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Wyświetlanie 1-2 z 2
Tytuł:
Should supervisors allow capital waivers to be used within European cross-border banking groups?
Autorzy:
Bednarski, Piotr
Polk, Brian
Powiązania:
https://bibliotekanauki.pl/articles/2052141.pdf
Data publikacji:
2019-12-31
Wydawca:
Bankowy Fundusz Gwarancyjny
Tematy:
capital and liquidity waivers
EU financial sector integration
SSM waiver
CRR 2.0
CRD V
BRRD
resolution
financial sector fragmentation
Home-Host supervisors
SRB
SSM
ECB
Opis:
A common theme in recent public European Union (EU) policy debates is improving integration of the EU financial sector. The suggestion is that the Euro area should be treated as if it were a single jurisdiction, across which banks should be able to centralise management of capital and liquidity. Financial fragmentation is said to trap capital and liquidity in local subsidiaries in Host countries which is suboptimal, hindering the cross-border provision of credit, and resulting in an inefficient economic allocation, with higher costs for customers, and lower profitability for the industry in the EU. The proposed policy involves measures to counteract ring-fencing of subsidiaries by Member States (MS), curtailing national options and discretions that limit the harmonization effects of the EU’s Single Rulebook, and other regulations and supervisory practices that reduce banking groups’ cross-border freedom. However, some of the national options affecting banks in the EU are still supported by MS as needed due to local risks, financial stability concerns. Cross-border banking, often used as a yardstick to gauge the level of financial integration in the EU, can currently be realized in the EU in three basic forms: via subsidiaries, via passported branches or via cross-border provision of services. Among the solutions to fragmentation that many EU policy makers and governments focus on, at least in the Eurozone (EZ), are: completion of the Banking Union (BU), adopting regulations allowing capital, liquidity and MREL waivers in subsidiaries across borders, and the reduction of national options. In November 2016, the European Commission (EC) proposed changes to Capital Requirements Regulation (CRR), Capital Requirements Directive IV (CRD IV) and Bank Resolution and Recovery Directive (BRRD) which would have allowed, under certain conditions (e.g. subject to guarantees), the application of capital, liquidity and MREL (Minimum Required Eligible Liabilities) waivers in the subsidiaries of EU banks operating in EU MS. These propositions faced strong opposition and were not ultimately adopted in the recently published CRR 2.0, CRD V and revised BRRD, due to lack of consensus among MS. But the arguments in favour of change have not disappeared. In this paper, we start with a look at the current state of financial integration in Europe. We then examine the arguments for and against the use of waivers. Building on these arguments, we subsequently explain sensible preconditions that should be put in place – in addition to completing the BU – to allow the prudent use of such waivers. We also discuss alternatives to the use of waivers, based on expanding the use of branches and indicate incentives which can play a role in shaping the quality of cooperation between Home and Host supervisors.
Źródło:
Bezpieczny Bank; 2019, 77, 4; 23-49
1429-2939
Pojawia się w:
Bezpieczny Bank
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Security management of systemically important banking institutions inside the European Union financial market
Autorzy:
Pyka, Irena
Pyka, Jan
Powiązania:
https://bibliotekanauki.pl/articles/325162.pdf
Data publikacji:
2019
Wydawca:
Politechnika Śląska. Wydawnictwo Politechniki Śląskiej
Tematy:
banki globalne
instytucje finansowe o znaczeniu systemowym
ryzyko systemowe
unia bankowa
mechanizm jednolitego nadzoru
SSM
europejski system postępowania naprawczego
SRM
MREL
TLAC
global banks
systemically important financial institutions
systemic risk
banking union
Single Supervision Mechanism
European resolution regime
Opis:
This paper is focused on the problems related to activities of systemically important banking institutions. After the global financial crisis, these institutions were held responsible for the escalation of systemic risk in the international economy. The paper analyses how both the supervision and the regulatory tools that are used in European Union countries to deal with formally identified systemically important institutions have changed. The direct goal of the paper is to identify the specific features of the new regulatory order with regard to global and other systemically important institutions that operate in the European Union. The results of the analysis indicate that the extension of the extent of supervision over activities undertaken by these institutions and the introduction of new prudential regulations, including resolution regimes, do not guarantee the security and the stability of European Union’s financial market. Keywords: global banks, systemically important financial institutions, systemic risk, banking union, Single Supervision Mechanism (SSM), European resolution regime – SRM, MREL, TLAC
Źródło:
Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska; 2019, 136; 495-510
1641-3466
Pojawia się w:
Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska
Dostawca treści:
Biblioteka Nauki
Artykuł
    Wyświetlanie 1-2 z 2

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