Dinov investigates the Central Banks of the three advanced financial systems – the UK, the USA and the EU – and the questions related to their supervisory role. All three banks historically and symbolically represent different legal systems, influenced by each other and comparable to one another. They all represent the model of free market economy, whose roots began with the idea of economic liberalism and wellbeing from Adam Smith. The legislators in the UK, the USA and the EU have chosen solutions that are in some ways similar though in other ways different to reform these financial systems. Therefore, on the basis of their historical development, the author presents and compares the post-crisis reforms by these three systems, with the main focus on the CBs’ role as banking supervisor. Existing problems are discussed and some alternative solutions are presented.
- 5–10 Abstract 5–10
- 17–18 1. Introduction 17–18
- 89–92 6. Conclusion 89–92
- 93–102 Bibliography 93–102
3 Treffer gefunden
- „... Fed wanted to differ from the centralised model in Europe6 and avoiding the name "Central Bank" a ...” „... the US federal model but with the idea to be a central and independent bank of sovereign EU-Member ...” „... Banks and their function 24 The second approach is the so called German model, which separates the ...”
- „... both the prudential and conduct of business aspects of those markets. Thirdly, it has had enormous ...” „... idea for single agency model was from the former British Prime Minister Gordon Brown, and represented ...” „... , clearing and settlements systems. The authority performed conduct-of-business supervision. Regarding the ...”
- „... interest. The rules were created for strong monopolies and not for small and middle-sized businesses ...” „... stability.130 In this regard, the ECB is a exception of the standard model of CB. Unlike the Fed131 or the ...” „... the existed supervisory model as well as the results of the global financial crisis and the European ...”